Robeco Institutional Asset Management B.V. Cuts Stock Holdings in Aaron's Holdings Company, Inc. (NYSE:PRG)

Robeco Institutional Asset Management B.V. lessened its holdings in Aaron's Holdings Company, Inc. (NYSE:PRG - Free Report) by 28.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,494 shares of the company's stock after selling 8,542 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.05% of Aaron's worth $572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Aaron's by 2.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company's stock valued at $980,000 after acquiring an additional 446 shares during the last quarter. LPL Financial LLC grew its position in shares of Aaron's by 2.4% in 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 during the last quarter. Comerica Bank raised its stake in Aaron's by 1.2% during the 4th quarter. Comerica Bank now owns 39,029 shares of the company's stock worth $1,649,000 after acquiring an additional 473 shares in the last quarter. State of Wyoming increased its position in shares of Aaron's by 10.9% during the fourth quarter. State of Wyoming now owns 5,694 shares of the company's stock worth $241,000 after purchasing an additional 560 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Aaron's by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock valued at $51,000 after purchasing an additional 707 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Aaron's Stock Performance

Shares of Aaron's stock traded down $0.03 during trading hours on Friday, hitting $30.52. 125,458 shares of the company were exchanged, compared to its average volume of 478,662. The company has a current ratio of 4.98, a quick ratio of 2.35 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average of $28.73 and a 200-day moving average of $32.34. Aaron's Holdings Company, Inc. has a 1 year low of $23.50 and a 1 year high of $50.28. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 6.25 and a beta of 1.76.

Aaron's (NYSE:PRG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.82 by $0.08. Aaron's had a return on equity of 23.11% and a net margin of 8.38%. The business had revenue of $684.09 million during the quarter, compared to analysts' expectations of $678.23 million. During the same period last year, the firm earned $0.91 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts expect that Aaron's Holdings Company, Inc. will post 3.45 EPS for the current fiscal year.

Aaron's Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, May 20th. Aaron's's dividend payout ratio is currently 10.66%.

Analysts Set New Price Targets

Several research firms have commented on PRG. KeyCorp cut their price target on Aaron's from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Loop Capital cut their target price 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. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $44.83.

Insider Transactions at Aaron's

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

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.