PROG (NYSE:PRG) Stock Price Down 7.1% – Here’s Why

PROG Holdings, Inc (NYSE:PRG) fell 7.1% during trading on Wednesday. The company traded as low as $29.22 and last traded at $29.0480. Approximately 472,332 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 535,896 shares. The stock had previously closed at $31.28.

Wall Street Analyst Weigh In

PRG has been the topic of a number of recent analyst reports. Loop Capital upgraded PROG from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Thursday. KeyCorp increased their target price on shares of PROG from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. B. Riley Financial lifted their price target on shares of PROG from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Jefferies Financial Group dropped their price objective on PROG from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Zacks Research lowered PROG from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.81.

PROG Stock Performance

The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 8.57 and a beta of 1.78. The company has a current ratio of 4.03, a quick ratio of 2.29 and a debt-to-equity ratio of 1.10. The stock’s 50 day moving average is $37.72 and its two-hundred day moving average is $37.03.

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, 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 business 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. Analysts expect that PROG Holdings, Inc will post 4.93 earnings per share for the current fiscal year.

PROG Dividend Announcement

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

Insider Buying and Selling

In related news, insider Michael King sold 1,070 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $46.00, for a total transaction of $49,220.00. Following the transaction, the insider directly owned 60,825 shares in the company, valued at approximately $2,797,950. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO George M. Sewell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $45.53, for a total value of $91,060.00. Following the transaction, the chief accounting officer directly owned 28,385 shares in the company, valued at approximately $1,292,369.05. This trade represents a 6.58% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,000 shares of company stock worth $183,060. Company insiders own 3.72% of the company’s stock.

Hedge Funds Weigh In On PROG

A number of large investors have recently made changes to their positions in PRG. Cim Investment Management Inc. bought a new stake in shares of PROG in the second quarter valued at about $308,000. Envestnet Portfolio Solutions Inc. lifted its stake in PROG by 5.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,465 shares of the fintech holding company’s stock valued at $628,000 after purchasing an additional 756 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of PROG during the second quarter valued at about $34,000. Squarepoint Ops LLC increased its holdings in PROG by 143.0% in the second quarter. Squarepoint Ops LLC now owns 107,278 shares of the fintech holding company’s stock valued at $5,000,000 after purchasing an additional 63,128 shares during the period. Finally, Allworth Financial LP increased its position in PROG by 61.9% during the 2nd quarter. Allworth Financial LP now owns 897 shares of the fintech holding company’s stock valued at $42,000 after purchasing an additional 343 shares during the period. Institutional investors own 97.92% of the company’s stock.

PROG Company Profile

PROG Holdings, Inc is a financial technology company that provides flexible payment and lease-to-own solutions to consumers and retail partners. Its primary business is Progressive Leasing, an omnichannel lease-to-own platform that enables customers to acquire products through participating retailers and repay over time through structured lease payments.

Progressive Leasing supports purchases across categories such as furniture, appliances, electronics, mattresses, jewelry and other household goods.