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

PROG Holdings, Inc. (NYSE:PRG) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $44.83.

PRG has been the topic of several recent research reports. Loop Capital cut their price objective on shares of PROG from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. KeyCorp dropped their price target on shares of PROG from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Finally, Jefferies Financial Group downgraded shares of PROG from a “buy” rating to a “hold” rating and dropped their price target for the stock from $58.00 to $29.00 in a research report on Wednesday, February 26th.

PROG Stock Performance

NYSE:PRG opened at $28.63 on Friday. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.16 billion, a P/E ratio of 6.31 and a beta of 1.81. PROG has a fifty-two week low of $23.50 and a fifty-two week high of $50.28. The firm’s 50 day moving average is $26.89 and its two-hundred day moving average is $36.24.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.08. The business had revenue of $684.09 million for the quarter, compared to the consensus estimate of $678.23 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. Analysts expect that PROG will post 3.45 EPS for the current year.

PROG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, May 20th. PROG’s payout ratio is currently 10.66%.

Insider Buying and Selling at PROG

In other news, CFO Brian Garner bought 3,500 shares of the stock in a transaction dated Tuesday, May 13th. The shares were acquired at an average price of $28.93 per share, with a total value of $101,255.00. Following the acquisition, the chief financial officer now owns 132,597 shares in the company, valued at $3,836,031.21. This trade represents a 2.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Caroline Sio-Chin Sheu acquired 1,650 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the acquisition, the director now owns 18,291 shares in the company, valued at approximately $512,330.91. The trade was a 9.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 19,150 shares of company stock valued at $553,892 in the last 90 days. 3.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PRG. Breach Inlet Capital Management LLC raised its holdings in shares of PROG by 140.7% in the first quarter. Breach Inlet Capital Management LLC now owns 703,849 shares of the company’s stock valued at $18,722,000 after purchasing an additional 411,459 shares during the last quarter. Nuveen LLC acquired a new stake in shares of PROG in the first quarter valued at approximately $10,770,000. Vulcan Value Partners LLC raised its holdings in shares of PROG by 84.3% in the first quarter. Vulcan Value Partners LLC now owns 681,746 shares of the company’s stock valued at $18,134,000 after purchasing an additional 311,917 shares during the last quarter. Millennium Management LLC raised its holdings in shares of PROG by 62.7% in the first quarter. Millennium Management LLC now owns 673,405 shares of the company’s stock valued at $17,913,000 after purchasing an additional 259,630 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of PROG by 36.8% in the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock valued at $32,951,000 after purchasing an additional 209,805 shares during the last quarter. Institutional investors own 97.92% of the company’s stock.

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.