Mitsubishi UFJ Trust & Banking Corp Acquires 16,366 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Mitsubishi UFJ Trust & Banking Corp increased its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,771 shares of the company's stock after purchasing an additional 16,366 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.22% of Upbound Group worth $3,435,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. R Squared Ltd purchased a new stake in Upbound Group during the fourth quarter valued at about $25,000. Blue Trust Inc. increased its position 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 purchasing an additional 705 shares during the last quarter. Quarry LP raised its holdings in shares of Upbound Group by 374.3% during the 3rd quarter. Quarry LP now owns 3,282 shares of the company's stock valued at $105,000 after buying an additional 2,590 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Upbound Group by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock valued at $110,000 after buying an additional 429 shares in the last quarter. Finally, Vestcor Inc bought a new stake in Upbound Group in the 4th quarter worth approximately $174,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

Upbound Group Trading Up 0.3 %

UPBD stock traded up $0.07 during trading on Friday, hitting $21.98. 695,743 shares of the company traded hands, compared to its average volume of 487,018. 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 company has a 50-day moving average of $26.60 and a 200-day moving average of $29.30. The firm has a market capitalization of $1.26 billion, a PE ratio of 9.95 and a beta of 2.01. Upbound Group, Inc. has a 1 year low of $20.45 and a 1 year high of $38.72.

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Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.06 billion. Analysts predict that Upbound Group, Inc. will post 4.28 earnings per share 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. This represents a $1.56 annualized dividend and a dividend yield of 7.10%. The ex-dividend date of this dividend is Wednesday, April 2nd. Upbound Group's dividend payout ratio (DPR) is 70.59%.

Insider Transactions at Upbound Group

In other Upbound Group news, CFO Fahmi Karam purchased 11,500 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $25.82 per share, with a total value 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. The trade was a 7.51 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey J. Brown purchased 1,146 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was bought at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the acquisition, the director now owns 86,380 shares of the company's stock, valued at $2,505,883.80. This represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Loop Capital reduced their price target on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $37.00.

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.