PROG (NYSE:PRG) Downgraded to Hold Rating by Zacks Research

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

A number of other analysts have also recently issued reports on the company. Stephens lifted their price objective on PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 target price on shares of PROG in a research report on Thursday, April 30th. Weiss Ratings raised PROG from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Loop Capital lowered PROG from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Wall Street Zen cut PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, PROG presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.70.

PROG Stock Up 1.4%

PRG stock opened at $46.72 on Monday. PROG has a 12-month low of $25.80 and a 12-month high of $47.60. 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 company has a market cap of $1.87 billion, a price-to-earnings ratio of 12.77 and a beta of 1.82. The company has a 50 day moving average of $36.18 and a two-hundred day moving average of $33.18.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share (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 company had revenue of $742.67 million during the quarter, compared to analyst estimates of $732.70 million. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue for the quarter 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 anticipate that PROG will post 4.7 earnings per share for the current fiscal year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, May 19th. PROG’s dividend payout ratio is 15.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRG. Royal Bank of Canada lifted its holdings in PROG by 23.4% in the 1st quarter. Royal Bank of Canada now owns 35,910 shares of the fintech holding company’s stock worth $955,000 after purchasing an additional 6,807 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in PROG by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company’s stock valued at $648,000 after purchasing an additional 1,162 shares during the last quarter. Millennium Management LLC grew its holdings in PROG by 62.7% during the first quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company’s stock valued at $17,913,000 after purchasing an additional 259,630 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of PROG by 5.4% in the first quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the fintech holding company’s stock valued at $8,342,000 after purchasing an additional 16,126 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of PROG in the first quarter worth $233,000. 97.92% of the stock is owned by institutional investors.

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.