Mitsubishi UFJ Trust & Banking Corp Sells 35,374 Shares of Aaron’s Holdings Company, Inc. $PRG

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Aaron’s Holdings Company, Inc. (NYSE:PRG) by 19.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 148,746 shares of the company’s stock after selling 35,374 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Aaron’s were worth $4,813,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PRG. Vest Financial LLC acquired a new stake in Aaron’s during the 3rd quarter valued at approximately $1,312,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Aaron’s by 503.6% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 109,597 shares of the company’s stock valued at $3,217,000 after purchasing an additional 91,439 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Aaron’s by 2.3% in the 2nd quarter. Yousif Capital Management LLC now owns 17,674 shares of the company’s stock valued at $519,000 after purchasing an additional 390 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Aaron’s by 33.6% during the second quarter. Public Employees Retirement System of Ohio now owns 42,578 shares of the company’s stock worth $1,250,000 after buying an additional 10,700 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Aaron’s by 65.2% during the third quarter. Assenagon Asset Management S.A. now owns 348,436 shares of the company’s stock worth $11,275,000 after buying an additional 137,492 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors.

Aaron’s Stock Performance

Shares of Aaron’s stock opened at $32.40 on Friday. The business has a 50-day simple moving average of $30.64 and a 200 day simple moving average of $31.43. Aaron’s Holdings Company, Inc. has a one year low of $23.50 and a one year high of $44.42. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.74 and a quick ratio of 2.65. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.22 and a beta of 1.75.

Aaron’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, November 18th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. Aaron’s’s payout ratio is currently 13.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRG shares. Wall Street Zen lowered shares of Aaron’s from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. TD Cowen cut their target price on Aaron’s from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. B. Riley assumed coverage on Aaron’s in a research note on Tuesday, December 16th. They set a “buy” rating and a $50.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Aaron’s in a report on Thursday, January 22nd. Finally, BTIG Research upgraded Aaron’s from a “sell” rating to a “neutral” rating and set a $31.00 price target on the stock in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Aaron’s has a consensus rating of “Moderate Buy” and a consensus target price of $38.83.

Aaron’s Company Profile

PROG Holdings, Inc (NYSE: PRG), 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.