Aaron's Holdings Company, Inc. (NYSE:PRG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in shares of Aaron's Holdings Company, Inc. (NYSE:PRG - Free Report) by 73.8% during the 1st quarter, according to its most recent 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 0.10% of Aaron's worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PRG. Summit Securities Group LLC purchased a new stake in shares of Aaron's during the 4th quarter worth approximately $38,000. Sterling Capital Management LLC boosted its stake in shares of Aaron's by 765.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after acquiring an additional 957 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Aaron's by 248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock worth $57,000 after acquiring an additional 977 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Aaron's during the 4th quarter worth approximately $68,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Aaron's during the 4th quarter worth approximately $101,000. Hedge funds and other institutional investors own 97.92% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PRG. KeyCorp decreased their price target 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. Loop Capital cut their price objective on Aaron's from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, BTIG Research downgraded 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Aaron's has a consensus rating of "Moderate Buy" and an average target price of $41.86.

Aaron's Price Performance

Shares of Aaron's stock traded up $0.51 during trading on Thursday, hitting $28.85. 722,310 shares of the company were exchanged, compared to its average volume of 478,058. The company has a quick ratio of 2.35, a current ratio of 4.98 and a debt-to-equity ratio of 0.91. Aaron's Holdings Company, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $50.28. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 5.91 and a beta of 1.76. The firm has a 50 day moving average price of $29.21 and a 200 day moving average price of $31.55.

Aaron's (NYSE:PRG - Get Free Report) last issued 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. The company had revenue of $684.09 million during 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%. Aaron's's revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 EPS. On average, equities analysts expect that Aaron's Holdings Company, Inc. will post 3.45 earnings per share for the current fiscal year.

Aaron's Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a $0.13 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.52 annualized dividend and a yield of 1.80%. Aaron's's dividend payout ratio (DPR) is presently 10.66%.

Insider Buying and Selling at Aaron's

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

About Aaron's

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.