JPMorgan Chase & Co. reduced its stake in Aaron’s Inc. (NYSE:AAN) by 50.1% during the second quarter, Holdings Channel reports. The institutional investor owned 198,927 shares of the company’s stock after selling 199,385 shares during the period. JPMorgan Chase & Co. owned about 0.27% of Aaron’s worth $4,354,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Suntrust Banks Inc. increased its position in shares of Aaron’s by 4.2% in the second quarter. Suntrust Banks Inc. now owns 10,675 shares of the company’s stock valued at $233,000 after buying an additional 433 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in shares of Aaron’s during the first quarter valued at $253,000. Parametrica Management Ltd acquired a new position in shares of Aaron’s during the second quarter valued at $256,000. Princeton Alpha Management LP purchased a new position in Aaron’s during the second quarter valued at approximately $279,000. Finally, Quantbot Technologies LP purchased a new position in Aaron’s during the second quarter valued at approximately $310,000. Institutional investors and hedge funds own 91.99% of the company’s stock.
Shares of Aaron’s Inc. (NYSE:AAN) traded down 0.04% during mid-day trading on Friday, hitting $22.76. The company’s stock had a trading volume of 438,770 shares. The stock has a 50-day moving average of $24.75 and a 200-day moving average of $24.50. Aaron’s Inc. has a 12-month low of $20.24 and a 12-month high of $38.85. The company has a market cap of $1.66 billion, a PE ratio of 12.43 and a beta of 0.23.
Aaron’s (NYSE:AAN) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. Aaron’s had a return on equity of 11.01% and a net margin of 4.15%. The firm had revenue of $789.40 million for the quarter, compared to the consensus estimate of $809.16 million. During the same period in the previous year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Aaron’s Inc. will post $2.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors 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%.
Several research analysts recently commented on the company. Jefferies Group assumed coverage on Aaron’s in a research note on Thursday. They issued a “buy” rating and a $30.00 price objective for the company. Zacks Investment Research raised Aaron’s from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Finally, TheStreet raised Aaron’s from a “hold” rating to a “buy” rating in a research note on Thursday, September 1st. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $29.93.
In other Aaron’s news, Director Robert H. Yanker purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were purchased at an average cost of $25.29 per share, for a total transaction of $1,011,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.12% of the stock is owned by corporate 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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