PROG Holdings, Inc $PRG Stock Position Lifted by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of PROG Holdings, Inc (NYSE:PRG) by 13,003.7% during the first quarter, Holdings Channel.com reports. The firm owned 49,794 shares of the fintech holding company’s stock after buying an additional 49,414 shares during the quarter. Fifth Third Bancorp’s holdings in PROG were worth $1,429,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. DGS Capital Management LLC raised its stake in shares of PROG by 4.8% during the first quarter. DGS Capital Management LLC now owns 113,097 shares of the fintech holding company’s stock valued at $3,245,000 after purchasing an additional 5,171 shares in the last quarter. HB Wealth Management LLC grew its position in PROG by 1.7% in the 1st quarter. HB Wealth Management LLC now owns 21,470 shares of the fintech holding company’s stock valued at $616,000 after buying an additional 359 shares in the last quarter. Moran Wealth Management LLC grew its position in PROG by 28.2% in the 1st quarter. Moran Wealth Management LLC now owns 159,334 shares of the fintech holding company’s stock valued at $4,571,000 after buying an additional 35,013 shares in the last quarter. Strs Ohio acquired a new position in PROG during the 1st quarter valued at about $129,000. Finally, MQS Management LLC increased its stake in PROG by 11.2% during the 1st quarter. MQS Management LLC now owns 7,902 shares of the fintech holding company’s stock valued at $227,000 after buying an additional 797 shares during the period. 97.92% of the stock is currently owned by institutional investors.

PROG Trading Down 3.4%

Shares of PRG opened at $43.47 on Friday. The business’s 50-day moving average price is $39.97 and its 200 day moving average price is $34.93. The stock has a market capitalization of $1.74 billion, a P/E ratio of 11.88 and a beta of 1.78. PROG Holdings, Inc has a 1-year low of $25.80 and a 1-year high of $47.73. The company has a current ratio of 4.27, a quick ratio of 2.41 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 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 during the quarter, compared to analyst estimates of $732.70 million. During the same period in the prior year, the firm earned $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. Analysts expect that PROG Holdings, Inc will post 4.7 earnings per share for the current 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 given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, May 19th. PROG’s dividend payout ratio is 15.30%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PRG shares. TD Cowen upped their price target on shares of PROG from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Loop Capital lowered shares of PROG from a “buy” rating to a “hold” rating and set a $48.00 price objective on the stock. in a research note on Wednesday, July 1st. Raymond James Financial reissued an “outperform” rating and set a $45.00 target price on shares of PROG in a report on Thursday, April 30th. Stephens upped their target price on PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Zacks Research lowered PROG from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.36.

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.