UBS Asset Management Americas Inc. lowered its position in Aaron’s Inc. (NYSE:AAN) by 9.2% during the second quarter, Holdings Channel reports. The firm owned 48,070 shares of the company’s stock after selling 4,850 shares during the period. UBS Asset Management Americas Inc. owned about 0.07% of Aaron’s worth $1,052,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of AAN. Retirement Systems of Alabama raised its position in Aaron’s by 481.8% in the second quarter. Retirement Systems of Alabama now owns 484,821 shares of the company’s stock worth $10,613,000 after buying an additional 401,496 shares in the last quarter. Palisade Capital Management LLC NJ bought a new position in Aaron’s during the second quarter worth about $7,184,000. JPMorgan Chase & Co. raised its position in Aaron’s by 271.9% in the first quarter. JPMorgan Chase & Co. now owns 398,312 shares of the company’s stock worth $9,998,000 after buying an additional 291,209 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Aaron’s during the second quarter worth about $4,862,000. Finally, First Pacific Advisors LLC raised its position in Aaron’s by 9.7% in the second quarter. First Pacific Advisors LLC now owns 2,408,789 shares of the company’s stock worth $52,728,000 after buying an additional 212,643 shares in the last quarter. Institutional investors and hedge funds own 92.00% of the company’s stock.
Shares of Aaron’s Inc. (NYSE:AAN) opened at 22.82 on Tuesday. Aaron’s Inc. has a one year low of $20.24 and a one year high of $38.85. The firm has a 50-day moving average price of $24.69 and a 200-day moving average price of $24.48. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 12.46 and a beta of 0.23.
Aaron’s (NYSE:AAN) last issued its earnings results on Friday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. The business had revenue of $789.40 million for the quarter, compared to analyst estimates of $809.16 million. Aaron’s had a net margin of 4.15% and a return on equity of 11.01%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS. Analysts anticipate that Aaron’s Inc. will post $2.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were paid a $0.025 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.44%. Aaron’s’s dividend payout ratio (DPR) is presently 5.43%.
AAN has been the topic of a number of research reports. Zacks Investment Research lowered Aaron’s from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Jefferies Group initiated coverage on Aaron’s in a report on Thursday, October 13th. They set a “buy” rating and a $30.00 price target on the stock. Finally, TheStreet raised Aaron’s from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Aaron’s currently has an average rating of “Buy” and a consensus target price of $29.93.
In related news, Director Robert H. Yanker bought 40,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were acquired at an average price of $25.29 per share, for a total transaction of $1,011,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.12% of the stock is currently owned by insiders.
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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