ClariVest Asset Management LLC lowered its holdings in Aaron’s, Inc. (NYSE:AAN) by 1.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 113,700 shares of the company’s stock after selling 1,600 shares during the quarter. ClariVest Asset Management LLC owned about 0.16% of Aaron’s worth $5,298,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MetLife Investment Advisors LLC purchased a new position in shares of Aaron’s in the 4th quarter valued at about $2,752,000. Teacher Retirement System of Texas boosted its position in shares of Aaron’s by 315.5% in the 4th quarter. Teacher Retirement System of Texas now owns 21,744 shares of the company’s stock valued at $866,000 after purchasing an additional 16,511 shares during the period. Strs Ohio boosted its position in shares of Aaron’s by 4.8% in the 4th quarter. Strs Ohio now owns 34,600 shares of the company’s stock valued at $1,378,000 after purchasing an additional 1,600 shares during the period. Teachers Advisors LLC boosted its position in shares of Aaron’s by 20.1% in the 4th quarter. Teachers Advisors LLC now owns 464,851 shares of the company’s stock valued at $18,524,000 after purchasing an additional 77,871 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Aaron’s by 36.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,274 shares of the company’s stock valued at $370,000 after purchasing an additional 2,479 shares during the period.
In other Aaron’s news, insider Robert P. Sinclair, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $48.00, for a total transaction of $48,000.00. Following the completion of the sale, the insider now directly owns 13,163 shares of the company’s stock, valued at approximately $631,824. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. Yanker sold 40,195 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 8,038 shares of the company’s stock, valued at $383,332.22. The disclosure for this sale can be found here. Insiders have sold a total of 82,147 shares of company stock valued at $3,706,833 over the last ninety days. 2.28% of the stock is owned by insiders.
Aaron’s opened at $41.00 on Friday, Marketbeat reports. Aaron’s, Inc. has a twelve month low of $40.26 and a twelve month high of $40.99. The company has a quick ratio of 0.86, a current ratio of 2.74 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 15.79 and a beta of 0.07.
Aaron’s (NYSE:AAN) last posted its quarterly earnings data on Thursday, April 26th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.14). Aaron’s had a return on equity of 11.22% and a net margin of 8.34%. The company had revenue of $954.81 million for the quarter, compared to analyst estimates of $926.74 million. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. research analysts forecast that Aaron’s, Inc. will post 3.35 EPS for the current year.
Aaron’s announced that its board has authorized a share repurchase program on Thursday, February 15th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 6th. Shareholders of record on Tuesday, June 19th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, June 18th. This represents a $0.12 dividend on an annualized basis and a yield of 0.29%. Aaron’s’s payout ratio is 4.69%.
AAN has been the subject of a number of research analyst reports. Zacks Investment Research cut Aaron’s from a “hold” rating to a “sell” rating in a research report on Tuesday, April 24th. Loop Capital raised Aaron’s from a “hold” rating to a “buy” rating in a research report on Monday, April 30th. SunTrust Banks reissued a “buy” rating on shares of Aaron’s in a research report on Friday, February 16th. ValuEngine raised Aaron’s from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, KeyCorp upped their target price on Aaron’s from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $46.36.
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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