Wedge Capital Management L L P NC Trims Holdings in PROG Holdings, Inc $PRG

Wedge Capital Management L L P NC lowered its position in PROG Holdings, Inc (NYSE:PRG) by 19.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 128,987 shares of the fintech holding company’s stock after selling 31,443 shares during the period. Wedge Capital Management L L P NC’s holdings in PROG were worth $6,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quarry LP lifted its stake in PROG by 82.8% during the 4th quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock valued at $33,000 after acquiring an additional 506 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of PROG in the 1st quarter valued at $38,000. Federation des caisses Desjardins du Quebec acquired a new stake in shares of PROG in the fourth quarter worth $44,000. WealthCollab LLC increased its stake 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 worth $61,000 after acquiring an additional 800 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of PROG by 19.2% during the second quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company’s stock worth $136,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PRG. Raymond James Financial restated an “outperform” rating and set a $45.00 target price on shares of PROG in a research report on Thursday, April 30th. Zacks Research upgraded PROG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Wall Street Zen raised PROG from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Jefferies Financial Group raised PROG from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $60.00 in a report on Wednesday, July 8th. Finally, Loop Capital lowered PROG from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, PROG has an average rating of “Moderate Buy” and an average price target of $49.44.

PROG Stock Down 0.4%

NYSE PRG opened at $41.46 on Thursday. The business has a fifty day moving average price of $42.42 and a 200 day moving average price of $36.11. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.29 and a current ratio of 4.03. The company has a market cap of $1.65 billion, a P/E ratio of 11.45 and a beta of 1.79. PROG Holdings, Inc has a one year low of $25.80 and a one year high of $47.73.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.24. PROG had a net margin of 5.57% and a return on equity of 21.88%. The company had revenue of $719.72 million for the quarter, compared to analysts’ expectations 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. Research analysts anticipate that PROG Holdings, Inc will post 4.95 EPS for the current fiscal year.

PROG Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 18th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. PROG’s payout ratio is presently 15.47%.

Insider Activity

In related news, CAO George M. Sewell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $45.53, for a total transaction of $91,060.00. Following the completion of the sale, the chief accounting officer owned 28,385 shares of the company’s stock, valued at approximately $1,292,369.05. This represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Todd King sold 1,070 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $46.00, for a total transaction of $49,220.00. Following the completion of the sale, the insider owned 60,825 shares of the company’s stock, valued at approximately $2,797,950. The trade was a 1.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 4,000 shares of company stock valued at $183,060. 3.72% of the stock is owned by corporate insiders.

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.