Empowered Funds LLC Raises Position in PROG Holdings, Inc $PRG

Empowered Funds LLC grew its stake in PROG Holdings, Inc (NYSE:PRG) by 30.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,335 shares of the fintech holding company’s stock after purchasing an additional 40,605 shares during the quarter. Empowered Funds LLC’s holdings in PROG were worth $5,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PRG. Quarry LP raised its position in PROG by 82.8% in the 4th quarter. Quarry LP now owns 1,117 shares of the fintech holding company’s stock valued at $33,000 after buying an additional 506 shares during the last quarter. Global Assets Advisory LLC bought a new position in PROG during the 1st quarter valued at $38,000. Federation des caisses Desjardins du Quebec purchased a new position in PROG during the 4th quarter worth $44,000. WealthCollab LLC boosted its holdings in PROG by 61.9% during the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company’s stock worth $61,000 after acquiring an additional 800 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of PROG in the 1st quarter worth $129,000. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PRG. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 target price on shares of PROG in a report on Thursday, April 30th. B. Riley Financial boosted their price target on shares of PROG from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp increased their price objective on shares of PROG from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday. Jefferies Financial Group raised shares of PROG from a “hold” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $60.00 in a research report on Wednesday, July 8th. Finally, Zacks Research upgraded PROG from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.44.

PROG Stock Up 2.1%

Shares of NYSE:PRG opened at $43.88 on Friday. PROG Holdings, Inc has a 1 year low of $25.80 and a 1 year high of $47.73. The company has a market capitalization of $1.76 billion, a PE ratio of 12.12 and a beta of 1.78. The business has a fifty day moving average price of $41.19 and a two-hundred day moving average price of $35.44. The company has a debt-to-equity ratio of 1.10, a current ratio of 4.03 and a quick ratio of 2.41.

PROG (NYSE:PRG) last released its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.24. The company had revenue of $719.72 million for the quarter, compared to analysts’ expectations of $713.50 million. PROG had a return on equity of 21.88% and a net margin of 5.57%.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 forecast that PROG Holdings, Inc will post 4.95 earnings per share for the current year.

PROG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a $0.14 dividend. 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 currently 15.47%.

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.