Bank of New York Mellon Corp Has $17.58 Million Holdings in PROG Holdings, Inc $PRG

Bank of New York Mellon Corp grew its position in PROG Holdings, Inc (NYSE:PRG - Free Report) by 30.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 612,601 shares of the fintech holding company's stock after acquiring an additional 141,221 shares during the period. Bank of New York Mellon Corp owned 1.55% of PROG worth $17,576,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Illinois Municipal Retirement Fund grew its position in PROG by 19.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 23,828 shares of the fintech holding company's stock worth $684,000 after acquiring an additional 3,845 shares during the last quarter. Principal Financial Group Inc. raised its position in PROG by 6.5% in the first quarter. Principal Financial Group Inc. now owns 292,744 shares of the fintech holding company's stock valued at $8,399,000 after purchasing an additional 17,789 shares during the last quarter. Global Assets Advisory LLC bought a new position in PROG in the first quarter valued at about $38,000. Fifth Third Bancorp boosted its stake in shares of PROG by 13,003.7% during the first quarter. Fifth Third Bancorp now owns 49,794 shares of the fintech holding company's stock valued at $1,429,000 after purchasing an additional 49,414 shares in the last quarter. Finally, DGS Capital Management LLC boosted 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. Institutional investors and hedge funds own 97.92% of the company's stock.

Wall Street Analyst Weigh In

PRG has been the topic of several research reports. Loop Capital cut PROG from a "buy" rating to a "hold" rating and set a $48.00 price target on the stock. in a report on Wednesday, July 1st. Raymond James Financial reiterated an "outperform" rating and issued a $45.00 price objective on shares of PROG in a report on Thursday, April 30th. B. Riley Financial reiterated a "buy" rating on shares of PROG in a research report on Thursday, April 30th. Stephens boosted their target price on shares of PROG from $40.00 to $47.50 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Wall Street Zen cut shares of PROG from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 14th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.36.

PROG Trading Down 5.2%

NYSE PRG opened at $42.73 on Thursday. The firm has a market capitalization of $1.71 billion, a PE ratio of 11.67 and a beta of 1.78. The business's 50-day moving average price is $40.78 and its two-hundred day moving average price is $35.31. 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 Holdings, Inc has a 12 month low of $25.80 and a 12 month high of $47.73.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.24. The company had revenue of $719.72 million during the quarter, compared to the consensus estimate of $713.50 million. PROG had a return on equity of 21.94% and a net margin of 5.88%.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, analysts expect that PROG Holdings, Inc will post 4.7 EPS for the current year.

PROG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 19th. PROG's dividend payout ratio is currently 15.30%.

PROG News Roundup

Here are the key news stories impacting PROG this week:

• Positive Sentiment: PROG reported second-quarter adjusted earnings of $1.19 per share, well above analyst expectations of approximately $0.95-$0.96 and up from $1.02 a year earlier. Revenue of $719.7 million also exceeded the roughly $713.5 million consensus estimate. PROG Holdings Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Management described the quarter as strong, with revenue near the high end of its outlook and solid adjusted EBITDA and non-GAAP earnings performance. The results include Purchasing Power, acquired in January, adding another earnings contributor to the portfolio. PROG Holdings Reports Second Quarter 2026 Results
• Positive Sentiment: Full-year 2026 EPS guidance was raised or reaffirmed at $4.75-$5.00, above the approximately $4.66 analyst consensus. Full-year revenue guidance of $3.0 billion-$3.1 billion was broadly in line with expectations. PROG Holdings Earnings and Guidance
• Neutral Sentiment: Third-quarter EPS guidance of $1.00-$1.20 brackets the $1.05 consensus, indicating management expects continued earnings momentum but provided a relatively wide range.
• Negative Sentiment: Third-quarter revenue guidance of $715 million-$750 million has a midpoint of approximately $732.5 million, below the $746.7 million consensus estimate. That outlook may have disappointed investors despite the second-quarter beat. PROG Holdings Q2 Key Metrics
• Negative Sentiment: Investors remain focused on elevated write-offs and pressure on consumers, which could affect leasing demand, credit performance and margins. These concerns likely contributed to the negative market reaction and heavier-than-usual trading volume.

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.

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