PROG (NYSE:PRG) Reaches New 52-Week High – Here’s What Happened

PROG Holdings, Inc (NYSE:PRG) reached a new 52-week high on Wednesday . The stock traded as high as $41.42 and last traded at $40.9550, with a volume of 88038 shares changing hands. The stock had previously closed at $39.43.

Wall Street Analysts Forecast Growth

PRG has been the subject of a number of recent research reports. B. Riley Financial reaffirmed a “buy” rating on shares of PROG in a report on Thursday, April 30th. TD Cowen lifted their price target on PROG from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Zacks Research upgraded PROG from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Wall Street Zen downgraded PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of PROG in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.70.

PROG Stock Up 4.8%

The company has a debt-to-equity ratio of 1.21, a current ratio of 4.27 and a quick ratio of 2.41. The company has a market capitalization of $1.73 billion, a P/E ratio of 11.83 and a beta of 1.82. The stock has a 50-day moving average price of $35.26 and a 200-day moving average price of $32.84.

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

PROG Dividend Announcement

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

Hedge Funds Weigh In On PROG

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in PROG by 436.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,824,091 shares of the fintech holding company’s stock worth $53,792,000 after acquiring an additional 1,483,751 shares during the period. State Street Corp lifted its stake in shares of PROG by 5.6% in the 4th quarter. State Street Corp now owns 1,679,355 shares of the fintech holding company’s stock valued at $49,524,000 after purchasing an additional 89,035 shares during the period. LSV Asset Management lifted its stake in shares of PROG by 37.7% in 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. First Trust Advisors LP boosted its position in shares of PROG by 588.0% during the 1st 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 in the last quarter. Finally, UBS Group AG boosted its position in shares of 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 in the last quarter. 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.