Parametric Portfolio Associates LLC boosted its stake in shares of Aaron’s, Inc. (NYSE:AAN) by 17.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 261,970 shares of the company’s stock after purchasing an additional 39,698 shares during the period. Parametric Portfolio Associates LLC owned about 0.37% of Aaron’s, worth $10,191,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LS Investment Advisors LLC lifted its position in Aaron’s, by 34.5% during the second quarter. LS Investment Advisors LLC now owns 2,659 shares of the company’s stock valued at $103,000 after purchasing an additional 682 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Aaron’s, by 13.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock valued at $103,000 after purchasing an additional 312 shares in the last quarter. Victory Capital Management Inc. lifted its position in Aaron’s, by 24.1% during the first quarter. Victory Capital Management Inc. now owns 4,003 shares of the company’s stock valued at $119,000 after purchasing an additional 778 shares in the last quarter. Riverhead Capital Management LLC lifted its position in Aaron’s, by 70.9% during the second quarter. Riverhead Capital Management LLC now owns 3,930 shares of the company’s stock valued at $153,000 after purchasing an additional 1,630 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Aaron’s, during the second quarter valued at $201,000.
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AAN has been the topic of several analyst reports. Off Wall Street initiated coverage on Aaron’s, in a research report on Monday, September 18th. They set a “sell” rating on the stock. BidaskClub cut Aaron’s, from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. Jefferies Group LLC reissued a “buy” rating and set a $54.00 price target on shares of Aaron’s, in a report on Thursday, September 7th. KeyCorp raised Aaron’s, from a “sector weight” rating to an “overweight” rating and set a $50.00 price target on the stock in a report on Thursday, September 28th. Finally, SunTrust Banks, Inc. reissued a “buy” rating on shares of Aaron’s, in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.36.
Shares of Aaron’s, Inc. (AAN) opened at 42.46 on Friday. The company has a market capitalization of $3.00 billion, a PE ratio of 21.82 and a beta of 0.21. Aaron’s, Inc. has a 12-month low of $22.37 and a 12-month high of $48.22. The firm’s 50-day moving average price is $42.55 and its 200-day moving average price is $38.76.
Aaron’s, (NYSE:AAN) last posted its earnings results on Friday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The business had revenue of $815.60 million for the quarter, compared to analyst estimates of $786.12 million. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts expect that Aaron’s, Inc. will post $2.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a dividend of $0.027 per share. This represents a $0.11 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Thursday, September 14th. Aaron’s, ‘s payout ratio is currently 5.64%.
In other news, CEO Ryan K. Woodley sold 6,776 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $44.30, for a total transaction of $300,176.80. Following the sale, the chief executive officer now directly owns 145,849 shares of the company’s stock, valued at approximately $6,461,110.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Curtis Linn Doman sold 30,000 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $43.35, for a total transaction of $1,300,500.00. Following the sale, the insider now directly owns 101,775 shares in the company, valued at $4,411,946.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,776 shares of company stock worth $2,742,507. Corporate 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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