PROG (NYSE:PRG) Hits New 52-Week High – What’s Next?

Shares of PROG Holdings, Inc (NYSE:PRG) hit a new 52-week high on Wednesday . The stock traded as high as $41.42 and last traded at $40.9550, with a volume of 88038 shares changing hands. The stock had previously closed at $39.43.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRG. Weiss Ratings cut shares of PROG from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. B. Riley Financial reissued a “buy” rating on shares of PROG in a research note on Thursday, April 30th. TD Cowen raised their price target on shares of PROG from $40.00 to $45.00 and gave the stock 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. Finally, Wall Street Zen cut PROG from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PROG has an average rating of “Moderate Buy” and a consensus target price of $43.70.

PROG Stock Performance

The firm’s fifty day moving average price is $34.77 and its 200 day moving average price is $32.66. The company has a current ratio of 4.27, a quick ratio of 2.41 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 11.18 and a beta of 1.82.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $732.70 million. During the same quarter last year, the firm earned $0.90 EPS. The firm’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. Analysts forecast that PROG Holdings, Inc will post 4.7 EPS for the current fiscal year.

PROG Dividend Announcement

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

Hedge Funds Weigh In On PROG

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of PROG by 23.4% during the first quarter. Royal Bank of Canada now owns 35,910 shares of the fintech holding company’s stock worth $955,000 after acquiring an additional 6,807 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PROG by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company’s stock worth $648,000 after purchasing an additional 1,162 shares in the last quarter. Millennium Management LLC increased its holdings in PROG by 62.7% during the 1st quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company’s stock worth $17,913,000 after purchasing an additional 259,630 shares during the period. Goldman Sachs Group Inc. increased its holdings in PROG by 5.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the fintech holding company’s stock worth $8,342,000 after purchasing an additional 16,126 shares during the period. Finally, Caxton Associates LLP acquired a new stake in PROG in the 1st quarter valued at about $233,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

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.