Aigen Investment Management LP Buys Shares of 17,312 Aaron's Holdings Company, Inc. (NYSE:PRG)

Key Points

• Aigen Investment Management LP has acquired a new position in Aaron's Holdings Company, purchasing 17,312 shares valued at approximately $460,000.
• Recent analyst ratings for Aaron's show a mix of ratings, with a downgrade from Wall Street Zen from "buy" to "hold" and a target price reduction by Loop Capital from $45 to $40.
• Aaron's has announced a quarterly dividend of $0.13 per share, with a scheduled payment date of September 4th, representing an annualized yield of 1.6%.

Aigen Investment Management LP purchased a new position in shares of Aaron's Holdings Company, Inc. (NYSE:PRG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 17,312 shares of the company's stock, valued at approximately $460,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Aaron's by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 5,005,577 shares of the company's stock worth $133,148,000 after acquiring an additional 68,369 shares during the last quarter. FMR LLC boosted its stake in Aaron's by 5.5% during the fourth quarter. FMR LLC now owns 2,564,441 shares of the company's stock worth $108,373,000 after acquiring an additional 134,123 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Aaron's by 16.3% in the first quarter. Allianz Asset Management GmbH now owns 907,100 shares of the company's stock worth $24,129,000 after buying an additional 127,384 shares in the last quarter. Vulcan Value Partners LLC raised its holdings in shares of Aaron's by 84.3% during the first quarter. Vulcan Value Partners LLC now owns 681,746 shares of the company's stock valued at $18,134,000 after purchasing an additional 311,917 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Aaron's by 7.0% during the fourth quarter. Northern Trust Corp now owns 517,984 shares of the company's stock valued at $21,890,000 after purchasing an additional 33,991 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company's stock.

Aaron's Stock Performance

NYSE PRG traded down $0.30 during mid-day trading on Friday, reaching $33.38. 400,869 shares of the stock were exchanged, compared to its average volume of 454,937. The business's 50 day moving average is $30.37 and its 200-day moving average is $30.03. Aaron's Holdings Company, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28. The company has a market capitalization of $1.32 billion, a P/E ratio of 6.60 and a beta of 1.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.82 and a current ratio of 5.71.

Aaron's (NYSE:PRG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.23. The firm had revenue of $604.66 million during the quarter, compared to analysts' expectations of $586.25 million. Aaron's had a net margin of 8.53% and a return on equity of 22.54%. Aaron's's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.92 earnings per share. On average, equities research analysts forecast that Aaron's Holdings Company, Inc. will post 3.45 EPS for the current fiscal year.

Aaron's Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Tuesday, August 19th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. Aaron's's dividend payout ratio (DPR) is presently 10.28%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PRG shares. Wall Street Zen cut shares of Aaron's from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. KeyCorp lowered their price objective on shares of Aaron's from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. BTIG Research lowered shares of Aaron's from a "neutral" rating to a "sell" rating and set a $24.00 price objective for the company. in a research report on Monday, July 14th. Finally, Loop Capital lowered their target price on shares of Aaron's from $45.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Aaron's presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Aaron's Profile

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.