Retirement Systems of Alabama boosted its holdings in shares of Aaron’s, Inc. (NYSE:AAN) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 205,011 shares of the company’s stock after purchasing an additional 11,636 shares during the quarter. Retirement Systems of Alabama owned about 0.29% of Aaron’s worth $8,945,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC increased its stake in Aaron’s by 1.9% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 11,178 shares of the company’s stock worth $245,000 after acquiring an additional 210 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Aaron’s by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 16,400 shares of the company’s stock worth $638,000 after acquiring an additional 300 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Aaron’s by 0.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 38,370 shares of the company’s stock worth $1,492,000 after acquiring an additional 307 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Aaron’s by 13.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock worth $103,000 after acquiring an additional 312 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in Aaron’s by 3.8% in the 2nd quarter. Capstone Asset Management Co. now owns 11,094 shares of the company’s stock worth $432,000 after acquiring an additional 410 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.
In related news, CEO John W. Robinson sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $36.24, for a total transaction of $543,600.00. Following the completion of the transaction, the chief executive officer now owns 337,340 shares in the company, valued at approximately $12,225,201.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven A. Michaels sold 4,000 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $37.15, for a total value of $148,600.00. Following the transaction, the chief financial officer now owns 56,769 shares of the company’s stock, valued at approximately $2,108,968.35. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,813,000 shares of company stock valued at $80,530 and have sold 19,003 shares valued at $692,308. 1.93% of the stock is owned by insiders.
Shares of Aaron’s, Inc. (AAN) traded down $1.54 during trading on Monday, hitting $37.65. The stock had a trading volume of 1,107,716 shares, compared to its average volume of 836,083. The stock has a market cap of $2,773.12, a PE ratio of 16.26 and a beta of 0.23. The company has a current ratio of 2.35, a quick ratio of 0.74 and a debt-to-equity ratio of 0.24. Aaron’s, Inc. has a 12-month low of $26.12 and a 12-month high of $48.22.
Aaron’s (NYSE:AAN) last announced its earnings results on Friday, October 27th. The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.11). The company had revenue of $838.80 million during the quarter, compared to analysts’ expectations of $827.20 million. Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. Aaron’s’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. equities analysts expect that Aaron’s, Inc. will post 2.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Wednesday, December 13th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.12 dividend on an annualized basis and a yield of 0.32%. This is a boost from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s payout ratio is presently 5.79%.
AAN has been the topic of a number of research reports. Off Wall Street initiated coverage on Aaron’s in a research note on Monday, September 18th. They issued a “sell” rating on the stock. Raymond James Financial raised Aaron’s from a “market perform” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research note on Friday, November 10th. Jefferies Group reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Aaron’s in a research note on Thursday, September 7th. Loop Capital raised Aaron’s from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, November 8th. Finally, KeyCorp raised Aaron’s from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research note on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $43.30.
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Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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