Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Aaron’s, Inc. (NYSE:AAN) by 28.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,932 shares of the company’s stock after purchasing an additional 1,100 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Aaron’s were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in AAN. Penserra Capital Management LLC bought a new stake in Aaron’s during the 1st quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its stake in Aaron’s by 31.0% during the 1st quarter. Global Retirement Partners LLC now owns 778 shares of the company’s stock valued at $41,000 after purchasing an additional 184 shares during the period. Rockefeller Capital Management L.P. bought a new stake in Aaron’s during the 1st quarter valued at approximately $125,000. State of Alaska Department of Revenue bought a new stake in Aaron’s during the 1st quarter valued at approximately $149,000. Finally, Piedmont Investment Advisors Inc. bought a new stake in Aaron’s during the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.
Shares of NYSE AAN traded down $1.01 during midday trading on Tuesday, hitting $63.37. The stock had a trading volume of 218,298 shares, compared to its average volume of 649,190. The company’s 50-day simple moving average is $63.57 and its 200 day simple moving average is $56.84. The firm has a market cap of $4.35 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.48. Aaron’s, Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $68.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.77 and a quick ratio of 0.63.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $0.14 annualized dividend and a yield of 0.22%. Aaron’s’s dividend payout ratio is presently 4.17%.
A number of analysts have commented on AAN shares. Stephens set a $67.00 price objective on Aaron’s and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Zacks Investment Research upgraded Aaron’s from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday. KeyCorp raised their target price on Aaron’s from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Loop Capital raised their target price on Aaron’s to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, ValuEngine downgraded Aaron’s from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Aaron’s has a consensus rating of “Buy” and a consensus price target of $69.88.
In other Aaron’s news, CEO Ryan K. Woodley sold 10,000 shares of Aaron’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $60.00, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now directly owns 84,010 shares in the company, valued at $5,040,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kelly Hefner Barrett bought 2,000 shares of Aaron’s stock in a transaction on Monday, July 29th. The shares were acquired at an average price of $63.33 per share, for a total transaction of $126,660.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 34,758 shares of company stock worth $2,111,246. Corporate insiders own 2.78% of the company’s stock.
Aaron’s Company Profile
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in three segments: Progressive Leasing, Aaron's Business, and DAMI. The company also engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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