PROG (NYSE:PRG) Stock Falls 7.1% – Time to Sell?

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

Analyst Ratings Changes

Several equities research analysts recently commented on PRG shares. TD Cowen boosted their target price on PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Loop Capital lowered PROG from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a report on Wednesday, July 1st. KeyCorp upped their price target on shares of PROG from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings lowered shares of PROG from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Finally, Jefferies Financial Group set a $50.00 price target on shares of PROG in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.19.

PROG Stock Down 5.0%

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 company has a market cap of $1.18 billion, a price-to-earnings ratio of 8.21 and a beta of 1.78. The business has a fifty day moving average price of $38.21 and a two-hundred day moving average price of $36.99.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.24. PROG had a net margin of 5.57% and a return on equity of 21.88%. The company 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. On average, equities analysts predict that PROG Holdings, Inc will post 4.93 earnings per share for the current year.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 18th were issued 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 1.9%. PROG’s dividend payout ratio (DPR) is presently 15.47%.

Insiders Place Their Bets

In other news, insider Michael King sold 1,070 shares of PROG stock in a transaction that occurred 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 completion of the sale, the insider owned 60,825 shares in the company, valued at $2,797,950. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO George M. Sewell sold 2,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $45.53, for a total value of $91,060.00. Following the completion of 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. Over the last 90 days, insiders sold 4,000 shares of company stock valued at $183,060. 3.72% of the stock is currently owned by corporate insiders.

Institutional Trading of PROG

A number of large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of PROG in the second quarter valued at approximately $1,985,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of PROG during the second quarter worth $1,552,000. Squarepoint Ops LLC lifted its position in PROG by 143.0% in the 2nd quarter. Squarepoint Ops LLC now owns 107,278 shares of the fintech holding company’s stock valued at $5,000,000 after acquiring an additional 63,128 shares in the last quarter. Wellington Management Group LLP lifted its position in PROG by 12.5% in the 2nd quarter. Wellington Management Group LLP now owns 697,324 shares of the fintech holding company’s stock valued at $32,502,000 after acquiring an additional 77,291 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in PROG in the 1st quarter worth $837,000. 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.