PROG (NYSE:PRG) Sets New 12-Month High – Here’s What Happened

Shares of PROG Holdings, Inc (NYSE:PRG) hit a new 52-week high on Tuesday . The stock traded as high as $47.00 and last traded at $46.30, with a volume of 1042708 shares traded. The stock had previously closed at $46.11.

Wall Street Analyst Weigh In

Several brokerages recently commented on PRG. B. Riley Financial reissued a “buy” rating on shares of PROG in a report on Thursday, April 30th. TD Cowen increased their price objective on shares of PROG from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Zacks Research lowered shares of PROG from a “strong-buy” rating to a “hold” rating in a research report on Monday. Loop Capital cut 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. Finally, Raymond James Financial restated an “outperform” rating and set a $45.00 price target on shares of PROG in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.42.

PROG Price Performance

The company has a 50-day moving average of $36.43 and a 200 day moving average of $33.29. The company has a quick ratio of 2.41, a current ratio of 4.27 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $1.82 billion, a PE ratio of 12.40 and a beta of 1.77.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.46. The company had revenue of $742.67 million for the quarter, compared to analyst estimates of $732.70 million. PROG had a return on equity of 21.94% and a net margin of 5.88%.The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. Sell-side analysts predict that PROG Holdings, Inc will post 4.7 EPS for the current year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, May 19th. PROG’s dividend payout ratio is currently 15.30%.

Institutional Trading of PROG

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of PROG by 7.5% in the third quarter. JPMorgan Chase & Co. now owns 485,574 shares of the fintech holding company’s stock valued at $15,713,000 after purchasing an additional 33,961 shares during the last quarter. Portolan Capital Management LLC purchased a new stake in PROG in the 3rd quarter valued at $4,859,000. Wedge Capital Management L L P NC grew its holdings in PROG by 37.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 132,702 shares of the fintech holding company’s stock valued at $3,913,000 after buying an additional 36,013 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of PROG by 113.5% in the 4th quarter. SG Americas Securities LLC now owns 40,807 shares of the fintech holding company’s stock worth $1,203,000 after acquiring an additional 21,698 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of PROG by 28.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 447,192 shares of the fintech holding company’s stock worth $13,188,000 after acquiring an additional 98,756 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

About PROG

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.