Bragg Financial Advisors Inc Acquires 50,133 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Bragg Financial Advisors Inc grew its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 406,171 shares of the company's stock after acquiring an additional 50,133 shares during the period. Bragg Financial Advisors Inc owned about 0.74% of Upbound Group worth $11,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of UPBD. Vanguard Group Inc. grew its holdings in Upbound Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company's stock valued at $197,804,000 after purchasing an additional 113,212 shares during the period. State Street Corp increased its holdings in Upbound Group by 2.2% in the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company's stock worth $64,883,000 after acquiring an additional 43,814 shares in the last quarter. Geode Capital Management LLC raised its stake in Upbound Group by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company's stock worth $38,968,000 after acquiring an additional 54,427 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Upbound Group by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 974,186 shares of the company's stock worth $28,417,000 after acquiring an additional 60,139 shares during the period. Finally, Huber Capital Management LLC lifted its holdings in Upbound Group by 2.2% during the fourth quarter. Huber Capital Management LLC now owns 856,147 shares of the company's stock valued at $24,974,000 after purchasing an additional 18,343 shares in the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, CFO Fahmi Karam acquired 11,500 shares of Upbound Group stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $25.82 per share, with a total value of $296,930.00. Following the purchase, the chief financial officer now directly owns 164,672 shares in the company, valued at $4,251,831.04. The trade was a 7.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Loop Capital reduced their price objective on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Upbound Group Price Performance

UPBD stock traded down $0.64 during midday trading on Tuesday, hitting $20.48. The company's stock had a trading volume of 540,888 shares, compared to its average volume of 494,764. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08. Upbound Group, Inc. has a 12 month low of $20.08 and a 12 month high of $38.72. The company has a 50 day moving average of $25.11 and a two-hundred day moving average of $28.70. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.27 and a beta of 1.90.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. On average, analysts expect that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.56 annualized dividend and a dividend yield of 7.62%. Upbound Group's dividend payout ratio (DPR) is 70.59%.

About Upbound Group

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.