PROG (NYSE:PRG) Receives New Coverage from Analysts at BTIG Research

BTIG Research initiated coverage on shares of PROG (NYSE:PRGFree Report) in a research report report published on Friday morning, reports. The firm issued a neutral rating on the stock.

PRG has been the subject of several other research reports. TD Cowen boosted their target price 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. Loop Capital upped their price objective on PROG from $31.00 to $35.00 and gave the company a hold rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $39.60.

View Our Latest Report on PROG

PROG Stock Down 1.8 %

Shares of NYSE PRG opened at $35.66 on Friday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 14.56 and a beta of 2.12. PROG has a 1 year low of $26.39 and a 1 year high of $44.81. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.83 and a current ratio of 3.91. The stock’s 50-day simple moving average is $34.45 and its 200-day simple moving average is $32.10.

PROG (NYSE:PRGGet Free Report) last announced 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. PROG had a return on equity of 26.67% and a net margin of 4.71%. The company had revenue of $641.87 million for the quarter, compared to analyst estimates of $632.24 million. As a group, equities analysts anticipate that PROG will post 3 earnings per share for the current fiscal year.

PROG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th will be paid a $0.12 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a yield of 1.35%. PROG’s payout ratio is currently 19.59%.

Institutional Trading of PROG

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in PROG by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 5,638,231 shares of the company’s stock worth $174,278,000 after buying an additional 105,101 shares during the period. Vulcan Value Partners LLC lifted its position in PROG by 6.5% in the 4th quarter. Vulcan Value Partners LLC now owns 1,021,463 shares of the company’s stock valued at $31,573,000 after purchasing an additional 62,255 shares during the last quarter. Invesco Ltd. boosted its stake in PROG by 15.7% during the 3rd quarter. Invesco Ltd. now owns 441,929 shares of the company’s stock valued at $14,676,000 after purchasing an additional 59,859 shares during the period. Clearbridge Investments LLC grew its position in PROG by 2.3% in the 1st quarter. Clearbridge Investments LLC now owns 440,814 shares of the company’s stock worth $15,182,000 after purchasing an additional 9,807 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of PROG in the fourth quarter valued at approximately $12,666,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for PROG (NYSE:PRG)

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