Vulcan Value Partners LLC Lowers Stock Holdings in PROG Holdings, Inc $PRG

Vulcan Value Partners LLC cut its holdings in PROG Holdings, Inc (NYSE:PRG) by 50.4% in the second quarter, Holdings Channel reports. The institutional investor owned 281,066 shares of the fintech holding company’s stock after selling 285,248 shares during the quarter. Vulcan Value Partners LLC’s holdings in PROG were worth $13,100,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in shares of PROG in the second quarter worth approximately $1,985,000. Segall Bryant & Hamill LLC acquired a new stake in shares of PROG in the first quarter valued at about $837,000. Empowered Funds LLC lifted its stake in shares of PROG by 30.4% in the first 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 boosted its position in PROG by 588.0% during the first quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock worth $24,100,000 after acquiring an additional 717,932 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in PROG by 30.0% during the 1st quarter. Bank of New York Mellon Corp now owns 612,601 shares of the fintech holding company’s stock valued at $17,576,000 after acquiring an additional 141,221 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO George M. Sewell sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 28,385 shares in the company, valued at approximately $1,292,369.05. This represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael King sold 1,070 shares of the 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 $2,797,950. The trade was a 1.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,000 shares of company stock worth $183,060 over the last three months. Insiders own 3.72% of the company’s stock.

Analyst Ratings Changes

PRG has been the topic of several recent research reports. Zacks Research upgraded PROG from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. TD Cowen lifted their price objective on PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Wall Street Zen lowered PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday. KeyCorp raised their target price on PROG from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Loop Capital lowered PROG from a “buy” rating to a “hold” rating and set a $48.00 price target on the stock. in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.44.

PROG Trading Down 3.1%

Shares of PRG stock traded down $1.24 during trading on Tuesday, hitting $38.05. 554,729 shares of the stock traded hands, compared to its average volume of 522,059. PROG Holdings, Inc has a 52-week low of $25.80 and a 52-week high of $47.73. The firm has a market capitalization of $1.52 billion, a P/E ratio of 10.51 and a beta of 1.76. The firm’s fifty day moving average price is $42.72 and its 200-day moving average price is $36.91. The company has a debt-to-equity ratio of 1.10, a current ratio of 4.03 and a quick ratio of 2.29.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.24. The company had revenue of $719.72 million during 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. As a group, research analysts forecast that PROG Holdings, Inc will post 4.95 earnings per share for the current fiscal year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 18th were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, August 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. PROG’s dividend payout ratio (DPR) is currently 15.47%.

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.