Legato Capital Management LLC Sells 25,723 Shares of PROG Holdings, Inc $PRG

Legato Capital Management LLC reduced its position in shares of PROG Holdings, Inc (NYSE:PRG) by 53.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,728 shares of the fintech holding company’s stock after selling 25,723 shares during the quarter. Legato Capital Management LLC owned approximately 0.06% of PROG worth $670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allianz Asset Management GmbH increased its position in PROG by 18.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,187,509 shares of the fintech holding company’s stock valued at $38,428,000 after purchasing an additional 188,835 shares during the period. LSV Asset Management increased its position in PROG by 37.7% during the 4th quarter. LSV Asset Management now owns 1,159,874 shares of the fintech holding company’s stock valued at $34,205,000 after purchasing an additional 317,600 shares during the period. UBS Group AG increased its position in PROG by 102.4% during the 3rd quarter. UBS Group AG now owns 823,663 shares of the fintech holding company’s stock valued at $26,654,000 after purchasing an additional 416,658 shares during the period. Ameriprise Financial Inc. increased its position in PROG by 1.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 756,270 shares of the fintech holding company’s stock valued at $24,473,000 after purchasing an additional 8,552 shares during the period. Finally, First Trust Advisors LP increased its position in PROG by 451.1% during the 3rd quarter. First Trust Advisors LP now owns 702,781 shares of the fintech holding company’s stock valued at $22,742,000 after purchasing an additional 575,255 shares during the period. 97.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRG has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of PROG from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Stephens boosted their price objective 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. Zacks Research raised shares of PROG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Wall Street Zen raised shares of PROG from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of PROG in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.70.

PROG Stock Up 4.7%

NYSE:PRG opened at $35.03 on Wednesday. The firm’s 50-day moving average price is $31.32 and its 200-day moving average price is $31.38. The company has a market capitalization of $1.40 billion, a PE ratio of 9.57 and a beta of 1.83. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.27 and a quick ratio of 2.41. PROG Holdings, Inc has a 1-year low of $25.80 and a 1-year high of $41.14.

PROG (NYSE:PRG) last released its 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. The firm had revenue of $742.67 million for the quarter, compared to the consensus estimate of $732.70 million. PROG had a net margin of 5.88% and a return on equity of 21.94%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. On average, equities analysts predict that PROG Holdings, Inc will post 4.7 EPS for the current fiscal year.

PROG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, May 19th. PROG’s dividend payout ratio is 15.30%.

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.