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

PROG Holdings, Inc (NYSE:PRG)’s stock price traded down 4.6% during mid-day trading on Thursday . The stock traded as low as $43.51 and last traded at $43.11. 17,674 shares were traded during trading, a decline of 97% from the average session volume of 523,459 shares. The stock had previously closed at $45.17.

Analyst Ratings Changes

A number of equities research analysts have commented on PRG shares. Loop Capital cut PROG from a “buy” rating to a “hold” rating and set a $48.00 price target for the company. in a research note on Wednesday. Wall Street Zen lowered PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Stephens upped their price objective on shares of PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of PROG in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of PROG from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, PROG has a consensus rating of “Moderate Buy” and a consensus target price 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 firm’s fifty day moving average price is $36.43 and its 200 day moving average price is $33.29. The company has a current ratio of 4.27, a quick ratio of 2.41 and a debt-to-equity ratio of 1.21.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 EPS 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 return on equity of 21.94% and a net margin of 5.88%.The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. As a group, equities analysts forecast that PROG Holdings, Inc will post 4.7 earnings per share for the current year.

PROG Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRG. Segall Bryant & Hamill LLC purchased a new stake in shares of PROG during the 1st quarter worth about $837,000. Bank of America Corp DE increased its stake in shares of PROG by 4.7% in the 1st quarter. Bank of America Corp DE now owns 151,827 shares of the fintech holding company’s stock valued at $4,356,000 after purchasing an additional 6,760 shares in the last quarter. Amundi increased its stake in shares of PROG by 23.6% in the 1st quarter. Amundi now owns 9,589 shares of the fintech holding company’s stock valued at $275,000 after purchasing an additional 1,832 shares in the last quarter. California State Teachers Retirement System raised its holdings in PROG by 27.5% in the 1st quarter. California State Teachers Retirement System now owns 49,601 shares of the fintech holding company’s stock worth $1,423,000 after purchasing an additional 10,701 shares during the period. Finally, Empowered Funds LLC raised its holdings in PROG by 30.4% in the 1st quarter. Empowered Funds LLC now owns 174,335 shares of the fintech holding company’s stock worth $5,002,000 after purchasing an additional 40,605 shares during the period. 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.