PROG (NYSE:PRG) Price Target Increased to $47.00 by Analysts at TD Cowen

PROG (NYSE:PRG) had its price target hoisted by TD Cowen from $40.00 to $47.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

PRG has been the subject of a number of other reports. Loop Capital lifted their target price on PROG from $35.00 to $41.00 and gave the stock a hold rating in a report on Thursday. BTIG Research started coverage on PROG in a report on Friday, June 7th. They issued a neutral rating for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $42.60.

PROG Stock Performance

PRG opened at $43.93 on Thursday. The business’s fifty day moving average is $35.44 and its 200-day moving average is $33.48. The firm has a market cap of $1.90 billion, a P/E ratio of 17.93 and a beta of 2.10. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.83 and a current ratio of 3.87. PROG has a 52-week low of $26.39 and a 52-week high of $44.54.

PROG (NYSE:PRG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.22. The business had revenue of $592.16 million for the quarter, compared to analyst estimates of $573.23 million. PROG had a return on equity of 26.30% and a net margin of 4.57%. PROG’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. Sell-side analysts expect that PROG will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 28th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a yield of 1.09%. PROG’s dividend payout ratio (DPR) is presently 19.59%.

Institutional Investors Weigh In On PROG

A number of hedge funds have recently added to or reduced their stakes in PRG. Norges Bank acquired a new stake in PROG in the fourth quarter valued at approximately $12,666,000. Breach Inlet Capital Management LLC acquired a new stake in PROG in the fourth quarter valued at approximately $12,572,000. SG Capital Management LLC acquired a new stake in PROG in the first quarter valued at approximately $5,932,000. Assenagon Asset Management S.A. grew its stake in PROG by 719.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock valued at $5,529,000 after acquiring an additional 157,024 shares during the period. Finally, Jupiter Asset Management Ltd. grew its stake in PROG by 83.6% in the first quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock valued at $8,979,000 after acquiring an additional 118,698 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.

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.