PROG (NYSE:PRG) Shares Gap Up to $32.01

PROG Holdings, Inc. (NYSE:PRG) gapped up prior to trading on Monday . The stock had previously closed at $32.01, but opened at $32.92. PROG shares last traded at $32.11, with a volume of 41,764 shares.

Analysts Set New Price Targets

PRG has been the topic of several analyst reports. Stephens raised shares of PROG from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 2nd. TD Cowen initiated coverage on shares of PROG in a report on Friday, March 8th. They issued an “outperform” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.60.

PROG Trading Up 1.5 %

The stock has a market cap of $1.43 billion, a P/E ratio of 11.07 and a beta of 2.08. The company has a current ratio of 3.66, a quick ratio of 1.49 and a debt-to-equity ratio of 1.00. The stock’s fifty day moving average price is $32.20 and its 200 day moving average price is $30.63.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, February 21st. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.05. PROG had a net margin of 5.77% and a return on equity of 28.83%. The firm had revenue of $577.40 million for the quarter, compared to analysts’ expectations of $568.35 million. During the same quarter in the previous year, the business posted $0.84 EPS. The company’s quarterly revenue was down 5.7% on a year-over-year basis. Equities research analysts expect that PROG Holdings, Inc. will post 2.83 earnings per share for the current year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, March 13th. PROG’s dividend payout ratio (DPR) is presently 16.22%.

Institutional Trading of PROG

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. purchased a new position in shares of PROG in the 4th quarter worth about $27,000. BluePath Capital Management LLC purchased a new position in shares of PROG in the 3rd quarter worth about $31,000. Acadian Asset Management LLC purchased a new position in shares of PROG in the 3rd quarter worth about $33,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of PROG in the 3rd quarter worth about $103,000. Finally, Counterpoint Mutual Funds LLC raised its position in shares of PROG by 19.0% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company’s stock worth $119,000 after purchasing an additional 570 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.