Empowered Funds LLC Acquires 40,605 Shares of PROG Holdings, Inc $PRG

Key Points

• Empowered Funds increased its PROG Holdings stake by 30.4% in the first quarter, adding 40,605 shares to own 174,335 shares valued at approximately $5 million. Institutional investors collectively own 97.92% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $49.44. Price targets range from $45 to $64, although Loop Capital downgraded the stock to “Hold.”
• PROG reported quarterly EPS of $1.19, exceeding estimates of $0.95, on revenue of $719.72 million. The company also pays a $0.14 quarterly dividend, equivalent to a 1.3% yield.

Empowered Funds LLC grew its holdings in PROG Holdings, Inc (NYSE:PRG - Free Report) by 30.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,335 shares of the fintech holding company's stock after purchasing an additional 40,605 shares during the quarter. Empowered Funds LLC owned about 0.44% of PROG worth $5,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in PROG by 23.4% in the first quarter. Royal Bank of Canada now owns 35,910 shares of the fintech holding company's stock worth $955,000 after purchasing an additional 6,807 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PROG by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company's stock valued at $648,000 after buying an additional 1,162 shares during the period. Millennium Management LLC boosted its holdings in shares of PROG by 62.7% during the 1st quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company's stock worth $17,913,000 after buying an additional 259,630 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of PROG by 5.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the fintech holding company's stock worth $8,342,000 after buying an additional 16,126 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of PROG during the 1st quarter worth approximately $233,000. Institutional investors own 97.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of PROG from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings upgraded shares of PROG from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, June 24th. B. Riley Financial increased their price objective on shares of PROG from $57.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday. Loop Capital downgraded PROG from a "buy" rating to a "hold" rating and set a $48.00 target price for the company. in a research note on Wednesday, July 1st. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $45.00 target price on shares of PROG in a research report on Thursday, April 30th. 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. According to data from MarketBeat, PROG currently has a consensus rating of "Moderate Buy" and an average target price of $49.44.

PROG Stock Performance

NYSE PRG opened at $43.88 on Friday. The company has a fifty day simple moving average of $41.19 and a 200 day simple moving average of $35.44. PROG Holdings, Inc has a 12-month low of $25.80 and a 12-month high of $47.73. The company has a current ratio of 4.03, a quick ratio of 2.41 and a debt-to-equity ratio of 1.10. The company has a market cap of $1.76 billion, a P/E ratio of 12.12 and a beta of 1.78.

PROG (NYSE:PRG - Get Free Report) last announced 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 business had revenue of $719.72 million during 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. Sell-side analysts predict that PROG Holdings, Inc will post 4.95 earnings per share for the current fiscal year.

PROG Announces Dividend

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