American International Group Inc. increased its holdings in shares of Aaron’s, Inc. (NYSE:AAN) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,310 shares of the company’s stock after buying an additional 15,996 shares during the period. American International Group Inc. owned about 0.27% of Aaron’s worth $10,092,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Engineers Gate Manager LP acquired a new position in shares of Aaron’s in the 3rd quarter worth approximately $202,000. Itau Unibanco Holding S.A. acquired a new position in shares of Aaron’s in the 2nd quarter worth approximately $170,000. Parametrica Management Ltd acquired a new position in shares of Aaron’s in the 3rd quarter worth approximately $267,000. Private Advisor Group LLC acquired a new position in shares of Aaron’s in the 2nd quarter worth approximately $293,000. Finally, First Hawaiian Bank acquired a new position in shares of Aaron’s in the 3rd quarter worth approximately $395,000. Institutional investors and hedge funds own 99.95% of the company’s stock.
A number of research analysts have recently issued reports on AAN shares. ValuEngine upgraded shares of Aaron’s from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Raymond James restated a “buy” rating and issued a $57.00 price target on shares of Aaron’s in a research report on Sunday, August 12th. KeyCorp boosted their price target on shares of Aaron’s from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, September 20th. Loop Capital boosted their price target on shares of Aaron’s to $59.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Finally, Stifel Nicolaus boosted their price target on shares of Aaron’s from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Aaron’s presently has an average rating of “Buy” and a consensus price target of $57.33.
NYSE:AAN opened at $47.53 on Friday. The firm has a market capitalization of $3.23 billion, a PE ratio of 18.57 and a beta of 0.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.43 and a quick ratio of 0.55. Aaron’s, Inc. has a twelve month low of $35.62 and a twelve month high of $56.00.
Aaron’s (NYSE:AAN) last released its quarterly earnings data on Thursday, October 25th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.06). The company had revenue of $953.07 million during the quarter, compared to the consensus estimate of $948.48 million. Aaron’s had a net margin of 8.39% and a return on equity of 12.22%. Analysts forecast that Aaron’s, Inc. will post 3.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Thursday, December 20th will be paid a $0.035 dividend. The ex-dividend date is Wednesday, December 19th. This represents a $0.14 annualized dividend and a dividend yield of 0.29%. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s payout ratio is currently 4.69%.
In other Aaron’s news, insider Curtis Linn Doman sold 5,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider now owns 62,523 shares in the company, valued at approximately $3,126,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan K. Woodley sold 12,500 shares of the business’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $45.20, for a total transaction of $565,000.00. The disclosure for this sale can be found here. Insiders sold a total of 17,904 shares of company stock valued at $836,008 in the last quarter. 2.28% of the stock is currently owned by company insiders.
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Aaron’s Company Profile
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions. It operates through three segments: Progressive Leasing, Aaron's Business, and DAMI. The company engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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