PROG Holdings, Inc. (NYSE:PRG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of PROG Holdings, Inc. (NYSE:PRG) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $49.00.

PRG has been the topic of a number of recent research reports. Jefferies Financial Group cut shares of PROG from a “buy” rating to a “hold” rating and reduced their price target for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. Stephens reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of PROG in a research note on Thursday, January 2nd.

Insider Transactions at PROG

In other PROG news, Director Caroline Sio-Chin Sheu purchased 1,650 shares of PROG stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the acquisition, the director now directly owns 18,291 shares in the company, valued at approximately $512,330.91. This trade represents a 9.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas C. Curling purchased 10,000 shares of the stock in a transaction on Friday, February 21st. The shares were acquired at an average cost of $29.88 per share, with a total value of $298,800.00. Following the transaction, the director now directly owns 45,913 shares in the company, valued at $1,371,880.44. The trade was a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.74% of the company’s stock.

Institutional Trading of PROG

Large investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in PROG in the 4th quarter worth $38,000. Sterling Capital Management LLC raised its stake in PROG by 765.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock worth $46,000 after buying an additional 957 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in PROG by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after buying an additional 707 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in PROG by 248.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock worth $57,000 after buying an additional 977 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in PROG during the 4th quarter valued at approximately $68,000. Institutional investors own 97.92% of the company’s stock.

PROG Stock Down 0.7 %

Shares of NYSE:PRG opened at $25.02 on Thursday. The firm has a market capitalization of $1.02 billion, a PE ratio of 5.51 and a beta of 1.96. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. PROG has a 52-week low of $23.50 and a 52-week high of $50.28. The firm has a fifty day moving average of $32.38 and a 200 day moving average of $40.92.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $623.30 million during the quarter, compared to analysts’ expectations of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. As a group, research analysts anticipate that PROG will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.52 annualized dividend and a yield of 2.08%. This is an increase from PROG’s previous quarterly dividend of $0.12. PROG’s payout ratio is presently 10.57%.

PROG Company Profile

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.