Brokerages Set PROG Holdings, Inc (NYSE:PRG) Target Price at $49.44

Shares of PROG Holdings, Inc (NYSE:PRG) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $49.4375.

A number of brokerages have recently commented on PRG. Weiss Ratings raised shares of PROG from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. Loop Capital downgraded shares of PROG from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research note on Wednesday, July 1st. Jefferies Financial Group upgraded shares of PROG from a “hold” rating to a “buy” rating and raised their target price for the company from $33.00 to $60.00 in a research note on Wednesday, July 8th. KeyCorp lifted their price target on PROG from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded PROG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 6th.

Insider Buying and Selling

In related news, insider Michael King sold 1,070 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $46.00, for a total transaction of $49,220.00. Following the transaction, the insider directly owned 60,825 shares of the company’s stock, valued at approximately $2,797,950. The trade was a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO George M. Sewell sold 2,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $45.53, for a total value of $91,060.00. Following the completion of the sale, the chief accounting officer owned 28,385 shares in the company, valued at approximately $1,292,369.05. This trade represents a 6.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,000 shares of company stock worth $183,060 over the last three months. 3.72% of the stock is owned by insiders.

Hedge Funds Weigh In On PROG

Large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new stake in shares of PROG during the 2nd quarter worth about $34,000. Squarepoint Ops LLC grew its stake in PROG by 143.0% in the 2nd quarter. Squarepoint Ops LLC now owns 107,278 shares of the fintech holding company’s stock valued at $5,000,000 after buying an additional 63,128 shares during the last quarter. Allworth Financial LP raised its holdings in PROG by 61.9% in the 2nd quarter. Allworth Financial LP now owns 897 shares of the fintech holding company’s stock valued at $42,000 after acquiring an additional 343 shares during the period. Corient Private Wealth LP raised its holdings in PROG by 96.1% in the 2nd quarter. Corient Private Wealth LP now owns 47,151 shares of the fintech holding company’s stock valued at $2,198,000 after acquiring an additional 23,110 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in PROG during the second quarter worth approximately $1,552,000. 97.92% of the stock is owned by institutional investors.

PROG Trading Down 1.7%

NYSE PRG opened at $35.70 on Thursday. PROG has a 12 month low of $25.80 and a 12 month high of $47.73. The company has a current ratio of 4.03, a quick ratio of 2.29 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average of $41.68 and a 200-day moving average of $36.86. The company has a market cap of $1.42 billion, a PE ratio of 9.86 and a beta of 1.76.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. PROG had a net margin of 5.57% and a return on equity of 21.88%. The business had revenue of $719.72 million for the quarter, compared to the consensus estimate of $713.50 million. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. On average, equities research analysts anticipate that PROG will post 4.95 EPS for the current fiscal year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 18th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 18th. PROG’s payout ratio is currently 15.47%.

About PROG

PROG Holdings, Inc is a financial technology company that provides consumer financing and lease-to-own solutions through its Progressive Leasing business. The company helps consumers obtain merchandise from participating retailers through flexible payment arrangements, including customers who may not qualify for traditional credit.

Progressive Leasing supports in-store, online and omnichannel transactions for products such as furniture, appliances, electronics, mattresses, jewelry and other household goods.