SummitTX Capital L.P. lifted its holdings in shares of PROG Holdings, Inc (NYSE:PRG – Free Report) by 162.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 38,662 shares of the fintech holding company’s stock after buying an additional 23,922 shares during the period. SummitTX Capital L.P.’s holdings in PROG were worth $1,109,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Quarry LP boosted its position in PROG by 82.8% during the fourth quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock valued at $33,000 after purchasing an additional 506 shares during the last quarter. Global Assets Advisory LLC bought a new position in PROG in the first quarter valued at approximately $38,000. Federation des caisses Desjardins du Quebec acquired a new position in shares of PROG during the 4th quarter worth approximately $44,000. GAMMA Investing LLC increased its position in shares of PROG by 45.3% during the 4th quarter. GAMMA Investing LLC now owns 1,806 shares of the fintech holding company’s stock worth $53,000 after purchasing an additional 563 shares during the last quarter. Finally, WealthCollab LLC raised its stake in shares of PROG by 61.9% during the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company’s stock worth $61,000 after purchasing an additional 800 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.
Key PROG News
Here are the key news stories impacting PROG this week:
- Positive Sentiment: PROG reported second-quarter adjusted earnings of $1.19 per share, well above analyst expectations of approximately $0.95-$0.96 and up from $1.02 a year earlier. Revenue of $719.7 million also exceeded the roughly $713.5 million consensus estimate. PROG Holdings Surpasses Q2 Earnings and Revenue Estimates
- Positive Sentiment: Management described the quarter as strong, with revenue near the high end of its outlook and solid adjusted EBITDA and non-GAAP earnings performance. The results include Purchasing Power, acquired in January, adding another earnings contributor to the portfolio. PROG Holdings Reports Second Quarter 2026 Results
- Positive Sentiment: Full-year 2026 EPS guidance was raised or reaffirmed at $4.75-$5.00, above the approximately $4.66 analyst consensus. Full-year revenue guidance of $3.0 billion-$3.1 billion was broadly in line with expectations. PROG Holdings Earnings and Guidance
- Neutral Sentiment: Third-quarter EPS guidance of $1.00-$1.20 brackets the $1.05 consensus, indicating management expects continued earnings momentum but provided a relatively wide range.
- Negative Sentiment: Third-quarter revenue guidance of $715 million-$750 million has a midpoint of approximately $732.5 million, below the $746.7 million consensus estimate. That outlook may have disappointed investors despite the second-quarter beat. PROG Holdings Q2 Key Metrics
- Negative Sentiment: Investors remain focused on elevated write-offs and pressure on consumers, which could affect leasing demand, credit performance and margins. These concerns likely contributed to the negative market reaction and heavier-than-usual trading volume.
Wall Street Analysts Forecast Growth
PROG Stock Performance
Shares of NYSE PRG opened at $42.73 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.27 and a quick ratio of 2.41. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 11.67 and a beta of 1.78. The stock’s fifty day moving average price is $40.78 and its two-hundred day moving average price is $35.31. PROG Holdings, Inc has a one year low of $25.80 and a one year high of $47.73.
PROG (NYSE:PRG – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $719.72 million during the quarter, compared to the consensus estimate of $713.50 million. PROG had a net margin of 5.88% and a return on equity of 21.94%. 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 analysts forecast that PROG Holdings, Inc will post 4.7 EPS for the current year.
PROG Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a $0.14 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. PROG’s payout ratio is presently 15.30%.
PROG 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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