VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Stake in PROG Holdings, Inc $PRG

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of PROG Holdings, Inc (NYSE:PRG) in the second quarter, Holdings Channel.com reports. The fund bought 33,300 shares of the fintech holding company’s stock, valued at approximately $1,552,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP lifted its holdings in shares of PROG by 82.8% in the 4th quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock worth $33,000 after buying an additional 506 shares during the period. Global Assets Advisory LLC purchased a new position in shares of PROG during the first quarter valued at $38,000. Ameritas Advisory Services LLC purchased a new position in shares of PROG during the second quarter valued at $44,000. Federation des caisses Desjardins du Quebec bought a new stake in shares of PROG in the fourth quarter valued at about $44,000. Finally, WealthCollab LLC raised its holdings in shares of PROG by 61.9% in the second quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company’s stock valued at $61,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PRG shares. B. Riley Financial boosted their price objective on shares of PROG from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group raised PROG from a “hold” rating to a “buy” rating and increased their target price for the company from $33.00 to $60.00 in a research report on Wednesday, July 8th. Wall Street Zen lowered PROG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 6th. TD Cowen upped their price objective on PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings raised PROG from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.44.

PROG Trading Down 0.6%

NYSE PRG opened at $36.91 on Friday. The company has a quick ratio of 2.29, a current ratio of 4.03 and a debt-to-equity ratio of 1.10. The firm has a market cap of $1.47 billion, a PE ratio of 10.20 and a beta of 1.76. The company has a 50 day moving average price of $42.10 and a 200 day moving average price of $36.88. PROG Holdings, Inc has a 52 week low of $25.80 and a 52 week high of $47.73.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $719.72 million during the quarter, compared to analysts’ expectations of $713.50 million. PROG had a net margin of 5.57% and a return on equity of 21.88%. 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, sell-side analysts forecast that PROG Holdings, Inc will post 4.95 EPS for the current fiscal year.

PROG Dividend Announcement

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

Insider Buying and Selling at PROG

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

PROG 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.