Analysts Set PROG Holdings, Inc. (NYSE:PRG) PT at $50.40

PROG Holdings, Inc. (NYSE:PRG) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $50.40.

A number of brokerages recently weighed in on PRG. TD Cowen increased their price target on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and increased their price target for the stock from $41.00 to $55.00 in a research note on Monday, August 19th. Jefferies Financial Group upped their price objective on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, KeyCorp upped their price objective on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th.

Hedge Funds Weigh In On PROG

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of PROG by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 5,638,231 shares of the company’s stock valued at $174,278,000 after purchasing an additional 105,101 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in PROG by 0.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 896,075 shares of the company’s stock valued at $31,076,000 after acquiring an additional 6,803 shares in the last quarter. American Century Companies Inc. increased its holdings in PROG by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 684,705 shares of the company’s stock valued at $23,746,000 after acquiring an additional 84,497 shares in the last quarter. Clearbridge Investments LLC increased its holdings in PROG by 2.3% during the 1st quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock valued at $15,182,000 after acquiring an additional 9,807 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in PROG by 1.3% during the 2nd quarter. Ceredex Value Advisors LLC now owns 291,550 shares of the company’s stock valued at $10,111,000 after acquiring an additional 3,750 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Trading Up 1.8 %

Shares of PROG stock opened at $47.99 on Thursday. The company has a fifty day simple moving average of $45.88 and a 200-day simple moving average of $38.97. PROG has a 12-month low of $26.39 and a 12-month high of $50.28. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 19.75 and a beta of 2.11.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.22. PROG had a net margin of 4.57% and a return on equity of 26.30%. The business had revenue of $592.16 million during the quarter, compared to analysts’ expectations of $573.23 million. During the same quarter in the prior year, the business posted $0.92 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts forecast that PROG will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. PROG’s dividend payout ratio is presently 19.75%.

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.