Invesco Ltd. Has $12.68 Million Stock Position in Upbound Group, Inc. (NASDAQ:UPBD)

Invesco Ltd. lifted its position in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 434,819 shares of the company's stock after acquiring an additional 60,934 shares during the period. Invesco Ltd. owned about 0.79% of Upbound Group worth $12,684,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its position in Upbound Group by 171.9% during the 4th quarter. Victory Capital Management Inc. now owns 267,618 shares of the company's stock worth $7,806,000 after purchasing an additional 169,197 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Upbound Group in the fourth quarter worth $4,883,000. Wellington Management Group LLP raised its position in Upbound Group by 37.9% during the fourth quarter. Wellington Management Group LLP now owns 559,120 shares of the company's stock valued at $16,310,000 after acquiring an additional 153,551 shares in the last quarter. Norges Bank bought a new position in Upbound Group during the fourth quarter valued at about $4,328,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Upbound Group during the 4th quarter worth $3,922,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

Upbound Group Stock Performance

Upbound Group stock traded down $0.17 during trading hours on Friday, hitting $20.55. The stock had a trading volume of 368,636 shares, compared to its average volume of 496,633. The company has a 50-day moving average of $23.65 and a two-hundred day moving average of $28.20. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08. The company has a market cap of $1.18 billion, a PE ratio of 9.30 and a beta of 1.90. Upbound Group, Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $38.72.

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

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.59%. Upbound Group's payout ratio is presently 70.59%.

Analyst Ratings Changes

Separately, Loop Capital lowered their target price on Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Insider Activity

In other news, CFO Fahmi Karam acquired 11,500 shares of the firm's stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $25.82 per share, with a total value of $296,930.00. Following the completion of the purchase, the chief financial officer now owns 164,672 shares of the company's stock, valued at $4,251,831.04. This represents a 7.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey J. Brown purchased 1,694 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were acquired at an average cost of $19.89 per share, with a total value of $33,693.66. Following the completion of the acquisition, the director now directly owns 88,074 shares in the company, valued at approximately $1,751,791.86. This represents a 1.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

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.