PROG (NYSE:PRG) Trading Down 4.6% – Here’s Why

PROG Holdings, Inc (NYSE:PRG) fell 4.6% during trading on Thursday . The company traded as low as $43.51 and last traded at $43.11. Approximately 17,674 shares changed hands during trading, a decline of 97% from the average session volume of 523,459 shares. The stock had previously closed at $45.17.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PRG shares. Loop Capital lowered PROG from a “buy” rating to a “hold” rating and set a $48.00 price target on the stock. in a research note on Wednesday. Weiss Ratings raised shares of PROG from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. B. Riley Financial reiterated a “buy” rating on shares of PROG in a report on Thursday, April 30th. 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, Zacks Research lowered shares of PROG from a “strong-buy” rating to a “hold” rating in a report on Monday. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.42.

PROG Price Performance

The firm has a market capitalization of $1.73 billion, a PE ratio of 11.78 and a beta of 1.77. 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 stock has a fifty day moving average price of $36.43 and a 200-day moving average price of $33.29.

PROG (NYSE:PRG) last issued its quarterly earnings data 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 return on equity of 21.94% and a net margin of 5.88%.The firm had revenue of $742.67 million during the quarter, compared to analysts’ expectations of $732.70 million. During the same period in the prior year, the business posted $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. Sell-side analysts forecast that PROG Holdings, Inc will post 4.7 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 19th. PROG’s dividend payout ratio is presently 15.30%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP lifted 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 acquiring an additional 506 shares during the last quarter. Global Assets Advisory LLC purchased a new position in PROG in the first quarter worth $38,000. Federation des caisses Desjardins du Quebec purchased a new position in PROG in the fourth quarter worth $44,000. GAMMA Investing LLC increased its position in shares of PROG by 45.3% during the fourth 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 in the last quarter. Finally, WealthCollab LLC increased its position in shares of PROG by 61.9% during the second 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. Hedge funds and other institutional investors 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.