PROG (NYSE:PRG) Given New $40.00 Price Target at TD Cowen

PROG (NYSE:PRG) had its target price raised by TD Cowen from $38.00 to $40.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Stephens raised PROG from an equal weight rating to an overweight rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, PROG currently has an average rating of Moderate Buy and a consensus target price of $39.60.

PROG Stock Performance

NYSE PRG opened at $34.92 on Thursday. The company has a market cap of $1.53 billion, a P/E ratio of 14.25 and a beta of 2.08. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.91 and a quick ratio of 1.49. The stock has a 50-day moving average of $32.30 and a two-hundred day moving average of $30.70. PROG has a 1-year low of $26.39 and a 1-year high of $44.81.

PROG (NYSE:PRG) last released its earnings results 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. The company had revenue of $641.87 million during the quarter, compared to the consensus estimate of $632.24 million. PROG had a return on equity of 26.67% and a net margin of 4.71%. As a group, analysts anticipate that PROG will post 2.86 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Wednesday, March 13th. PROG’s dividend payout ratio is currently 19.59%.

Institutional Investors Weigh In On PROG

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in PROG during the fourth quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in shares of PROG during the third quarter valued at $31,000. Acadian Asset Management LLC acquired a new stake in shares of PROG during the third quarter valued at $33,000. Skandinaviska Enskilda Banken AB publ purchased a new position in PROG during the third quarter worth about $103,000. Finally, Counterpoint Mutual Funds LLC lifted its position in PROG by 19.0% during the third quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company’s stock worth $119,000 after buying an additional 570 shares during the period. Hedge funds and other 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.