Russell Investments Group Ltd. raised its stake in Aaron’s, Inc. (NYSE:AAN) by 74.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 434,346 shares of the company’s stock after purchasing an additional 185,958 shares during the period. Russell Investments Group Ltd. owned 0.61% of Aaron’s worth $18,949,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of AAN. Bank of America Corp DE increased its stake in Aaron’s by 55.1% in the 1st quarter. Bank of America Corp DE now owns 178,642 shares of the company’s stock valued at $5,313,000 after buying an additional 63,483 shares during the period. 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 purchasing an additional 410 shares during the period. Bank of Montreal Can raised its stake in shares of Aaron’s by 2,253.5% in the second quarter. Bank of Montreal Can now owns 99,296 shares of the company’s stock worth $3,862,000 after purchasing an additional 95,077 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Aaron’s by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 23,662 shares of the company’s stock worth $920,000 after buying an additional 998 shares during the period. Finally, LS Investment Advisors LLC increased its holdings in Aaron’s by 34.5% during the 2nd quarter. LS Investment Advisors LLC now owns 2,659 shares of the company’s stock worth $103,000 after purchasing an additional 682 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.
Aaron’s, Inc. (NYSE AAN) opened at $37.72 on Thursday. The company has a market capitalization of $2,654.25, a P/E ratio of 15.56 and a beta of 0.23. Aaron’s, Inc. has a one year low of $26.12 and a one year high of $48.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.74 and a current ratio of 2.35.
Aaron’s (NYSE:AAN) last released its quarterly earnings results on Friday, October 27th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.11). Aaron’s had a return on equity of 11.41% and a net margin of 4.15%. The firm had revenue of $838.80 million for the quarter, compared to analyst estimates of $827.20 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. equities analysts anticipate that Aaron’s, Inc. will post 2.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Wednesday, December 13th will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.32%. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s payout ratio is currently 5.79%.
A number of brokerages have commented on AAN. Northcoast Research set a $53.00 price target on Aaron’s and gave the stock a “buy” rating in a research report on Friday, December 1st. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 target price on shares of Aaron’s in a research note on Friday, September 1st. Sidoti upgraded shares of Aaron’s from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Wednesday, November 29th. Zacks Investment Research downgraded shares of Aaron’s from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Janney Montgomery Scott began coverage on shares of Aaron’s in a report on Wednesday, October 18th. They set a “neutral” rating and a $42.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $43.30.
In other news, CFO Steven A. Michaels sold 4,000 shares of Aaron’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total transaction of $148,600.00. Following the completion of the sale, the chief financial officer now owns 56,769 shares in the company, valued at approximately $2,108,968.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John W. Robinson sold 15,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $36.24, for a total value of $543,600.00. Following the sale, the chief executive officer now owns 337,340 shares of the company’s stock, valued at approximately $12,225,201.60. The disclosure for this sale can be found here. In the last quarter, insiders acquired 1,431,000 shares of company stock worth $65,250 and sold 19,003 shares worth $692,308. 1.93% of the stock is currently owned by corporate insiders.
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Aaron’s Company Profile
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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