Analysts Set PROG Holdings, Inc. (NYSE:PRG) Target Price at $53.83

Shares of PROG Holdings, Inc. (NYSE:PRG) have received a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $53.83.

A number of research analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Raymond James upgraded PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Thursday, October 24th. KeyCorp boosted their price objective on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. TD Cowen raised PROG to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Stephens initiated coverage on shares of PROG in a report on Wednesday, November 13th. They issued an “overweight” rating and a $60.00 price target on the stock.

Insider Transactions at PROG

In other PROG news, insider Michael Todd King sold 1,500 shares of PROG stock in a transaction on Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the completion of the transaction, the insider now owns 37,017 shares in the company, valued at approximately $1,738,688.49. The trade was a 3.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP George M. Sewell sold 3,500 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total value of $171,080.00. Following the completion of the transaction, the vice president now directly owns 12,639 shares in the company, valued at approximately $617,794.32. This represents a 21.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,207 shares of company stock valued at $5,759,152. 2.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRG. Burney Co. grew its holdings in PROG by 24.2% during the 2nd quarter. Burney Co. now owns 86,401 shares of the company’s stock worth $2,996,000 after acquiring an additional 16,810 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PROG by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,115 shares of the company’s stock worth $351,000 after purchasing an additional 805 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of PROG by 6.0% during the second quarter. Panagora Asset Management Inc. now owns 116,027 shares of the company’s stock valued at $4,024,000 after purchasing an additional 6,516 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of PROG in the second quarter valued at approximately $73,000. Finally, Guidance Capital Inc. raised its position in PROG by 7.0% in the 2nd quarter. Guidance Capital Inc. now owns 15,658 shares of the company’s stock worth $543,000 after purchasing an additional 1,029 shares during the last quarter. 97.92% of the stock is owned by institutional investors.

PROG Stock Performance

NYSE:PRG opened at $41.99 on Tuesday. The firm has a market capitalization of $1.74 billion, a PE ratio of 11.63 and a beta of 2.15. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. PROG has a 1 year low of $27.84 and a 1 year high of $50.28. The firm’s fifty day simple moving average is $45.81 and its 200 day simple moving average is $43.48.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The company had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. During the same period in the prior year, the business earned $0.90 earnings per share. PROG’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that PROG will post 3.36 EPS for the current year.

PROG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were paid a $0.12 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $0.48 annualized dividend and a dividend yield of 1.14%. PROG’s dividend payout ratio is presently 13.30%.

About PROG

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.