Principal Financial Group Inc. Raises Position in PROG Holdings, Inc $PRG

Principal Financial Group Inc. lifted its holdings in shares of PROG Holdings, Inc (NYSE:PRG) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 292,744 shares of the fintech holding company’s stock after purchasing an additional 17,789 shares during the quarter. Principal Financial Group Inc. owned about 0.74% of PROG worth $8,399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRG. Quarry LP lifted its position in PROG by 82.8% during the fourth quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock worth $33,000 after buying an additional 506 shares during the period. Global Assets Advisory LLC acquired a new position in shares of PROG during the 1st quarter valued at about $38,000. Federation des caisses Desjardins du Quebec purchased a new position in shares of PROG during the 4th quarter worth about $44,000. GAMMA Investing LLC boosted its position in shares of PROG by 45.3% in 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 last quarter. Finally, WealthCollab LLC raised its stake in PROG by 61.9% during the second quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company’s stock worth $61,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 97.92% of the company’s stock.

PROG Stock Down 0.4%

NYSE PRG opened at $43.55 on Monday. The stock has a market cap of $1.75 billion, a PE ratio of 11.90 and a beta of 1.78. PROG Holdings, Inc has a fifty-two week low of $25.80 and a fifty-two week high of $47.73. The business has a 50 day moving average price of $40.17 and a two-hundred day moving average price of $35.03. The company has a quick ratio of 2.41, a current ratio of 4.27 and a debt-to-equity ratio of 1.21.

PROG (NYSE:PRG) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $732.70 million. During the same quarter last year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. As a group, sell-side analysts predict that PROG Holdings, Inc will post 4.7 EPS for the current fiscal year.

PROG Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were paid 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 1.3%. PROG’s payout ratio is 15.30%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PRG shares. Loop Capital downgraded shares of PROG from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a research report on Wednesday, July 1st. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price objective on shares of PROG in a research report on Thursday, April 30th. Wall Street Zen downgraded shares of PROG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 14th. Zacks Research cut shares of PROG from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Jefferies Financial Group upgraded PROG from a “hold” rating to a “buy” rating and increased their price target for the company from $33.00 to $60.00 in a report on Wednesday, July 8th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.36.

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.