Rhumbline Advisers raised its holdings in Aaron’s, Inc. (NYSE:AAN) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,159 shares of the company’s stock after purchasing an additional 5,080 shares during the period. Rhumbline Advisers owned about 0.19% of Aaron’s worth $7,143,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Amalgamated Bank raised its holdings in shares of Aaron’s by 13.5% during the second quarter. Amalgamated Bank now owns 10,222 shares of the company’s stock worth $444,000 after acquiring an additional 1,218 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in shares of Aaron’s during the second quarter worth $334,000. Janney Montgomery Scott LLC raised its holdings in shares of Aaron’s by 14.4% during the second quarter. Janney Montgomery Scott LLC now owns 28,648 shares of the company’s stock worth $1,245,000 after acquiring an additional 3,616 shares during the period. Aperio Group LLC raised its holdings in shares of Aaron’s by 16.1% during the second quarter. Aperio Group LLC now owns 265,023 shares of the company’s stock worth $11,515,000 after acquiring an additional 36,766 shares during the period. Finally, TD Asset Management Inc. raised its holdings in shares of Aaron’s by 353.7% during the second quarter. TD Asset Management Inc. now owns 28,349 shares of the company’s stock worth $1,232,000 after acquiring an additional 22,100 shares during the period.
Aaron’s stock opened at $46.80 on Monday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 18.28 and a beta of 0.25. Aaron’s, Inc. has a 1-year low of $35.62 and a 1-year high of $56.00. The company has a quick ratio of 0.55, a current ratio of 2.43 and a debt-to-equity ratio of 0.17.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Thursday, December 20th will be given a $0.035 dividend. The ex-dividend date is Wednesday, December 19th. This represents a $0.14 dividend on an annualized basis and a yield of 0.30%. This is an increase from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s dividend payout ratio (DPR) is 4.69%.
AAN has been the topic of a number of research analyst reports. ValuEngine lowered shares of Aaron’s from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Zacks Investment Research raised shares of Aaron’s from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Wednesday, September 26th. Stifel Nicolaus raised their target price on shares of Aaron’s from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Raymond James reaffirmed a “buy” rating and issued a $57.00 target price on shares of Aaron’s in a research report on Sunday, August 12th. Finally, Northcoast Research downgraded shares of Aaron’s from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Aaron’s has a consensus rating of “Buy” and a consensus target price of $57.88.
In other news, insider Curtis Linn Doman sold 5,000 shares of Aaron’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the insider now owns 62,523 shares of the company’s stock, valued at approximately $3,126,150. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan K. Woodley sold 12,500 shares of Aaron’s stock in a transaction dated 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. In the last ninety days, insiders sold 17,904 shares of company stock valued at $836,008. 2.28% of the stock is owned by insiders.
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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.
Further Reading: Dollar Cost Averaging
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