Aaron’s, Inc. (AAN) Shares Bought by Federated Investors Inc. PA
Federated Investors Inc. PA lifted its stake in shares of Aaron’s, Inc. (NYSE:AAN) by 98.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,748 shares of the company’s stock after buying an additional 23,691 shares during the period. Federated Investors Inc. PA owned about 0.07% of Aaron’s worth $2,075,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in shares of Aaron’s by 117.4% during the second quarter. Wells Fargo & Company MN now owns 850,585 shares of the company’s stock worth $36,959,000 after buying an additional 459,401 shares in the last quarter. WBI Investments Inc. acquired a new position in shares of Aaron’s during the second quarter worth $4,562,000. Signaturefd LLC acquired a new position in shares of Aaron’s during the first quarter worth $103,000. Strs Ohio increased its holdings in shares of Aaron’s by 14.6% during the second quarter. Strs Ohio now owns 35,400 shares of the company’s stock worth $1,538,000 after buying an additional 4,500 shares in the last quarter. Finally, Hsbc Holdings PLC increased its holdings in shares of Aaron’s by 253.3% during the first quarter. Hsbc Holdings PLC now owns 74,148 shares of the company’s stock worth $3,456,000 after buying an additional 53,159 shares in the last quarter.
Shares of Aaron’s stock opened at $51.43 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 0.70 and a debt-to-equity ratio of 0.16. Aaron’s, Inc. has a twelve month low of $34.29 and a twelve month high of $52.70. The firm has a market capitalization of $3.61 billion, a P/E ratio of 19.13 and a beta of 0.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Thursday, September 20th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, September 19th. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. Aaron’s’s dividend payout ratio is 4.69%.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Aaron’s from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Tuesday, July 31st. Stifel Nicolaus upped their price target on shares of Aaron’s from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, July 27th. ValuEngine upgraded shares of Aaron’s from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Raymond James reiterated a “buy” rating and set a $57.00 price target on shares of Aaron’s in a report on Sunday, August 12th. Finally, Northcoast Research reiterated a “buy” rating on shares of Aaron’s in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $50.73.
In related news, EVP Robert W. Kamerschen sold 2,000 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $48.02, for a total value of $96,040.00. Following the sale, the executive vice president now owns 36,329 shares of the company’s stock, valued at $1,744,518.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John W. Robinson sold 2,500 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $45.00, for a total transaction of $112,500.00. Following the sale, the chief executive officer now directly owns 365,715 shares in the company, valued at approximately $16,457,175. The disclosure for this sale can be found here. In the last three months, insiders sold 55,404 shares of company stock worth $2,664,743. 2.28% of the stock is currently owned by insiders.
Aaron's, Inc operates as an omnichannel provider of lease-purchase solutions. It operates through three segments: Progressive Leasing, Aaron's Business, and DAMI. The company engages in the sale, lease ownership, and specialty retailing of furniture, consumer electronics, home appliances, and accessories.
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