Schwab Charles Investment Management Inc. trimmed its position in Aaron’s, Inc. (NYSE:AAN) by 6.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 480,970 shares of the company’s stock after selling 35,017 shares during the period. Schwab Charles Investment Management Inc. owned about 0.68% of Aaron’s, worth $18,710,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Great West Life Assurance Co. Can grew its position in Aaron’s, by 0.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 38,370 shares of the company’s stock worth $1,492,000 after purchasing an additional 307 shares in the last quarter. Bowling Portfolio Management LLC grew its position in Aaron’s, by 83.3% in the 2nd quarter. Bowling Portfolio Management LLC now owns 47,724 shares of the company’s stock worth $1,856,000 after purchasing an additional 21,682 shares in the last quarter. Balasa Dinverno & Foltz LLC grew its position in Aaron’s, by 13.2% in the 2nd quarter. Balasa Dinverno & Foltz LLC now owns 26,216 shares of the company’s stock worth $1,020,000 after purchasing an additional 3,052 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Aaron’s, in the 2nd quarter worth about $344,000. Finally, ING Groep NV bought a new stake in Aaron’s, in the 2nd quarter worth about $298,000. 99.83% of the stock is owned by institutional investors and hedge funds.
Aaron’s, Inc. (AAN) opened at 39.22 on Thursday. The company has a market capitalization of $2.77 billion, a P/E ratio of 20.15 and a beta of 0.18. The stock’s 50 day moving average is $43.85 and its 200-day moving average is $37.21. Aaron’s, Inc. has a 52-week low of $22.37 and a 52-week high of $48.22.
Aaron’s, (NYSE:AAN) last announced its quarterly earnings results on Friday, July 28th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The firm had revenue of $815.60 million during the quarter, compared to analyst estimates of $786.12 million. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts predict that Aaron’s, Inc. will post $2.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.027 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.28%. Aaron’s, ‘s dividend payout ratio is presently 5.64%.
A number of brokerages have issued reports on AAN. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Aaron’s, in a research report on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.00 price objective (up from $40.00) on shares of Aaron’s, in a research report on Sunday, July 30th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Aaron’s, in a research report on Sunday, July 30th. Northcoast Research reaffirmed a “buy” rating and issued a $52.50 price objective (up from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. Finally, Off Wall Street began coverage on shares of Aaron’s, in a research report on Monday. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Aaron’s, presently has an average rating of “Buy” and an average price target of $44.21.
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In other news, CEO Ryan K. Woodley sold 6,776 shares of Aaron’s, stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $44.30, for a total value of $300,176.80. Following the completion of the sale, the chief executive officer now directly owns 145,849 shares in the company, valued at $6,461,110.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Curtis Linn Doman sold 30,000 shares of Aaron’s, stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $43.35, for a total transaction of $1,300,500.00. Following the completion of the sale, the insider now owns 101,775 shares of the company’s stock, valued at $4,411,946.25. The disclosure for this sale can be found here. Insiders sold 61,776 shares of company stock valued at $2,742,507 over the last quarter. Company insiders own 1.93% of the company’s stock.
Aaron’s, Company Profile
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.
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