PROG (NYSE:PRG) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of PROG (NYSE:PRG) from a strong-buy rating to a buy rating in a research report report published on Sunday,Wall Street Zen reports.

Other research analysts also recently issued reports about the stock. TD Cowen boosted their price objective on shares of PROG from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Zacks Research upgraded shares of PROG from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Loop Capital lowered shares of PROG from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research note on Wednesday, July 1st. B. Riley Financial boosted their price target on shares of PROG from $57.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Jefferies Financial Group raised shares of PROG from a “hold” rating to a “buy” rating and upped their price target for the stock from $33.00 to $60.00 in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

PROG Stock Down 3.1%

NYSE:PRG opened at $38.05 on Friday. The business’s fifty day moving average price is $42.54 and its 200 day moving average price is $36.93. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 10.51 and a beta of 1.76. The company has a current ratio of 4.03, a quick ratio of 2.29 and a debt-to-equity ratio of 1.10. PROG has a 1-year low of $25.80 and a 1-year high of $47.73.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. The firm had revenue of $719.72 million during the quarter, compared to analyst estimates of $713.50 million. PROG had a return on equity of 21.88% and a net margin of 5.57%.PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. On average, sell-side analysts forecast that PROG will post 4.95 earnings per share for the current fiscal year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 18th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 18th. PROG’s payout ratio is currently 15.47%.

Insider Buying and Selling at PROG

In related news, insider Michael King sold 1,070 shares of PROG stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.00, for a total value of $49,220.00. Following the completion of the sale, the insider owned 60,825 shares of the company’s stock, valued at approximately $2,797,950. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO George M. Sewell sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $45.53, for a total transaction of $91,060.00. Following the completion of the sale, the chief accounting officer owned 28,385 shares of the company’s stock, valued at $1,292,369.05. This represents a 6.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 4,000 shares of company stock worth $183,060. 3.72% of the stock is currently owned by company insiders.

Institutional Trading of PROG

Institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in shares of PROG by 4,444.7% during the 2nd quarter. California State Teachers Retirement System now owns 2,254,199 shares of the fintech holding company’s stock valued at $105,068,000 after acquiring an additional 2,204,598 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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 worth $53,792,000 after purchasing an additional 1,483,751 shares during the period. First Trust Advisors LP grew its holdings in PROG by 588.0% during the first quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock valued at $24,100,000 after purchasing an additional 717,932 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in PROG during the second quarter valued at approximately $31,229,000. Finally, Ancora Advisors LLC bought a new position in shares of PROG in the second quarter valued at approximately $22,288,000. Institutional investors and hedge funds 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.