Retirement Systems of Alabama increased its stake in shares of Aaron’s Inc. (NYSE:AAN) by 481.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 484,821 shares of the company’s stock after buying an additional 401,496 shares during the period. Retirement Systems of Alabama’s holdings in Aaron’s were worth $10,613,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in AAN. JPMorgan Chase & Co. raised its stake in shares of Aaron’s by 271.9% in the first quarter. JPMorgan Chase & Co. now owns 398,312 shares of the company’s stock valued at $9,998,000 after buying an additional 291,209 shares during the last quarter. Foundry Partners LLC raised its stake in shares of Aaron’s by 771.4% in the second quarter. Foundry Partners LLC now owns 141,305 shares of the company’s stock worth $3,093,000 after buying an additional 125,090 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Aaron’s by 98.5% in the first quarter. Prudential Financial Inc. now owns 199,081 shares of the company’s stock worth $4,997,000 after buying an additional 98,800 shares during the last quarter. Trellus Management Company LLC acquired a new stake in shares of Aaron’s during the second quarter worth $1,423,000. Finally, Skyline Asset Management LP raised its stake in shares of Aaron’s by 6.4% in the first quarter. Skyline Asset Management LP now owns 1,047,900 shares of the company’s stock worth $26,302,000 after buying an additional 63,200 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.
Shares of Aaron’s Inc. (NYSE:AAN) traded up 0.80% on Wednesday, reaching $25.17. 269,109 shares of the company’s stock were exchanged. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 13.75 and a beta of 0.23. Aaron’s Inc. has a one year low of $20.24 and a one year high of $40.80. The company’s 50 day moving average is $25.01 and its 200-day moving average is $24.52.
Aaron’s (NYSE:AAN) last announced its quarterly earnings data 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. Aaron’s had a net margin of 4.15% and a return on equity of 11.01%. The business earned $789.40 million during the quarter, compared to analyst estimates of $809.16 million. During the same period last year, the firm posted $0.61 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that Aaron’s Inc. will post $2.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Wednesday, August 31st. Aaron’s’s dividend payout ratio (DPR) is presently 5.43%.
AAN has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Aaron’s from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. TheStreet upgraded shares of Aaron’s from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $29.92.
In other Aaron’s news, Director Robert H. Yanker bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was purchased at an average cost of $25.29 per share, with a total value of $1,011,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.12% of the stock is currently 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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