Teacher Retirement System of Texas Cuts Stake in Aaron's Holdings Company, Inc. (NYSE:PRG)

Teacher Retirement System of Texas lessened its position in shares of Aaron's Holdings Company, Inc. (NYSE:PRG - Free Report) by 73.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,900 shares of the company's stock after selling 117,846 shares during the quarter. Teacher Retirement System of Texas owned about 0.10% of Aaron's worth $1,115,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 purchasing an additional 446 shares during the last quarter. LPL Financial LLC grew its stake in shares of Aaron's by 2.4% during the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company's stock worth $833,000 after acquiring an additional 458 shares during the last quarter. Comerica Bank lifted its holdings in shares of Aaron's by 1.2% during the fourth quarter. Comerica Bank now owns 39,029 shares of the company's stock worth $1,649,000 after purchasing an additional 473 shares during the period. State of Wyoming lifted its holdings 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 during the period. Finally, Diversified Trust Co lifted its holdings in Aaron's by 7.2% in the first quarter. Diversified Trust Co now owns 8,647 shares of the company's stock valued at $230,000 after acquiring an additional 583 shares during the period. Hedge funds and other institutional investors own 97.92% of the company's stock.

Aaron's Trading Down 2.0%

PRG opened at $29.96 on Monday. Aaron's Holdings Company, Inc. has a one year low of $23.50 and a one year high of $50.28. The company has a market cap of $1.21 billion, a P/E ratio of 6.14 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. The business's 50-day simple moving average is $29.09 and its 200-day simple moving average is $31.78.

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

Aaron's Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were paid a $0.13 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.52 annualized dividend and a dividend yield of 1.74%. Aaron's's dividend payout ratio (DPR) is currently 10.66%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRG. Loop Capital reduced their target price on Aaron's from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. KeyCorp decreased their target price on Aaron's from $50.00 to $45.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Aaron's presently has an average rating of "Buy" and a consensus target price of $44.83.

Insider Activity at Aaron's

In other Aaron's news, CEO Steven A. Michaels purchased 14,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $29.03 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Garner purchased 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was acquired at an average price of $28.93 per share, for a total transaction of $101,255.00. Following the completion of the purchase, the chief financial officer owned 132,597 shares of the company's stock, valued at approximately $3,836,031.21. This represents a 2.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.

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