Aaron’s, Inc. (AAN) Stake Raised by Icon Advisers Inc. Co.

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Icon Advisers Inc. Co. grew its position in Aaron’s, Inc. (NYSE:AAN) by 32.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,900 shares of the company’s stock after acquiring an additional 6,600 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Aaron’s were worth $1,465,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Portolan Capital Management LLC raised its stake in shares of Aaron’s by 48.4% in the second quarter. Portolan Capital Management LLC now owns 780,451 shares of the company’s stock valued at $33,911,000 after acquiring an additional 254,589 shares during the period. WBI Investments Inc. purchased a new stake in shares of Aaron’s in the second quarter valued at $4,562,000. Wells Fargo & Company MN raised its stake in shares of Aaron’s by 117.4% in the second quarter. Wells Fargo & Company MN now owns 850,585 shares of the company’s stock valued at $36,959,000 after acquiring an additional 459,401 shares during the period. Stephens Investment Management Group LLC raised its stake in shares of Aaron’s by 10.9% in the second quarter. Stephens Investment Management Group LLC now owns 1,333,166 shares of the company’s stock valued at $58,393,000 after acquiring an additional 131,115 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in shares of Aaron’s in the second quarter valued at $293,000.

AAN stock opened at $50.63 on Friday. The stock has a market capitalization of $3.46 billion, a P/E ratio of 19.78 and a beta of 0.25. Aaron’s, Inc. has a 12 month low of $35.16 and a 12 month high of $56.00. The company has a current ratio of 2.43, a quick ratio of 0.55 and a debt-to-equity ratio of 0.17.

Aaron’s (NYSE:AAN) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.06). The company had revenue of $953.07 million during the quarter, compared to analysts’ expectations of $948.48 million. Aaron’s had a return on equity of 12.22% and a net margin of 8.39%. On average, equities research analysts expect that Aaron’s, Inc. will post 3.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Thursday, December 20th will be given a dividend of $0.035 per share. This is an increase from Aaron’s’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, December 19th. This represents a $0.14 dividend on an annualized basis and a yield of 0.28%. Aaron’s’s dividend payout ratio (DPR) is 4.69%.

Several equities research analysts have recently weighed in on AAN shares. Zacks Investment Research downgraded shares of Aaron’s from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. KeyCorp raised their price target on shares of Aaron’s from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, September 20th. ValuEngine raised shares of Aaron’s from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Northcoast Research downgraded shares of Aaron’s from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 9th. Finally, Loop Capital raised their price target on shares of Aaron’s to $59.00 and gave the stock a “buy” rating in a research note on Friday, September 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Aaron’s presently has a consensus rating of “Buy” and a consensus price target of $56.10.

In other Aaron’s news, insider Curtis Linn Doman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,750,000.00. Following the transaction, the insider now owns 67,523 shares of the company’s stock, valued at approximately $3,376,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ray M. Robinson sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $49.19, for a total transaction of $147,570.00. Following the transaction, the director now directly owns 26,936 shares in the company, valued at approximately $1,324,981.84. The disclosure for this sale can be found here. Insiders have sold a total of 55,904 shares of company stock worth $2,733,578 in the last three months. Insiders own 2.28% of the company’s stock.

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About Aaron’s

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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Institutional Ownership by Quarter for Aaron`s (NYSE:AAN)

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