Aaron’s Holdings Company, Inc. $PRG Shares Acquired by Summit Global Investments

Summit Global Investments boosted its position in Aaron’s Holdings Company, Inc. (NYSE:PRG) by 194.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,669 shares of the company’s stock after buying an additional 24,865 shares during the quarter. Summit Global Investments owned 0.10% of Aaron’s worth $1,219,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in shares of Aaron’s during the second quarter worth about $27,000. GAMMA Investing LLC grew its stake in Aaron’s by 66.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,122 shares of the company’s stock valued at $33,000 after purchasing an additional 447 shares in the last quarter. Whittier Trust Co. increased its holdings in Aaron’s by 157.6% during the 2nd quarter. Whittier Trust Co. now owns 1,391 shares of the company’s stock worth $41,000 after purchasing an additional 851 shares during the last quarter. WealthCollab LLC raised its position in shares of Aaron’s by 61.9% in the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the company’s stock valued at $61,000 after purchasing an additional 800 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Aaron’s by 225.4% during the 2nd quarter. CWM LLC now owns 2,841 shares of the company’s stock valued at $83,000 after buying an additional 1,968 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

Aaron’s Stock Performance

Shares of PRG stock opened at $32.46 on Friday. Aaron’s Holdings Company, Inc. has a 12-month low of $23.50 and a 12-month 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 8.24 and a beta of 1.75. The business has a 50 day simple moving average of $30.72 and a 200 day simple moving average of $31.45.

Aaron’s Dividend Announcement

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

Wall Street Analysts Forecast Growth

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