Aaron’s Holdings Company, Inc. $PRG Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in Aaron’s Holdings Company, Inc. (NYSE:PRG) by 22.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 244,679 shares of the company’s stock after buying an additional 44,604 shares during the period. Principal Financial Group Inc.’s holdings in Aaron’s were worth $7,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PRG. Whittier Trust Co. boosted its stake in Aaron’s by 157.6% in the second quarter. Whittier Trust Co. now owns 1,391 shares of the company’s stock valued at $41,000 after acquiring an additional 851 shares in the last quarter. WealthCollab LLC boosted its position in shares of Aaron’s by 61.9% in the 2nd quarter. WealthCollab LLC now owns 2,092 shares of the company’s stock valued at $61,000 after purchasing an additional 800 shares during the period. CWM LLC grew its stake in Aaron’s by 225.4% during the 2nd quarter. CWM LLC now owns 2,841 shares of the company’s stock worth $83,000 after buying an additional 1,968 shares during the last quarter. Stephens Inc. AR acquired a new position in Aaron’s during the third quarter worth approximately $208,000. Finally, Cim Investment Management Inc. purchased a new stake in Aaron’s in the second quarter valued at approximately $191,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Aaron’s Stock Up 0.1%

Shares of NYSE:PRG opened at $33.36 on Friday. Aaron’s Holdings Company, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $43.97. The company has a quick ratio of 2.65, a current ratio of 4.74 and a debt-to-equity ratio of 0.85. The firm’s 50-day simple moving average is $31.65 and its 200-day simple moving average is $31.71. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 8.47 and a beta of 1.73.

Wall Street Analyst Weigh In

PRG has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Aaron’s in a research report on Thursday, January 22nd. B. Riley Financial assumed coverage on shares of Aaron’s in a research note on Tuesday, December 16th. They issued a “buy” rating and a $50.00 price objective on the stock. BTIG Research upgraded shares of Aaron’s from a “sell” rating to a “neutral” rating and set a $31.00 target price for the company in a research note on Friday, November 21st. TD Cowen lowered their price target on Aaron’s from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Wall Street Zen downgraded Aaron’s from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.83.

Aaron’s Company Profile

PROG Holdings, Inc (NYSE: PRG), formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.