JPMorgan Chase & Co. increased its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 29.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,570 shares of the company's stock after buying an additional 53,173 shares during the period. JPMorgan Chase & Co. owned 0.43% of Upbound Group worth $6,872,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System lifted its position in Upbound Group by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 80,938 shares of the company's stock valued at $2,361,000 after buying an additional 360 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Upbound Group by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock worth $110,000 after acquiring an additional 429 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in Upbound Group by 2.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 26,498 shares of the company's stock valued at $773,000 after acquiring an additional 616 shares during the period. Blue Trust Inc. boosted its position in shares of Upbound Group by 45.0% in the 4th quarter. Blue Trust Inc. now owns 2,271 shares of the company's stock worth $73,000 after purchasing an additional 705 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in Upbound Group by 6.3% during the fourth quarter. Inspire Investing LLC now owns 13,798 shares of the company's stock valued at $402,000 after buying an additional 818 shares during the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.
Upbound Group Stock Performance
NASDAQ:UPBD traded up $0.55 during mid-day trading on Tuesday, reaching $20.54. The company's stock had a trading volume of 473,490 shares, compared to its average volume of 496,439. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. The stock has a market cap of $1.18 billion, a P/E ratio of 9.29 and a beta of 1.90. The firm's fifty day moving average price is $24.19 and its two-hundred day moving average price is $28.38. Upbound Group, Inc. has a 12-month low of $19.69 and a 12-month 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 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.06 billion. On average, equities analysts forecast that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.
Upbound Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.59%. Upbound Group's dividend payout ratio (DPR) is currently 70.59%.
Insider Buying and Selling at Upbound Group
In other Upbound Group news, CFO Fahmi Karam acquired 11,500 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $25.82 per share, with a total value of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares in the company, valued at $4,251,831.04. This represents a 7.51 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.70% of the company's stock.
Analysts Set New Price Targets
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 analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.
Check Out Our Latest Stock Analysis on Upbound Group
About Upbound Group
(
Free Report)
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.
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