Aaron’s Holdings Company, Inc. (NYSE:PRG – Get Free Report) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Tuesday, November 18th will be paid a dividend of 0.13 per share on Tuesday, December 2nd. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 18th.
Aaron’s has raised its dividend payment by an average of 0.3%per year over the last three years and has increased its dividend every year for the last 2 years. Aaron’s has a payout ratio of 14.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Aaron’s to earn $4.13 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 12.6%.
Aaron’s Stock Down 1.2%
PRG stock traded down $0.34 during trading on Friday, reaching $27.41. The stock had a trading volume of 64,032 shares, compared to its average volume of 471,907. The company has a current ratio of 4.74, a quick ratio of 2.65 and a debt-to-equity ratio of 0.85. The firm has a fifty day moving average price of $32.67 and a 200 day moving average price of $30.81. The company has a market capitalization of $1.08 billion, a P/E ratio of 6.94 and a beta of 1.77. Aaron’s has a 1-year low of $23.50 and a 1-year high of $49.90.
Institutional Investors Weigh In On Aaron’s
Hedge funds have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC grew its position in shares of Aaron’s by 2.3% during the second quarter. Yousif Capital Management LLC now owns 17,674 shares of the company’s stock worth $519,000 after acquiring an additional 390 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Aaron’s by 13.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,411 shares of the company’s stock worth $91,000 after purchasing an additional 413 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Aaron’s by 4.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,360 shares of the company’s stock valued at $304,000 after purchasing an additional 418 shares during the period. GAMMA Investing LLC raised its holdings in shares of Aaron’s by 66.2% during the second quarter. GAMMA Investing LLC now owns 1,122 shares of the company’s stock valued at $33,000 after buying an additional 447 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Aaron’s by 2.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 23,395 shares of the company’s stock worth $687,000 after buying an additional 567 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors.
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.
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