Arizona State Retirement System grew its holdings in Aaron's, Inc. (NYSE:AAN) by 27.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,821 shares of the company’s stock after purchasing an additional 9,563 shares during the period. Arizona State Retirement System owned about 0.06% of Aaron's worth $1,786,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in AAN. Stephens Investment Management Group LLC increased its stake in Aaron's by 114.1% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,075,022 shares of the company’s stock worth $42,840,000 after purchasing an additional 572,801 shares during the period. Dividend Assets Capital LLC increased its stake in Aaron's by 191.7% in the fourth quarter. Dividend Assets Capital LLC now owns 625,665 shares of the company’s stock worth $24,932,000 after purchasing an additional 411,162 shares during the period. American Century Companies Inc. increased its stake in Aaron's by 206.0% in the third quarter. American Century Companies Inc. now owns 434,161 shares of the company’s stock worth $18,942,000 after purchasing an additional 292,286 shares during the period. Russell Investments Group Ltd. increased its stake in Aaron's by 74.9% in the third quarter. Russell Investments Group Ltd. now owns 434,346 shares of the company’s stock worth $18,949,000 after purchasing an additional 185,958 shares during the period. Finally, Comerica Bank increased its stake in Aaron's by 93.3% in the third quarter. Comerica Bank now owns 231,894 shares of the company’s stock worth $8,596,000 after purchasing an additional 111,954 shares during the period.
In other Aaron's news, Director Robert H. Yanker sold 40,195 shares of Aaron's stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $47.69, for a total value of $1,916,899.55. Following the transaction, the director now owns 8,038 shares in the company, valued at $383,332.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert P. Sinclair, Jr. sold 1,000 shares of Aaron's stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $48.00, for a total value of $48,000.00. Following the completion of the transaction, the insider now owns 13,163 shares in the company, valued at approximately $631,824. The disclosure for this sale can be found here. Insiders sold 42,647 shares of company stock worth $2,033,048 in the last quarter. 1.93% of the stock is owned by insiders.
Aaron's (NYSE:AAN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.55 by $0.10. The firm had revenue of $884.60 million for the quarter, compared to analyst estimates of $871.07 million. Aaron's had a return on equity of 11.64% and a net margin of 8.65%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. analysts forecast that Aaron's, Inc. will post 3.41 EPS for the current year.
Aaron's declared that its board has initiated a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 23rd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $0.12 annualized dividend and a yield of 0.25%. Aaron's’s dividend payout ratio (DPR) is presently 5.56%.
A number of research firms have weighed in on AAN. SunTrust Banks reiterated a “buy” rating on shares of Aaron's in a research note on Friday, February 16th. KeyCorp increased their target price on Aaron's from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Piper Jaffray Companies raised their price target on Aaron's from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, February 15th. ValuEngine upgraded Aaron's from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Loop Capital lowered Aaron's from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $46.36.
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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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