Principal Financial Group Inc. Purchases 5,315 Shares of Aaron’s Holdings Company, Inc. (NYSE:PRG)

Principal Financial Group Inc. raised its holdings in shares of Aaron’s Holdings Company, Inc. (NYSE:PRGFree Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,959 shares of the company’s stock after acquiring an additional 5,315 shares during the quarter. Principal Financial Group Inc. owned approximately 0.51% of Aaron’s worth $5,505,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Aaron’s by 2.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company’s stock valued at $980,000 after purchasing an additional 446 shares during the period. LPL Financial LLC grew its holdings in Aaron’s by 2.4% during the 4th quarter. LPL Financial LLC now owns 19,719 shares of the company’s stock valued at $833,000 after buying an additional 458 shares in the last quarter. Comerica Bank raised its position in shares of Aaron’s by 1.2% during the fourth quarter. Comerica Bank now owns 39,029 shares of the company’s stock valued at $1,649,000 after buying an additional 473 shares during the last quarter. State of Wyoming lifted its holdings in shares of Aaron’s by 10.9% in the fourth quarter. State of Wyoming now owns 5,694 shares of the company’s stock worth $241,000 after buying an additional 560 shares in the last quarter. Finally, Diversified Trust Co boosted its position in shares of Aaron’s by 7.2% during the first quarter. Diversified Trust Co now owns 8,647 shares of the company’s stock worth $230,000 after acquiring an additional 583 shares during the last quarter. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Aaron’s news, CFO Brian Garner bought 3,500 shares of Aaron’s stock in a transaction that occurred on Tuesday, May 13th. The shares were bought at an average cost of $28.93 per share, with a total value of $101,255.00. Following the transaction, the chief financial officer directly owned 132,597 shares of the company’s stock, valued at approximately $3,836,031.21. This represents a 2.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven A. Michaels bought 14,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $29.03 per share, with a total value of $406,420.00. Following the completion of the purchase, the chief executive officer directly owned 559,641 shares in the company, valued at $16,246,378.23. This represents a 2.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Loop Capital reduced their price target on shares of Aaron’s from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. BTIG Research cut Aaron’s from a “neutral” rating to a “sell” rating and set a $24.00 target price on the stock. in a report on Monday. Finally, KeyCorp dropped their price target on Aaron’s from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.86.

Get Our Latest Stock Analysis on PRG

Aaron’s Trading Up 0.3%

PRG opened at $28.28 on Thursday. The stock’s 50 day moving average price is $29.19 and its 200-day moving average price is $31.64. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 5.79 and a beta of 1.76. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.35 and a current ratio of 4.98. Aaron’s Holdings Company, Inc. has a one year low of $23.50 and a one year high of $50.28.

Aaron’s (NYSE:PRGGet Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.08. Aaron’s had a net margin of 8.38% and a return on equity of 23.11%. The firm had revenue of $684.09 million during the quarter, compared to the consensus estimate of $678.23 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Aaron’s Holdings Company, Inc. will post 3.45 EPS for the current year.

Aaron’s Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Tuesday, May 20th. Aaron’s’s dividend payout ratio (DPR) is 10.66%.

About Aaron’s

(Free Report)

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.

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Institutional Ownership by Quarter for Aaron's (NYSE:PRG)

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