The Aaron’s Inc. (AAN) Stake Decreased by BlackRock Institutional Trust Company N.A.

The Aaron’s Inc. (AAN) Stake Decreased by BlackRock Institutional Trust Company N.A.

BlackRock Institutional Trust Company N.A. lowered its stake in Aaron’s Inc. (NYSE:AAN) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,502,340 shares of the company’s stock after selling 20,244 shares during the period. BlackRock Institutional Trust Company N.A. owned about 3.45% of Aaron’s worth $63,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AAN. Virginia Retirement Systems ET AL purchased a new stake in shares of Aaron’s during the second quarter valued at about $1,202,000. Vanguard Group Inc. increased its stake in shares of Aaron’s by 4.8% in the second quarter. Vanguard Group Inc. now owns 5,674,697 shares of the company’s stock valued at $124,219,000 after buying an additional 258,460 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Aaron’s by 10.2% in the second quarter. Principal Financial Group Inc. now owns 245,745 shares of the company’s stock valued at $5,380,000 after buying an additional 22,749 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Aaron’s by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,128 shares of the company’s stock valued at $200,000 after buying an additional 1,108 shares during the last quarter. Finally, Aspiriant LLC increased its stake in shares of Aaron’s by 33.5% in the second quarter. Aspiriant LLC now owns 27,223 shares of the company’s stock valued at $986,000 after buying an additional 6,830 shares during the last quarter. 94.42% of the stock is owned by institutional investors.

Aaron’s Inc. (NYSE:AAN) opened at 32.31 on Thursday. The company’s 50 day moving average price is $32.00 and its 200-day moving average price is $26.57. Aaron’s Inc. has a one year low of $20.26 and a one year high of $34.22. The company has a market cap of $2.31 billion, a P/E ratio of 16.91 and a beta of 0.27.

Aaron’s (NYSE:AAN) last released its quarterly earnings results on Friday, October 28th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The business earned $769 million during the quarter, compared to analysts’ expectations of $778.73 million. Aaron’s had a return on equity of 11.36% and a net margin of 4.31%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. On average, analysts forecast that Aaron’s Inc. will post $2.26 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th were issued a dividend of $0.0275 per share. This represents a $0.11 annualized dividend and a yield of 0.34%. The ex-dividend date was Thursday, December 8th. This is a boost from Aaron’s’s previous quarterly dividend of $0.03. Aaron’s’s dividend payout ratio (DPR) is currently 5.76%.

Several analysts have weighed in on AAN shares. Zacks Investment Research downgraded Aaron’s from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Jefferies Group started coverage on Aaron’s in a research report on Thursday, October 13th. They issued a “buy” rating and a $30.00 price objective for the company. TheStreet downgraded Aaron’s from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Sidoti downgraded Aaron’s from a “buy” rating to a “neutral” rating in a research report on Friday, December 9th. Finally, Loop Capital started coverage on Aaron’s in a research report on Tuesday, December 13th. They issued a “hold” rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.50.

About Aaron’s

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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