PROG (NYSE:PRG) Stock Price Up 7.8% – Time to Buy?

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PRG shares. B. Riley Financial reiterated a “buy” rating on shares of PROG in a report on Thursday, April 30th. Weiss Ratings downgraded PROG from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Wall Street Zen raised PROG from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. TD Cowen lifted their price target on shares of PROG from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Raymond James Financial restated an “outperform” rating and issued a $45.00 price objective on shares of PROG in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.70.

PROG Stock Performance

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 company has a market capitalization of $1.51 billion, a PE ratio of 10.26 and a beta of 1.83. The company has a 50 day moving average of $31.32 and a two-hundred day moving average 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 (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $732.70 million. During the same period last year, the business earned $0.90 EPS. PROG’s quarterly revenue was up 11.1% compared to the same quarter last year. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. As a group, equities research analysts predict that PROG Holdings, Inc will post 4.7 earnings per share for the current year.

PROG Announces Dividend

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

Hedge Funds Weigh In On PROG

Several hedge funds and other institutional investors have recently modified their holdings of PRG. Goldman Sachs Group Inc. grew its holdings in PROG by 436.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,824,091 shares of the fintech holding company’s stock valued at $53,792,000 after purchasing an additional 1,483,751 shares during the period. State Street Corp grew its stake in shares of PROG by 5.6% during the 4th quarter. State Street Corp now owns 1,679,355 shares of the fintech holding company’s stock valued at $49,524,000 after acquiring an additional 89,035 shares during the period. Allianz Asset Management GmbH increased its holdings in PROG by 18.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,187,509 shares of the fintech holding company’s stock worth $38,428,000 after acquiring an additional 188,835 shares in the last quarter. LSV Asset Management increased its holdings in PROG by 37.7% in the 4th quarter. LSV Asset Management now owns 1,159,874 shares of the fintech holding company’s stock worth $34,205,000 after acquiring an additional 317,600 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in PROG by 588.0% during the 1st 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 period. 97.92% of the stock is owned by institutional investors.

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.