PROG Holdings, Inc $PRG Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its stake in PROG Holdings during the first quarter, lifting its position by 13,003.7% to 49,794 shares valued at about $1.43 million.
• PROG reported strong quarterly results, with EPS of $1.24 beating estimates and revenue of $742.67 million topping expectations; revenue also rose 11.1% year over year.
• Analyst sentiment is mixed but generally positive, with several firms upgrading the stock and MarketBeat showing an average rating of Moderate Buy and a $47.36 price target.

Fifth Third Bancorp raised its stake in shares of PROG Holdings, Inc (NYSE:PRG - Free Report) by 13,003.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,794 shares of the fintech holding company's stock after acquiring an additional 49,414 shares during the quarter. Fifth Third Bancorp owned approximately 0.13% of PROG worth $1,429,000 at the end of the most recent quarter.

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

PROG Stock Performance

PRG stock opened at $43.47 on Friday. PROG Holdings, Inc has a 1 year low of $25.80 and a 1 year high of $47.73. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 11.88 and a beta of 1.78. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.41 and a current ratio of 4.27. The stock's fifty day moving average is $39.97 and its two-hundred day moving average is $34.93.

PROG (NYSE:PRG - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.78 by $0.46. PROG had a net margin of 5.88% and a return on equity of 21.94%. The business had revenue of $742.67 million during the quarter, compared to analyst estimates of $732.70 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The company'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. On average, research analysts predict 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 $0.14 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.56 annualized dividend and a yield of 1.3%. PROG's dividend payout ratio is 15.30%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PRG. B. Riley Financial reissued a "buy" rating on shares of PROG in a research report on Thursday, April 30th. Jefferies Financial Group raised shares of PROG from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $33.00 to $60.00 in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of PROG from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, June 24th. Loop Capital cut shares of 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. Finally, Zacks Research downgraded shares of PROG from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, PROG currently has an average rating of "Moderate Buy" and an average price target of $47.36.

PROG Company 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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