Raymond James Financial Inc. Makes New $3.92 Million Investment in Upbound Group, Inc. (NASDAQ:UPBD)

Raymond James Financial Inc. bought a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 134,459 shares of the company's stock, valued at approximately $3,922,000. Raymond James Financial Inc. owned 0.25% of Upbound Group at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. R Squared Ltd acquired a new position in Upbound Group during the fourth quarter worth approximately $25,000. Blue Trust Inc. grew its stake in shares of Upbound Group by 45.0% during the 4th quarter. Blue Trust Inc. now owns 2,271 shares of the company's stock valued at $73,000 after buying an additional 705 shares during the period. Quarry LP raised its position in shares of Upbound Group by 374.3% in the 3rd quarter. Quarry LP now owns 3,282 shares of the company's stock worth $105,000 after buying an additional 2,590 shares during the period. Virtu Financial LLC acquired a new position in Upbound Group in the third quarter valued at $229,000. Finally, Blueshift Asset Management LLC acquired a new position in Upbound Group in the third quarter valued at $232,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,146 shares of Upbound Group stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average price of $29.01 per share, with a total value of $33,245.46. Following the completion of the acquisition, the director now owns 86,380 shares of the company's stock, valued at approximately $2,505,883.80. This trade represents a 1.34 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Fahmi Karam acquired 11,500 shares of the stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $25.82 per share, with a total value of $296,930.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company's stock.

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Upbound Group Stock Down 2.8 %

Shares of NASDAQ:UPBD traded down $0.68 during midday trading on Friday, hitting $23.74. 536,205 shares of the company's stock traded hands, compared to its average volume of 483,103. Upbound Group, Inc. has a twelve month low of $23.35 and a twelve month high of $38.72. The company has a market cap of $1.36 billion, a PE ratio of 10.74 and a beta of 2.01. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.86 and a current ratio of 3.66. The firm's fifty day moving average price is $27.24 and its two-hundred day moving average price is $29.55.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 35.47% and a net margin of 2.86%. On average, equities research analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.39 per share. 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 6.57%. Upbound Group's dividend payout ratio is currently 70.59%.

Analyst Ratings Changes

Separately, Loop Capital dropped their price target on 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Upbound Group 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.