Federated Investors Inc. PA lessened its stake in Aaron’s, Inc. (NYSE:AAN) by 76.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,071 shares of the company’s stock after selling 134,202 shares during the quarter. Federated Investors Inc. PA owned about 0.06% of Aaron’s, worth $1,598,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in Aaron’s, in the first quarter valued at about $688,000. Great West Life Assurance Co. Can raised its stake in Aaron’s, by 0.8% in the second quarter. Great West Life Assurance Co. Can now owns 38,370 shares of the company’s stock valued at $1,492,000 after purchasing an additional 307 shares in the last quarter. United Services Automobile Association acquired a new position in Aaron’s, in the first quarter valued at about $493,000. Vanguard Group Inc. raised its stake in Aaron’s, by 6.1% in the first quarter. Vanguard Group Inc. now owns 6,298,343 shares of the company’s stock valued at $187,313,000 after purchasing an additional 361,856 shares in the last quarter. Finally, Hancock Holding Co. raised its stake in Aaron’s, by 18.9% in the first quarter. Hancock Holding Co. now owns 314,600 shares of the company’s stock valued at $9,356,000 after purchasing an additional 50,000 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.
Aaron’s, Inc. (NYSE AAN) opened at 42.67 on Wednesday. The firm’s 50-day moving average price is $43.99 and its 200 day moving average price is $36.60. The firm has a market cap of $3.02 billion, a P/E ratio of 21.93 and a beta of 0.18. Aaron’s, Inc. has a 52 week low of $22.37 and a 52 week high of $48.22.
Aaron’s, (NYSE:AAN) last released its quarterly earnings results on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.10. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The firm had revenue of $815.60 million for the quarter, compared to analysts’ expectations of $786.12 million. During the same quarter last year, the firm posted $0.59 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Aaron’s, Inc. will post $2.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.027 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.11 annualized dividend and a dividend yield of 0.25%. Aaron’s, ‘s payout ratio is currently 5.64%.
A number of research analysts recently commented on AAN shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $54.00 price target on shares of Aaron’s, in a research note on Thursday, September 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price target on shares of Aaron’s, in a research note on Friday, September 1st. Northcoast Research reissued a “buy” rating and set a $52.50 target price (up previously from $45.00) on shares of Aaron’s, in a research note on Monday, July 31st. SunTrust Banks, Inc. reissued a “buy” rating on shares of Aaron’s, in a research note on Monday, July 31st. Finally, BidaskClub downgraded Aaron’s, from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $44.21.
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In other Aaron’s, news, insider Robert P. Sinclair, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the sale, the insider now owns 11,469 shares of the company’s stock, valued at approximately $516,105. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven A. Michaels sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $46.26, for a total value of $231,300.00. Following the completion of the sale, the chief financial officer now directly owns 61,095 shares in the company, valued at approximately $2,826,254.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,776 shares of company stock worth $2,742,507. Insiders own 1.93% of the company’s stock.
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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