Key Points
- Insider selling: Michael Todd King sold 1,070 PROG shares at an average price of $46, generating $49,220. He retained 60,825 shares after the transaction.
- Strong quarterly results: PROG reported earnings of $1.19 per share, beating estimates of $0.95, while revenue of $719.72 million also exceeded expectations.
- Dividend and outlook: The company declared a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 payout and roughly a 1.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $49.44.
PROG Holdings, Inc (NYSE:PRG - Get Free Report) insider Michael Todd King sold 930 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $46.00, for a total value of $42,780.00. Following the completion of the sale, the insider directly owned 61,895 shares of the company's stock, valued at approximately $2,847,170. This represents a 1.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Michael Todd King also recently made the following trade(s):
- On Wednesday, August 5th, Michael Todd King sold 1,070 shares of PROG stock. The stock was sold at an average price of $46.00, for a total value of $49,220.00.
PROG Stock Performance
PRG opened at $43.42 on Friday. The company has a market cap of $1.74 billion, a P/E ratio of 11.99 and a beta of 1.79. The company has a quick ratio of 2.29, a current ratio of 4.03 and a debt-to-equity ratio of 1.10. The firm's 50-day moving average price is $41.94 and its 200-day moving average price is $35.84. PROG Holdings, Inc has a 52-week low of $25.80 and a 52-week high of $47.73.
PROG (NYSE:PRG - Get Free Report) last released its earnings results on Wednesday, July 29th. The fintech holding company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.24. PROG had a net margin of 5.57% and a return on equity of 21.88%. The company had revenue of $719.72 million for the quarter, compared to the consensus estimate 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. As a group, equities analysts anticipate that PROG Holdings, Inc will post 4.95 EPS for the current fiscal year.
PROG Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 18th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 18th. PROG's dividend payout ratio (DPR) is presently 15.47%.
Key PROG News
Here are the key news stories impacting PROG this week:
- Positive Sentiment: PROG Holdings declared a quarterly cash dividend of $0.14 per share, payable September 3, 2026, to shareholders of record on August 18. The dividend implies an annualized payout of approximately $0.56 per share and a yield of about 1.2%, providing continued income support for investors. PROG Holdings, Inc. Declares Dividend
- Neutral Sentiment: The dividend’s ex-dividend date is August 18. Investors purchasing shares on or after that date will not receive the upcoming distribution, which may contribute to short-term trading volatility but does not affect the company’s operating outlook. PROG Holdings Declares Quarterly Cash Dividend to Shareholders
- Negative Sentiment: PROG Holdings insiders disclosed sales totaling 4,000 shares worth approximately $183,060. Chief Accounting Officer George M. Sewell sold 2,000 shares, reducing his direct holdings by 6.58%, while insider Michael Todd King sold 2,000 shares across August 4–5, reducing his position by a combined 3.21%. Both executives continue to hold substantial stakes, so the transactions appear relatively modest and may reflect personal portfolio decisions rather than a fundamental warning. PROG Holdings SEC Insider Filing
Wall Street Analysts Forecast Growth
PRG has been the subject of several recent research reports. Zacks Research raised shares of PROG from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Jefferies Financial Group raised shares of PROG from a "hold" rating to a "buy" rating and upped their price target for the company from $33.00 to $60.00 in a report on Wednesday, July 8th. Raymond James Financial reaffirmed an "outperform" rating and set a $45.00 price target on shares of PROG in a research report on Thursday, April 30th. Wall Street Zen upgraded PROG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Finally, Loop Capital cut PROG from a "buy" rating to a "hold" rating and set a $48.00 price objective for the company. in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, PROG presently has a consensus rating of "Moderate Buy" and an average price target of $49.44.
Check Out Our Latest Stock Report on PRG
Institutional Trading of PROG
A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of PROG by 82.8% in the 4th quarter. Quarry LP now owns 1,117 shares of the fintech holding company's stock valued at $33,000 after purchasing an additional 506 shares in the last quarter. Global Assets Advisory LLC purchased a new position in PROG during the first quarter worth approximately $38,000. Federation des caisses Desjardins du Quebec acquired a new stake in PROG in the fourth quarter valued at approximately $44,000. WealthCollab LLC increased its position in shares of PROG by 61.9% in the second 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, Strs Ohio purchased a new stake in shares of PROG in the first quarter valued at approximately $129,000. 97.92% of the stock is owned by hedge funds and other institutional investors.
PROG Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
