PROG (NYSE:PRG) Reaches New 1-Year High – Should You Buy?

PROG Holdings, Inc (NYSE:PRG)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $41.42 and last traded at $40.9550, with a volume of 88038 shares traded. The stock had previously closed at $39.43.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TD Cowen raised their target price on shares of PROG from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Zacks Research raised shares of PROG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Wall Street Zen lowered shares of PROG from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. Stephens lifted their price objective on shares of PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings downgraded PROG from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.70.

PROG Trading Up 3.8%

The company has a market cap of $1.64 billion, a price-to-earnings ratio of 11.18 and a beta of 1.82. The company has a quick ratio of 2.41, a current ratio of 4.27 and a debt-to-equity ratio of 1.21. The business’s fifty day simple moving average is $34.77 and its two-hundred day simple moving average is $32.66.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.46. PROG had a net margin of 5.88% and a return on equity of 21.94%. The firm had revenue of $742.67 million for the quarter, compared to the consensus estimate of $732.70 million. During the same period last year, the firm posted $0.90 EPS. The company’s revenue was up 11.1% on a year-over-year basis. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. On average, equities analysts predict that PROG Holdings, Inc will post 4.7 EPS for the current year.

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.56 annualized dividend and a yield of 1.4%. PROG’s payout ratio is 15.30%.

Hedge Funds Weigh In On PROG

A number of hedge funds have recently modified their holdings of PRG. Envestnet Portfolio Solutions Inc. grew its position in PROG by 2.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,199 shares of the fintech holding company’s stock valued at $389,000 after buying an additional 344 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of PROG by 1.7% in the 1st quarter. HB Wealth Management LLC now owns 21,470 shares of the fintech holding company’s stock worth $616,000 after acquiring an additional 359 shares during the period. Quarry LP lifted its stake 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 acquiring an additional 506 shares during the period. Horizon Investments LLC boosted its holdings in shares of PROG by 2.6% in the fourth quarter. Horizon Investments LLC now owns 20,948 shares of the fintech holding company’s stock valued at $618,000 after acquiring an additional 537 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of PROG by 45.3% during the fourth quarter. GAMMA Investing LLC now owns 1,806 shares of the fintech holding company’s stock worth $53,000 after acquiring an additional 563 shares during the period. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

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.