Aaron’s, Inc. (AAN) Shares Bought by American International Group Inc.
American International Group Inc. boosted its position in Aaron’s, Inc. (NYSE:AAN) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,836 shares of the company’s stock after buying an additional 3,276 shares during the period. American International Group Inc. owned approximately 0.24% of Aaron’s worth $7,410,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of AAN. LS Investment Advisors LLC increased its holdings in Aaron’s by 34.5% during the 2nd quarter. LS Investment Advisors LLC now owns 2,659 shares of the company’s stock worth $103,000 after purchasing an additional 682 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Aaron’s by 13.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,649 shares of the company’s stock worth $103,000 after purchasing an additional 312 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in Aaron’s by 70.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,930 shares of the company’s stock worth $153,000 after purchasing an additional 1,630 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Aaron’s by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,708 shares of the company’s stock worth $183,000 after purchasing an additional 705 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Aaron’s during the 2nd quarter worth approximately $201,000. 99.92% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Steven A. Michaels sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $37.15, for a total value of $148,600.00. Following the transaction, the chief financial officer now owns 56,769 shares in the company, valued at $2,108,968.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John W. Robinson sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $36.24, for a total value of $543,600.00. Following the completion of the transaction, the chief executive officer now owns 337,340 shares in the company, valued at approximately $12,225,201.60. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,813,000 shares of company stock valued at $80,530 and sold 19,003 shares valued at $692,308. Corporate insiders own 1.93% of the company’s stock.
Aaron’s (NYSE:AAN) last released its earnings results on Friday, October 27th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.11). The business had revenue of $838.80 million during the quarter, compared to the consensus estimate of $827.20 million. Aaron’s had a net margin of 4.15% and a return on equity of 11.41%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. analysts anticipate that Aaron’s, Inc. will post 2.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Wednesday, December 13th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This is a positive change from Aaron’s’s previous quarterly dividend of $0.03. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. Aaron’s’s dividend payout ratio is currently 5.82%.
A number of analysts have commented on the company. Zacks Investment Research lowered Aaron’s from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Sidoti raised Aaron’s from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Wednesday. Loop Capital raised Aaron’s from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Wednesday, November 8th. KeyCorp raised Aaron’s from a “sector weight” rating to an “overweight” rating and set a $50.00 price objective for the company in a report on Thursday, September 28th. Finally, Northcoast Research set a $53.00 target price on Aaron’s and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $43.30.
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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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