Wellington Management Group LLP raised its holdings in shares of PROG Holdings, Inc (NYSE:PRG – Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 697,324 shares of the fintech holding company’s stock after buying an additional 77,291 shares during the quarter. Wellington Management Group LLP owned about 1.75% of PROG worth $32,502,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Segall Bryant & Hamill LLC purchased a new stake in PROG in the first quarter valued at approximately $837,000. Empowered Funds LLC grew its stake in PROG by 30.4% in the 1st quarter. Empowered Funds LLC now owns 174,335 shares of the fintech holding company’s stock worth $5,002,000 after buying an additional 40,605 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of PROG by 588.0% in the 1st quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock worth $24,100,000 after buying an additional 717,932 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of PROG by 30.0% in the 1st quarter. Bank of New York Mellon Corp now owns 612,601 shares of the fintech holding company’s stock worth $17,576,000 after buying an additional 141,221 shares during the last quarter. Finally, Dean Capital Management raised its position in shares of PROG by 310.2% during the 1st quarter. Dean Capital Management now owns 57,368 shares of the fintech holding company’s stock valued at $1,646,000 after buying an additional 43,384 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on PRG. KeyCorp upped their target price on shares of PROG from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Jefferies Financial Group upgraded PROG from a “hold” rating to a “buy” rating and raised their price target for the company from $33.00 to $60.00 in a research report on Wednesday, July 8th. 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 note on Wednesday, July 1st. Wall Street Zen cut PROG from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Finally, Zacks Research upgraded PROG from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.
PROG Stock Performance
PROG stock opened at $39.37 on Friday. The company has a quick ratio of 2.29, a current ratio of 4.03 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $1.57 billion, a PE ratio of 10.88 and a beta of 1.76. The firm has a fifty day simple moving average of $42.86 and a two-hundred day simple moving average of $36.85. PROG Holdings, Inc has a twelve month low of $25.80 and a twelve month high of $47.73.
PROG (NYSE:PRG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.24. The firm had revenue of $719.72 million for the quarter, compared to analysts’ expectations 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. Research analysts expect that PROG Holdings, Inc will post 4.95 EPS for the current year.
PROG Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Tuesday, August 18th were 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 was Tuesday, August 18th. PROG’s dividend payout ratio (DPR) is presently 15.47%.
Insider Buying and Selling
In other news, CAO George M. Sewell sold 2,000 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer owned 28,385 shares of the company’s stock, valued at approximately $1,292,369.05. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael King sold 1,070 shares of the firm’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 completion of the transaction, the insider owned 60,825 shares in the company, valued at $2,797,950. This represents a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,000 shares of company stock worth $183,060 over the last ninety days. Insiders own 3.72% of the company’s stock.
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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