Teacher Retirement System of Texas Buys 59,746 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Teacher Retirement System of Texas raised its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 135.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,978 shares of the company's stock after acquiring an additional 59,746 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.19% of Upbound Group worth $3,033,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in UPBD. First National Advisers LLC grew its position in Upbound Group by 2.6% during the fourth quarter. First National Advisers LLC now owns 66,910 shares of the company's stock valued at $1,952,000 after purchasing an additional 1,674 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Upbound Group by 524.6% during the 4th quarter. Natixis Advisors LLC now owns 64,282 shares of the company's stock valued at $1,875,000 after acquiring an additional 53,991 shares in the last quarter. Vestcor Inc acquired a new position in shares of Upbound Group in the fourth quarter worth $174,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Upbound Group during the fourth quarter worth $613,000. Finally, AlphaQuest LLC boosted its position in Upbound Group by 137.5% during the fourth quarter. AlphaQuest LLC now owns 15,871 shares of the company's stock valued at $463,000 after purchasing an additional 9,189 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company's stock.

Insider Activity at Upbound Group

In other news, Director Jeffrey J. Brown purchased 1,146 shares of the firm's stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the acquisition, the director now directly owns 86,380 shares of the company's stock, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Fahmi Karam acquired 11,500 shares of the company's stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the purchase, the chief financial officer now directly owns 164,672 shares of the company's stock, valued at $4,251,831.04. This trade represents a 7.51 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by company insiders.

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Upbound Group Stock Down 2.8 %

NASDAQ UPBD traded down $0.68 during trading on Friday, hitting $23.74. 536,205 shares of the company traded hands, compared to its average volume of 483,103. Upbound Group, Inc. has a 12 month low of $23.35 and a 12 month high of $38.72. The business has a fifty day simple moving average of $27.24 and a 200 day simple moving average of $29.55. The company has a market capitalization of $1.36 billion, a P/E ratio of 10.74 and a beta of 2.01. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.02. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. As a group, sell-side analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend is Wednesday, April 2nd. Upbound Group's dividend payout ratio is currently 70.59%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on UPBD shares. TD Cowen raised Upbound Group to a "strong-buy" rating in a research report on Friday, November 29th. Loop Capital dropped their price objective 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 investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.