Citigroup Inc. Increases Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Citigroup Inc. grew its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 26.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,042 shares of the company's stock after acquiring an additional 24,983 shares during the quarter. Citigroup Inc. owned about 0.22% of Upbound Group worth $3,776,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in shares of Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company's stock worth $34,000 after buying an additional 362 shares during the period. Covestor Ltd increased its holdings in shares of Upbound Group by 268.8% in the third quarter. Covestor Ltd now owns 1,136 shares of the company's stock valued at $37,000 after purchasing an additional 828 shares during the period. Meeder Asset Management Inc. acquired a new stake in Upbound Group during the second quarter worth about $42,000. Ashton Thomas Private Wealth LLC acquired a new stake in Upbound Group during the second quarter worth about $89,000. Finally, SG Americas Securities LLC acquired a new stake in Upbound Group in the third quarter valued at approximately $142,000. 90.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Loop Capital dropped their price objective on Upbound Group from $36.00 to $33.00 and set a "hold" rating for the company in a research note on Friday, November 1st. TD Cowen raised Upbound Group to a "strong-buy" rating in a report on Friday, November 29th. Jefferies Financial Group reduced their price objective on Upbound Group from $37.00 to $35.00 and set a "hold" rating for the company in a research note on Tuesday, October 1st. Finally, Stephens assumed coverage on Upbound Group in a research report on Wednesday, November 13th. They set an "overweight" rating and a $38.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $39.17.

Insider Activity at Upbound Group

In other news, Director Jeffrey J. Brown purchased 1,065 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average cost of $29.25 per share, with a total value of $31,151.25. Following the completion of the transaction, the director now owns 85,234 shares in the company, valued at $2,493,094.50. This represents a 1.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

Upbound Group Stock Down 0.4 %

UPBD stock traded down $0.15 during midday trading on Wednesday, hitting $34.09. The company's stock had a trading volume of 325,672 shares, compared to its average volume of 448,017. The stock has a market capitalization of $1.86 billion, a P/E ratio of 23.61 and a beta of 2.03. Upbound Group, Inc. has a twelve month low of $26.50 and a twelve month high of $38.72. The company's fifty day moving average price is $30.98 and its 200 day moving average price is $31.64. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.66 and a quick ratio of 0.86.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the previous year, the company earned $0.79 EPS. The business's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts predict that Upbound Group, Inc. will post 3.79 EPS for the current year.

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group's dividend payout ratio (DPR) is currently 102.07%.

Upbound Group Company Profile

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.