JPMorgan Chase & Co. Has $5.84 Million Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

JPMorgan Chase & Co. raised its position in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 130.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,397 shares of the company's stock after purchasing an additional 103,212 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.33% of Upbound Group worth $5,835,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System grew its stake in shares of Upbound Group by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 80,578 shares of the company's stock valued at $2,578,000 after buying an additional 393 shares in the last quarter. Blue Trust Inc. grew its position in Upbound Group by 40.1% in the third quarter. Blue Trust Inc. now owns 1,566 shares of the company's stock worth $48,000 after acquiring an additional 448 shares in the last quarter. Amalgamated Bank increased its stake in shares of Upbound Group by 3.5% during the 3rd quarter. Amalgamated Bank now owns 14,491 shares of the company's stock worth $464,000 after purchasing an additional 496 shares during the last quarter. Covestor Ltd raised its holdings in shares of Upbound Group by 268.8% during the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company's stock valued at $37,000 after purchasing an additional 828 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Upbound Group by 4.4% in the 3rd quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the company's stock valued at $752,000 after purchasing an additional 1,000 shares during the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Stock Performance

Shares of NASDAQ UPBD traded up $0.04 during trading hours on Friday, hitting $29.54. 217,323 shares of the company's stock were exchanged, compared to its average volume of 450,075. The company's 50-day moving average price is $31.58 and its 200-day moving average price is $31.40. Upbound Group, Inc. has a 1-year low of $26.50 and a 1-year high of $38.72. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 20.37 and a beta of 2.05. 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 issued 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. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The company's quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share. On average, sell-side analysts expect that Upbound Group, Inc. will post 3.8 earnings per share for the current fiscal year.

Upbound Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Wednesday, December 18th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 5.28%. This is a positive change from Upbound Group's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, December 18th. Upbound Group's dividend payout ratio (DPR) is currently 107.59%.

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown bought 1,146 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average cost of $29.01 per share, with a total value of $33,245.46. Following the completion of the transaction, the director now directly owns 86,380 shares in the company, valued at $2,505,883.80. This represents a 1.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on UPBD shares. Jefferies Financial Group lowered their target price on shares of Upbound Group from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Tuesday, October 1st. Stephens began coverage on Upbound Group in a report on Wednesday, November 13th. They set an "overweight" rating and a $38.00 price objective on the stock. TD Cowen upgraded Upbound Group to a "strong-buy" rating in a report on Friday, November 29th. Finally, Loop Capital lowered their price target on Upbound Group from $36.00 to $33.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $39.17.

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.