Wedge Capital Management L L P NC trimmed its holdings in shares of PROG Holdings, Inc (NYSE:PRG – Free Report) by 19.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,987 shares of the fintech holding company’s stock after selling 31,443 shares during the period. Wedge Capital Management L L P NC owned about 0.32% of PROG worth $6,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its position in shares of PROG by 2.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,199 shares of the fintech holding company’s stock worth $389,000 after purchasing an additional 344 shares during the period. HB Wealth Management LLC raised its stake in PROG by 1.7% in the first quarter. HB Wealth Management LLC now owns 21,470 shares of the fintech holding company’s stock worth $616,000 after buying an additional 359 shares in the last quarter. GAMMA Investing LLC lifted its holdings in PROG by 19.2% during the second quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company’s stock worth $136,000 after buying an additional 468 shares during the period. Quarry LP lifted its holdings in PROG by 82.8% during the fourth quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock worth $33,000 after buying an additional 506 shares during the period. Finally, Horizon Investments LLC boosted its position in PROG by 2.6% during the 4th quarter. Horizon Investments LLC now owns 20,948 shares of the fintech holding company’s stock valued at $618,000 after acquiring an additional 537 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.
Insider Buying and Selling
In other PROG news, insider Michael Todd King sold 1,070 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $46.00, for a total transaction of $49,220.00. Following the transaction, the insider owned 60,825 shares in the company, valued at approximately $2,797,950. This represents a 1.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO George M. Sewell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $45.53, for a total transaction of $91,060.00. Following the completion of the transaction, the chief accounting officer directly owned 28,385 shares of the company’s stock, valued at approximately $1,292,369.05. This represents a 6.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,000 shares of company stock worth $183,060 in the last 90 days. 3.72% of the stock is currently owned by company insiders.
PROG Trading Down 0.4%
PROG (NYSE:PRG – Get Free Report) last issued its quarterly 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. The business had revenue of $719.72 million for the quarter, compared to analyst estimates of $713.50 million. PROG had a return on equity of 21.88% and a net margin of 5.57%.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, research analysts anticipate that PROG Holdings, Inc will post 4.95 EPS for the current fiscal year.
PROG Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 18th. PROG’s payout ratio is currently 15.47%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Loop Capital lowered PROG from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a research report on Wednesday, July 1st. KeyCorp raised their price objective on PROG from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Zacks Research upgraded PROG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of PROG from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. Finally, TD Cowen lifted their price objective on shares of PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.44.
View Our Latest Research Report on PROG
PROG Company Profile
PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.
The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.
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