Brokerages Set PROG Holdings, Inc. (NYSE:PRG) Price Target at $39.60

Shares of PROG Holdings, Inc. (NYSE:PRG) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $39.60.

Several analysts recently issued reports on PRG shares. BTIG Research began coverage on shares of PROG in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Loop Capital boosted their price target on shares of PROG from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, TD Cowen increased their price objective on shares of PROG from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRG. UBS Group AG increased its holdings in PROG by 61.7% during the 3rd quarter. UBS Group AG now owns 74,268 shares of the company’s stock worth $2,466,000 after purchasing an additional 28,351 shares during the period. Invesco Ltd. increased its stake in shares of PROG by 15.7% during the third quarter. Invesco Ltd. now owns 441,929 shares of the company’s stock worth $14,676,000 after buying an additional 59,859 shares during the period. Hsbc Holdings PLC raised its holdings in PROG by 102.6% in the third quarter. Hsbc Holdings PLC now owns 14,063 shares of the company’s stock valued at $467,000 after acquiring an additional 7,123 shares in the last quarter. Acadian Asset Management LLC purchased a new position in PROG in the third quarter worth approximately $33,000. Finally, Trexquant Investment LP grew its holdings in PROG by 129.8% during the 3rd quarter. Trexquant Investment LP now owns 35,782 shares of the company’s stock worth $1,188,000 after acquiring an additional 20,208 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Stock Down 0.1 %

Shares of NYSE PRG opened at $33.77 on Tuesday. The company has a market capitalization of $1.46 billion, a P/E ratio of 13.78 and a beta of 2.10. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.91 and a quick ratio of 1.83. The company has a 50 day simple moving average of $35.27 and a 200-day simple moving average of $32.95. PROG has a 1 year low of $26.39 and a 1 year high of $44.81.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. PROG had a return on equity of 26.67% and a net margin of 4.71%. The company had revenue of $641.87 million during the quarter, compared to analysts’ expectations of $632.24 million. On average, equities research analysts predict that PROG will post 3 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. PROG’s dividend payout ratio is presently 19.59%.

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.