Nordea Investment Management AB Raises Holdings in Aaron’s, Inc. (AAN)

Nordea Investment Management AB grew its stake in Aaron’s, Inc. (NYSE:AAN) by 104.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,500 shares of the company’s stock after purchasing an additional 59,500 shares during the quarter. Nordea Investment Management AB owned about 0.16% of Aaron’s worth $5,083,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAN. LS Investment Advisors LLC raised its holdings in Aaron’s by 34.5% in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Aaron’s by 13.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock worth $103,000 after purchasing an additional 312 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in Aaron’s by 70.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,930 shares of the company’s stock worth $153,000 after purchasing an additional 1,630 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Aaron’s by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,708 shares of the company’s stock worth $183,000 after purchasing an additional 705 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Aaron’s in the 2nd quarter worth $201,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

In related news, CEO John W. Robinson sold 15,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total transaction of $543,600.00. Following the sale, the chief executive officer now directly owns 337,340 shares of the company’s stock, valued at approximately $12,225,201.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven A. Michaels sold 4,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $37.15, for a total transaction of $148,600.00. Following the sale, the chief financial officer now directly owns 56,769 shares in the company, valued at $2,108,968.35. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,813,000 shares of company stock worth $80,530 and have sold 19,003 shares worth $692,308. Corporate insiders own 1.93% of the company’s stock.

Several brokerages recently issued reports on AAN. Jefferies Group reiterated a “buy” rating and issued a $54.00 price target on shares of Aaron’s in a research note on Thursday, August 31st. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 price target on shares of Aaron’s in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Aaron’s from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Off Wall Street began coverage on shares of Aaron’s in a research note on Monday, September 18th. They issued a “sell” rating for the company. Finally, Janney Montgomery Scott began coverage on shares of Aaron’s in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $42.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.30.

Shares of Aaron’s, Inc. (NYSE:AAN) opened at $39.19 on Friday. Aaron’s, Inc. has a 1 year low of $26.12 and a 1 year high of $48.22. The company has a market cap of $2,773.12, a PE ratio of 16.26 and a beta of 0.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.74 and a current ratio of 2.35.

Aaron’s (NYSE:AAN) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $838.80 million for the quarter, compared to analysts’ expectations of $827.20 million. During the same period last year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. equities analysts predict that Aaron’s, Inc. will post 2.47 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Wednesday, December 13th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.31%. This is an increase from Aaron’s’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 12th. Aaron’s’s dividend payout ratio is 5.79%.

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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.

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

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