Y Intercept Hong Kong Ltd Trims Holdings in PROG Holdings, Inc $PRG

Key Points

• Y Intercept Hong Kong Ltd cut its PROG Holdings stake by 47.2% in the first quarter, selling 49,592 shares and ending with 55,507 shares worth about $1.59 million.
• PROG reported stronger-than-expected quarterly results, posting $1.24 EPS versus $0.78 expected and revenue of $742.67 million, up 11.1% year over year. The company also issued Q2 2026 EPS guidance of 1.05.
• Analyst sentiment remains constructive, with TD Cowen and Jefferies raising price targets and Jefferies upgrading the stock to Buy. The consensus rating is currently Moderate Buy with an average target price of $47.36.

Y Intercept Hong Kong Ltd lowered its stake in shares of PROG Holdings, Inc (NYSE:PRG - Free Report) by 47.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 55,507 shares of the fintech holding company's stock after selling 49,592 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.14% of PROG worth $1,592,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Portolan Capital Management LLC acquired a new stake in shares of PROG in the third quarter valued at $4,859,000. Wedge Capital Management L L P NC lifted its stake in PROG by 37.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 132,702 shares of the fintech holding company's stock worth $3,913,000 after acquiring an additional 36,013 shares in the last quarter. SG Americas Securities LLC lifted its stake in PROG by 113.5% during the 4th quarter. SG Americas Securities LLC now owns 40,807 shares of the fintech holding company's stock worth $1,203,000 after acquiring an additional 21,698 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in PROG by 28.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 447,192 shares of the fintech holding company's stock valued at $13,188,000 after acquiring an additional 98,756 shares during the period. Finally, Moran Wealth Management LLC boosted its holdings in PROG by 91.2% during the 4th quarter. Moran Wealth Management LLC now owns 124,321 shares of the fintech holding company's stock valued at $3,666,000 after acquiring an additional 59,297 shares during the period. Institutional investors and hedge funds own 97.92% of the company's stock.

PROG Stock Up 2.0%

Shares of NYSE:PRG opened at $44.12 on Friday. PROG Holdings, Inc has a fifty-two week low of $25.80 and a fifty-two week high of $47.60. The firm's 50 day moving average price is $37.96 and its 200 day moving average price is $33.86. The company has a quick ratio of 2.41, a current ratio of 4.27 and a debt-to-equity ratio of 1.21. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 12.05 and a beta of 1.78.

PROG (NYSE:PRG - Get Free Report) last posted 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 company had revenue of $742.67 million during the quarter, compared to analysts' expectations of $732.70 million. During the same quarter in the previous year, the business posted $0.90 EPS. The firm's revenue was up 11.1% on a year-over-year basis. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. As a group, equities research analysts predict that PROG Holdings, Inc will post 4.7 earnings per share for the current fiscal year.

PROG Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Cowen lifted their target price on PROG from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday. Jefferies Financial Group raised shares of PROG from a "hold" rating to a "buy" rating and increased their price target for the stock from $33.00 to $60.00 in a research report on Wednesday. Wall Street Zen cut shares of PROG from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 14th. Weiss Ratings upgraded shares of PROG from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, June 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $45.00 target price on shares of PROG in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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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