Stephens Investment Management Group LLC boosted its position in Aaron’s, Inc. (NYSE:AAN) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 502,221 shares of the company’s stock after purchasing an additional 40,526 shares during the period. Stephens Investment Management Group LLC owned about 0.71% of Aaron’s, worth $21,912,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of Aaron’s, during the first quarter worth $688,000. Bank of America Corp DE raised its position in shares of Aaron’s, by 55.1% in the first quarter. Bank of America Corp DE now owns 178,642 shares of the company’s stock worth $5,313,000 after buying an additional 63,483 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of Aaron’s, by 3.8% in the second quarter. Capstone Asset Management Co. now owns 11,094 shares of the company’s stock worth $432,000 after buying an additional 410 shares in the last quarter. Bank of Montreal Can raised its position in shares of Aaron’s, by 2,253.5% in the second quarter. Bank of Montreal Can now owns 99,296 shares of the company’s stock worth $3,862,000 after buying an additional 95,077 shares in the last quarter. Finally, Eqis Capital Management Inc. raised its position in shares of Aaron’s, by 17.4% in the second quarter. Eqis Capital Management Inc. now owns 8,959 shares of the company’s stock worth $349,000 after buying an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.
In other news, CFO Steven A. Michaels sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total transaction of $148,600.00. Following the transaction, the chief financial officer now directly owns 56,769 shares of the company’s stock, valued at $2,108,968.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan K. Woodley sold 6,776 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $44.30, for a total value of $300,176.80. Following the transaction, the chief executive officer now directly owns 145,849 shares in the company, valued at $6,461,110.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 2,913,000 shares of company stock worth $118,730 and have sold 56,779 shares worth $2,337,985. 1.93% of the stock is currently owned by company insiders.
Aaron’s, (NYSE:AAN) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.11). Aaron’s, had a net margin of 4.15% and a return on equity of 11.41%. The company had revenue of $838.80 million for the quarter, compared to the consensus estimate of $827.20 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. research analysts expect that Aaron’s, Inc. will post 2.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Wednesday, December 13th will be paid a dividend of $0.03 per share. This is a boost from Aaron’s, ‘s previous quarterly dividend of $0.03. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Tuesday, December 12th. Aaron’s, ‘s dividend payout ratio (DPR) is 5.82%.
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AAN has been the topic of a number of recent analyst reports. Off Wall Street initiated coverage on Aaron’s, in a research report on Monday, September 18th. They issued a “sell” rating on the stock. Jefferies Group LLC reissued a “buy” rating on shares of Aaron’s, in a research note on Sunday, July 30th. Stifel Nicolaus reissued a “buy” rating and issued a $55.00 target price on shares of Aaron’s, in a research note on Friday, September 1st. Raymond James Financial, Inc. raised Aaron’s, from a “market perform” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research note on Friday, November 10th. Finally, Janney Montgomery Scott initiated coverage on Aaron’s, in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $43.06.
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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