PROG (NYSE:PRG) Price Target Increased to $35.00 by Analysts at Loop Capital

PROG (NYSE:PRG) had its price target lifted by Loop Capital from $31.00 to $35.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities analysts have also issued reports about the stock. Stephens raised shares of PROG from an equal weight rating to an overweight rating in a research report on Tuesday, January 2nd. TD Cowen raised their price target on shares of PROG from $38.00 to $40.00 and gave the stock a buy rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $39.60.

PROG Price Performance

Shares of PRG opened at $34.02 on Thursday. The firm has a market capitalization of $1.49 billion, a PE ratio of 13.89 and a beta of 2.08. The company’s 50-day moving average is $32.36 and its 200-day moving average is $30.71. PROG has a fifty-two week low of $26.39 and a fifty-two week high of $44.81. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.91 and a quick ratio of 1.49.

PROG (NYSE:PRG) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.08. PROG had a net margin of 4.71% and a return on equity of 26.67%. The company had revenue of $641.87 million for the quarter, compared to analyst estimates of $632.24 million. Equities analysts forecast that PROG will post 3 EPS for the current year.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. PROG’s payout ratio is 19.59%.

Institutional Investors Weigh In On PROG

Large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in PROG by 719.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock worth $5,529,000 after buying an additional 157,024 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in PROG by 33.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 145,706 shares of the company’s stock worth $4,839,000 after buying an additional 36,776 shares in the last quarter. Victory Capital Management Inc. grew its stake in PROG by 161.0% during the third quarter. Victory Capital Management Inc. now owns 107,286 shares of the company’s stock worth $3,563,000 after buying an additional 66,185 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in PROG during the third quarter worth about $921,000. Finally, Nomura Holdings Inc. grew its stake in PROG by 621.5% during the third quarter. Nomura Holdings Inc. now owns 144,294 shares of the company’s stock worth $4,792,000 after buying an additional 124,294 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

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.