PROG (NYSE:PRG) Stock Moved Down to “Hold” by Zacks Research

Zacks Research downgraded shares of PROG (NYSE:PRG) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks reports.

Several other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group upgraded shares of PROG from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $60.00 in a research report on Wednesday, July 8th. B. Riley Financial increased their price target on PROG from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Wall Street Zen lowered PROG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 6th. KeyCorp upped their target price on PROG from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, TD Cowen lifted their target price on PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.44.

PROG Stock Performance

Shares of PROG stock opened at $31.46 on Monday. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 8.69 and a beta of 1.76. PROG has a twelve month low of $25.80 and a twelve month high of $47.73. The company’s fifty day moving average is $39.51 and its 200 day moving average is $36.90. The company has a quick ratio of 2.29, a current ratio of 4.03 and a debt-to-equity ratio of 1.10.

PROG (NYSE:PRG) last released its quarterly 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. PROG had a return on equity of 21.88% and a net margin of 5.57%.The firm had revenue of $719.72 million for the quarter, compared to analyst estimates of $713.50 million. PROG has set its Q3 2026 guidance at 1.000-1.200 EPS and its FY 2026 guidance at 4.750-5.000 EPS. Sell-side analysts forecast that PROG will post 4.93 EPS for the current year.

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 18th were paid a dividend of $0.14 per share. The ex-dividend date was Tuesday, August 18th. This represents a $0.56 annualized dividend and a yield of 1.8%. PROG’s dividend payout ratio (DPR) is 15.47%.

Insider Buying and Selling

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

Institutional Investors Weigh In On PROG

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of PROG by 12.5% in the 2nd quarter. Wellington Management Group LLP now owns 697,324 shares of the fintech holding company’s stock worth $32,502,000 after buying an additional 77,291 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of PROG during the second quarter valued at about $31,229,000. First Trust Advisors LP increased its holdings in shares of PROG by 588.0% in the first quarter. First Trust Advisors LP now owns 840,029 shares of the fintech holding company’s stock worth $24,100,000 after buying an additional 717,932 shares during the period. Breach Inlet Capital Management LLC lifted its stake in shares of PROG by 22.4% in the 4th quarter. Breach Inlet Capital Management LLC now owns 762,847 shares of the fintech holding company’s stock valued at $22,496,000 after acquiring an additional 139,398 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new stake in PROG during the 2nd quarter valued at about $22,288,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Company Profile

PROG Holdings, Inc is a financial technology company that provides consumer financing and lease-to-own solutions through its Progressive Leasing business. The company helps consumers obtain merchandise from participating retailers through flexible payment arrangements, including customers who may not qualify for traditional credit.

Progressive Leasing supports in-store, online and omnichannel transactions for products such as furniture, appliances, electronics, mattresses, jewelry and other household goods.