SummitTX Capital L.P. Purchases 23,922 Shares of PROG Holdings, Inc $PRG

SummitTX Capital L.P. increased its position in shares of PROG Holdings, Inc (NYSE:PRG) by 162.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,662 shares of the fintech holding company’s stock after purchasing an additional 23,922 shares during the period. SummitTX Capital L.P. owned about 0.10% of PROG worth $1,109,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quarry LP raised its position in PROG by 82.8% in the fourth quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock worth $33,000 after purchasing an additional 506 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in PROG during the first quarter valued at approximately $38,000. Federation des caisses Desjardins du Quebec acquired a new stake in PROG during the fourth quarter valued at approximately $44,000. GAMMA Investing LLC grew its stake in shares of PROG by 45.3% in the 4th quarter. GAMMA Investing LLC now owns 1,806 shares of the fintech holding company’s stock valued at $53,000 after purchasing an additional 563 shares during the period. Finally, WealthCollab LLC grew its stake in shares of PROG by 61.9% in the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company’s stock valued at $61,000 after purchasing an additional 800 shares during the period. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PRG shares. TD Cowen lifted their price objective on PROG from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 target price on shares of PROG in a report on Thursday, April 30th. 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 report on Wednesday, July 1st. Stephens lifted their price target on shares of PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, B. Riley Financial restated a “buy” rating on shares of PROG in a research report on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.36.

PROG Price Performance

PROG stock opened at $42.73 on Thursday. The business’s 50-day simple moving average is $40.78 and its 200 day simple moving average is $35.31. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 11.67 and a beta of 1.78. PROG Holdings, Inc has a 12-month low of $25.80 and a 12-month high of $47.73. The company has a quick ratio of 2.41, a current ratio of 4.27 and a debt-to-equity ratio of 1.21.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. The business had revenue of $719.72 million during the quarter, compared to the consensus estimate of $713.50 million. PROG had a net margin of 5.88% and a return on equity of 21.94%. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. As a group, research analysts anticipate that PROG Holdings, Inc will post 4.7 earnings per share for the current year.

PROG Announces Dividend

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

Key PROG News

Here are the key news stories impacting PROG this week:

• Positive Sentiment: PROG reported second-quarter adjusted earnings of $1.19 per share, well above analyst expectations of approximately $0.95-$0.96 and up from $1.02 a year earlier. Revenue of $719.7 million also exceeded the roughly $713.5 million consensus estimate. PROG Holdings Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management described the quarter as strong, with revenue near the high end of its outlook and solid adjusted EBITDA and non-GAAP earnings performance. The results include Purchasing Power, acquired in January, adding another earnings contributor to the portfolio. PROG Holdings Reports Second Quarter 2026 Results
• Positive Sentiment: Full-year 2026 EPS guidance was raised or reaffirmed at $4.75-$5.00, above the approximately $4.66 analyst consensus. Full-year revenue guidance of $3.0 billion-$3.1 billion was broadly in line with expectations. PROG Holdings Earnings and Guidance
• Neutral Sentiment: Third-quarter EPS guidance of $1.00-$1.20 brackets the $1.05 consensus, indicating management expects continued earnings momentum but provided a relatively wide range.
• Negative Sentiment: Third-quarter revenue guidance of $715 million-$750 million has a midpoint of approximately $732.5 million, below the $746.7 million consensus estimate. That outlook may have disappointed investors despite the second-quarter beat. PROG Holdings Q2 Key Metrics
• Negative Sentiment: Investors remain focused on elevated write-offs and pressure on consumers, which could affect leasing demand, credit performance and margins. These concerns likely contributed to the negative market reaction and heavier-than-usual trading volume.

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.