Comerica Bank raised its position in Aaron’s, Inc. (NYSE:AAN) by 2.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 275,385 shares of the company’s stock after purchasing an additional 6,951 shares during the period. Comerica Bank owned about 0.41% of Aaron’s worth $14,744,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of AAN. BlackRock Inc. raised its holdings in shares of Aaron’s by 7.7% in the 4th quarter. BlackRock Inc. now owns 8,461,144 shares of the company’s stock worth $355,792,000 after purchasing an additional 604,170 shares during the period. Vanguard Group Inc. grew its stake in Aaron’s by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 6,720,319 shares of the company’s stock valued at $365,989,000 after purchasing an additional 100,211 shares in the last quarter. Vanguard Group Inc grew its stake in Aaron’s by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 6,720,319 shares of the company’s stock valued at $365,989,000 after purchasing an additional 100,211 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Aaron’s by 18.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,295,041 shares of the company’s stock valued at $54,456,000 after purchasing an additional 204,482 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Aaron’s by 18.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,202,997 shares of the company’s stock valued at $50,585,000 after purchasing an additional 190,580 shares in the last quarter. 97.81% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on the company. ValuEngine lowered Aaron’s from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Zacks Investment Research upgraded Aaron’s from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Jefferies Financial Group restated a “buy” rating and set a $65.00 price objective on shares of Aaron’s in a research note on Monday, February 18th. Raymond James restated a “buy” rating and set a $61.00 price objective on shares of Aaron’s in a research note on Sunday, February 17th. Finally, Stephens set a $57.00 price objective on Aaron’s and gave the company a “buy” rating in a research note on Friday, February 15th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $62.25.
In related news, insider Douglas A. Lindsay sold 9,798 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $50.79, for a total value of $497,640.42. Following the sale, the insider now owns 49,368 shares of the company’s stock, valued at approximately $2,507,400.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Curtis Linn Doman sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $55.66, for a total value of $556,600.00. Following the completion of the sale, the insider now directly owns 123,220 shares in the company, valued at approximately $6,858,425.20. The disclosure for this sale can be found here. In the last three months, insiders sold 167,720 shares of company stock worth $8,732,952. Company insiders own 2.78% of the company’s stock.
Shares of AAN traded down $0.70 during mid-day trading on Wednesday, hitting $54.34. The stock had a trading volume of 355,100 shares, compared to its average volume of 537,527. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.95 and a beta of 0.47. The company has a current ratio of 2.77, a quick ratio of 0.63 and a debt-to-equity ratio of 0.23. Aaron’s, Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $59.71.
Aaron’s (NYSE:AAN) last issued its earnings results on Thursday, April 25th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.93 by $0.15. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $991.09 million. Aaron’s had a return on equity of 14.31% and a net margin of 5.15%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. On average, sell-side analysts predict that Aaron’s, Inc. will post 3.8 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Tuesday, June 18th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Monday, June 17th. Aaron’s’s dividend payout ratio (DPR) is 4.17%.
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Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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