PROG (NYSE:PRG) Stock Price Up 7.8% – Here’s Why

Shares of PROG Holdings, Inc (NYSE:PRG) shot up 7.8% during trading on Wednesday . The company traded as high as $37.78 and last traded at $37.6350. 75,850 shares changed hands during trading, a decline of 85% from the average session volume of 499,468 shares. The stock had previously closed at $34.90.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PRG. B. Riley Financial reiterated a “buy” rating on shares of PROG in a research report on Thursday, April 30th. Zacks Research upgraded shares of PROG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of PROG from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Stephens raised their target price on shares of PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, TD Cowen raised their target price on PROG from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, PROG currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.70.

PROG Price Performance

The stock has a market cap of $1.51 billion, a PE ratio of 10.26 and a beta of 1.83. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.41 and a current ratio of 4.27. The business has a 50 day moving average price of $31.32 and a two-hundred day moving average price of $31.38.

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

PROG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, May 19th. PROG’s payout ratio is 15.30%.

Institutional Trading of PROG

A number of hedge funds have recently bought and sold shares of PRG. Envestnet Portfolio Solutions Inc. lifted its stake 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 valued at $389,000 after acquiring an additional 344 shares during the last quarter. HB Wealth Management LLC boosted its position in PROG by 1.7% during the 1st quarter. HB Wealth Management LLC now owns 21,470 shares of the fintech holding company’s stock valued at $616,000 after buying an additional 359 shares during the period. Quarry LP boosted its position in PROG by 82.8% during the 4th quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock valued at $33,000 after buying an additional 506 shares during the period. Horizon Investments LLC grew its holdings in PROG by 2.6% in the 4th quarter. Horizon Investments LLC now owns 20,948 shares of the fintech holding company’s stock worth $618,000 after acquiring an additional 537 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of PROG by 45.3% in the fourth quarter. GAMMA Investing LLC now owns 1,806 shares of the fintech holding company’s stock valued at $53,000 after acquiring an additional 563 shares during the period. Institutional investors own 97.92% 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.