Brandywine Global Investment Management LLC bought a new position in shares of Aaron's, Inc. (NYSE:AAN) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 253,504 shares of the company’s stock, valued at approximately $10,102,000. Brandywine Global Investment Management LLC owned about 0.36% of Aaron's as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Nationwide Fund Advisors raised its holdings in shares of Aaron's by 32.9% during the 3rd quarter. Nationwide Fund Advisors now owns 204,188 shares of the company’s stock worth $8,909,000 after acquiring an additional 50,561 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Aaron's during the 3rd quarter worth $521,000. Canada Pension Plan Investment Board purchased a new position in shares of Aaron's during the 3rd quarter worth $1,348,000. American Century Companies Inc. raised its holdings in shares of Aaron's by 206.0% during the 3rd quarter. American Century Companies Inc. now owns 434,161 shares of the company’s stock worth $18,942,000 after acquiring an additional 292,286 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of Aaron's by 6.0% during the 3rd quarter. Retirement Systems of Alabama now owns 205,011 shares of the company’s stock worth $8,945,000 after acquiring an additional 11,636 shares during the period.
Shares of Aaron's, Inc. (NYSE AAN) opened at $48.35 on Wednesday. The stock has a market cap of $3,420.00, a PE ratio of 22.38 and a beta of 0.07. Aaron's, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.73 and a quick ratio of 0.80.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 23rd will be issued a $0.03 dividend. The ex-dividend date 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 currently 5.56%.
Aaron's announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
AAN has been the topic of several analyst reports. Stephens reiterated a “buy” rating and set a $61.00 price target on shares of Aaron's in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Aaron's from a “sell” rating to a “hold” rating in a report on Thursday, December 28th. Northcoast Research set a $53.00 price target on Aaron's and gave the stock a “buy” rating in a report on Friday, December 1st. 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 report on Wednesday, January 24th. Finally, SunTrust Banks reiterated a “buy” rating on shares of Aaron's in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Aaron's currently has a consensus rating of “Buy” and an average price target of $46.36.
In other Aaron's news, insider Robert P. Sinclair, Jr. sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $46.00, for a total transaction of $46,000.00. Following the sale, the insider now directly owns 10,021 shares in the company, valued at $460,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. Yanker sold 40,195 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $47.69, for a total transaction of $1,916,899.55. Following the sale, the director now owns 8,038 shares in the company, valued at $383,332.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,647 shares of company stock worth $2,033,048. 1.93% of the stock is owned by insiders.
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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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