Ancora Advisors LLC Invests $22.29 Million in PROG Holdings, Inc $PRG

Key Points

• Ancora Advisors initiated a $22.29 million position in PROG Holdings during the second quarter, acquiring 478,176 shares—about 1.2% of the company. Institutional investors and hedge funds collectively own 97.92% of PROG.
• PROG reported quarterly EPS of $1.19, beating estimates of $0.95, while revenue reached $719.72 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $49.44.
• The company declared a quarterly dividend of $0.14 per share, equivalent to $0.56 annually and a 1.4% yield. Two insiders sold a combined 3,070 shares on August 5, and insiders have sold 4,000 shares worth $183,060 over the past 90 days.

Ancora Advisors LLC bought a new position in shares of PROG Holdings, Inc (NYSE:PRG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 478,176 shares of the fintech holding company's stock, valued at approximately $22,288,000. Ancora Advisors LLC owned about 1.20% of PROG at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quarry LP increased its holdings in PROG by 82.8% in the fourth 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 in the last quarter. Global Assets Advisory LLC acquired a new position in shares of PROG during the 1st quarter worth approximately $38,000. Federation des caisses Desjardins du Quebec purchased a new position in shares of PROG during the 4th quarter valued at approximately $44,000. WealthCollab LLC lifted its position in shares of PROG by 61.9% during the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the fintech holding company's stock valued at $61,000 after buying an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in PROG by 19.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,911 shares of the fintech holding company's stock valued at $136,000 after acquiring an additional 468 shares during the period. 97.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PROG news, insider Michael Todd King sold 1,070 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $46.00, for a total transaction of $49,220.00. Following the sale, the insider owned 60,825 shares in the company, valued at $2,797,950. This represents a 1.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO George M. Sewell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $45.53, for a total transaction of $91,060.00. Following the completion of the sale, 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. In the last 90 days, insiders have sold 4,000 shares of company stock worth $183,060. 3.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PRG shares. KeyCorp lifted their price objective on PROG from $45.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Raymond James Financial reaffirmed an "outperform" rating and set a $45.00 target price on shares of PROG in a report on Thursday, April 30th. Weiss Ratings upgraded shares of PROG from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. Loop Capital cut shares of PROG from a "buy" rating to a "hold" rating and set a $48.00 price objective for the company. in a research note on Wednesday, July 1st. Finally, Jefferies Financial Group upgraded shares of PROG from a "hold" rating to a "buy" rating and increased their price objective for the company from $33.00 to $60.00 in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, PROG presently has a consensus rating of "Moderate Buy" and an average price target of $49.44.

PROG Trading Up 1.7%

Shares of PROG stock opened at $39.72 on Wednesday. The stock has a 50 day moving average of $43.11 and a 200 day moving average of $36.60. The company has a debt-to-equity ratio of 1.10, a quick ratio of 2.29 and a current ratio of 4.03. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 10.97 and a beta of 1.79. PROG Holdings, Inc has a fifty-two week low of $25.80 and a fifty-two week high of $47.73.

PROG (NYSE:PRG - Get Free Report) last posted its 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. The company had revenue of $719.72 million for the quarter, compared to the consensus estimate 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. As a group, research analysts predict that PROG Holdings, Inc will post 4.95 earnings per share for the current year.

PROG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. PROG's dividend payout ratio is 15.47%.

PROG 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.

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