TD Cowen Boosts PROG (NYSE:PRG) Price Target to $40.00

PROG (NYSE:PRG) had its target price hoisted by TD Cowen from $38.00 to $40.00 in a research note issued to investors on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the stock.

Separately, Stephens raised PROG from an equal weight rating to an overweight rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $39.60.

PROG Trading Down 2.6 %

NYSE:PRG opened at $34.02 on Thursday. The firm has a market cap of $1.49 billion, a PE ratio of 13.89 and a beta of 2.08. The stock has a fifty day moving average price of $32.36 and a 200 day moving average price of $30.71. PROG has a 12-month low of $26.39 and a 12-month high of $44.81. The company has a current ratio of 3.91, a quick ratio of 1.49 and a debt-to-equity ratio of 1.01.

PROG (NYSE:PRG) last released its earnings results on Wednesday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. The firm had revenue of $641.87 million during the quarter, compared to analyst estimates of $632.24 million. PROG had a return on equity of 26.67% and a net margin of 4.71%. Sell-side analysts anticipate that PROG will post 3 earnings per share for the current fiscal year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, March 13th. PROG’s dividend payout ratio (DPR) is 19.59%.

Institutional Trading of PROG

A number of institutional investors have recently bought and sold shares of PRG. AE Wealth Management LLC acquired a new stake in shares of PROG during the third quarter worth about $443,000. SG Americas Securities LLC acquired a new stake in shares of PROG during the third quarter worth about $1,901,000. Counterpoint Mutual Funds LLC increased its position in shares of PROG by 19.0% during the third quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company’s stock worth $119,000 after purchasing an additional 570 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of PROG by 152.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 63,390 shares of the company’s stock worth $2,105,000 after purchasing an additional 38,244 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PROG by 27.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,310 shares of the company’s stock worth $309,000 after purchasing an additional 2,020 shares in the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

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.