Geode Capital Management LLC Has $38.97 Million Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Geode Capital Management LLC lifted its holdings in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,217,880 shares of the company's stock after purchasing an additional 54,427 shares during the quarter. Geode Capital Management LLC owned 2.23% of Upbound Group worth $38,968,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System raised its position in shares of Upbound Group by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company's stock worth $691,000 after buying an additional 500 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Upbound Group by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 761,765 shares of the company's stock worth $23,386,000 after purchasing an additional 15,219 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Upbound Group by 33.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,674 shares of the company's stock valued at $328,000 after purchasing an additional 2,664 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Upbound Group during the 2nd quarter valued at $737,000. Finally, Victory Capital Management Inc. raised its stake in shares of Upbound Group by 8.9% in the 2nd quarter. Victory Capital Management Inc. now owns 38,895 shares of the company's stock worth $1,194,000 after buying an additional 3,178 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Loop Capital lowered their target price on Upbound Group from $36.00 to $33.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Stephens assumed coverage on Upbound Group in a report on Wednesday, November 13th. They issued an "overweight" rating and a $38.00 price target on the stock. 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, TD Cowen raised Upbound Group to a "strong-buy" rating in a report on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Upbound Group presently has an average rating of "Moderate Buy" and a consensus price target of $39.17.

Insider Activity at Upbound Group

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

Upbound Group Stock Up 0.2 %

UPBD traded up $0.07 on Wednesday, reaching $29.85. 140,234 shares of the company traded hands, compared to its average volume of 448,753. Upbound Group, Inc. has a 52-week low of $26.50 and a 52-week high of $38.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.66 and a quick ratio of 0.86. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 20.59 and a beta of 2.03. The stock's 50 day moving average price is $31.64 and its 200-day moving average price is $31.66.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. Upbound Group's revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. On average, sell-side analysts expect that Upbound Group, Inc. will post 3.8 EPS for the current fiscal year.

Upbound Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 5.23%. This is a positive change from Upbound Group's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, December 18th. Upbound Group's payout ratio is currently 107.59%.

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.