PROG (NYSE:PRG) Reaches New 12-Month High – Here’s What Happened

PROG Holdings, Inc (NYSE:PRG) shares reached a new 52-week high during trading on Thursday . The company traded as high as $47.73 and last traded at $47.5330, with a volume of 417240 shares changing hands. The stock had previously closed at $46.51.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research lowered PROG from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Jefferies Financial Group raised PROG from a “hold” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $60.00 in a research report on Wednesday, July 8th. 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 report on Tuesday, July 7th. Wall Street Zen cut shares of PROG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 14th. Finally, Loop Capital cut shares of PROG from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a research report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.36.

PROG Stock Down 2.2%

The business has a 50-day simple moving average of $39.15 and a 200-day simple moving average of $34.48. 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 company has a market cap of $1.86 billion, a price-to-earnings ratio of 12.70 and a beta of 1.78.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.46. PROG had a net margin of 5.88% and a return on equity of 21.94%. The business had revenue of $742.67 million for the quarter, compared to analyst estimates of $732.70 million. During the same period last year, the business earned $0.90 EPS. The company’s revenue was up 11.1% on a year-over-year basis. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. On average, equities analysts anticipate that PROG Holdings, Inc will post 4.7 earnings per share for the current fiscal year.

PROG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, May 19th. PROG’s payout ratio is 15.30%.

Hedge Funds Weigh In On PROG

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of PROG by 19.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company’s stock worth $136,000 after buying an additional 468 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in PROG during the first quarter worth $837,000. Bank of America Corp DE grew its holdings in PROG by 4.7% during the first quarter. Bank of America Corp DE now owns 151,827 shares of the fintech holding company’s stock worth $4,356,000 after acquiring an additional 6,760 shares during the period. Amundi raised its position in PROG by 23.6% in the first quarter. Amundi now owns 9,589 shares of the fintech holding company’s stock worth $275,000 after acquiring an additional 1,832 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in PROG by 27.5% in the first quarter. California State Teachers Retirement System now owns 49,601 shares of the fintech holding company’s stock valued at $1,423,000 after acquiring an additional 10,701 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.

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.