State Board of Administration of Florida Retirement System Boosts Stake in Aaron’s, Inc. (AAN)

State Board of Administration of Florida Retirement System raised its stake in shares of Aaron’s, Inc. (NYSE:AAN) by 20.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 55,823 shares of the company’s stock after purchasing an additional 9,343 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.08% of Aaron’s, worth $2,172,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. LS Investment Advisors LLC increased its holdings in shares of Aaron’s, by 34.5% during the 2nd quarter. LS Investment Advisors LLC now owns 2,659 shares of the company’s stock worth $103,000 after purchasing an additional 682 shares during the period. Meadow Creek Investment Management LLC increased its holdings in shares of Aaron’s, by 5.0% during the 1st quarter. Meadow Creek Investment Management LLC now owns 3,556 shares of the company’s stock worth $106,000 after purchasing an additional 168 shares during the period. Victory Capital Management Inc. boosted its position in shares of Aaron’s, by 24.1% during the 1st quarter. Victory Capital Management Inc. now owns 4,003 shares of the company’s stock valued at $119,000 after acquiring an additional 778 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Aaron’s, by 29.5% during the 1st quarter. Bank of Montreal Can now owns 4,219 shares of the company’s stock valued at $126,000 after acquiring an additional 961 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Aaron’s, by 5.0% during the 1st quarter. Glen Harbor Capital Management LLC now owns 4,318 shares of the company’s stock valued at $128,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 99.83% of the company’s stock.

Aaron’s, Inc. (AAN) opened at 41.75 on Tuesday. Aaron’s, Inc. has a 52-week low of $22.37 and a 52-week high of $48.22. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 21.45 and a beta of 0.18. The firm has a 50-day moving average of $44.06 and a 200-day moving average of $36.56.

Aaron’s, (NYSE:AAN) last released its earnings results on Friday, July 28th. The company reported $0.68 EPS for the quarter, beating 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 firm had revenue of $815.60 million for the quarter, compared to analyst estimates of $786.12 million. During the same period last year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Aaron’s, Inc. will post $2.56 EPS for the current fiscal year.

The company also recently announced 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. This represents a $0.11 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, September 14th. Aaron’s, ‘s dividend payout ratio is currently 5.64%.

Several analysts have recently weighed in on AAN shares. Jefferies Group LLC reiterated a “buy” rating on shares of Aaron’s, in a research report on Sunday, July 30th. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 target price on shares of Aaron’s, in a research report on Friday, September 1st. BidaskClub lowered shares of Aaron’s, from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. Northcoast Research reiterated a “buy” rating and set a $52.50 target price (up from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. Finally, SunTrust Banks, Inc. reiterated a “buy” rating on shares of Aaron’s, in a research report on Monday, July 31st. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Aaron’s, presently has a consensus rating of “Buy” and a consensus price target of $44.21.

In other Aaron’s, news, insider Curtis Linn Doman sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $43.35, for a total value of $1,300,500.00. Following the transaction, the insider now directly owns 101,775 shares of the company’s stock, valued at approximately $4,411,946.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $231,300.00. Following the completion of the transaction, the chief financial officer now directly owns 61,095 shares in the company, valued at $2,826,254.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,776 shares of company stock worth $2,742,507. Insiders own 1.93% of the company’s stock.

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About Aaron’s,

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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Institutional Ownership by Quarter for Aaron`s,  (NYSE:AAN)

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