Vanguard Group Inc. Increases Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Vanguard Group Inc. lifted its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,781,075 shares of the company's stock after acquiring an additional 113,212 shares during the period. Vanguard Group Inc. owned approximately 12.40% of Upbound Group worth $197,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System lifted its holdings 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 worth $2,361,000 after acquiring an additional 360 shares during the period. PNC Financial Services Group Inc. grew its stake in Upbound Group by 12.8% in 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. Illinois Municipal Retirement Fund raised its stake in shares of 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 purchasing an additional 616 shares during the period. Blue Trust Inc. increased its position in shares of Upbound Group by 45.0% during the fourth 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. Finally, Inspire Investing LLC increased its holdings in Upbound Group by 6.3% during the 4th quarter. Inspire Investing LLC now owns 13,798 shares of the company's stock worth $402,000 after acquiring an additional 818 shares during the period. 90.30% of the stock is owned by hedge funds and other institutional investors.

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Upbound Group Stock Down 2.6 %

NASDAQ UPBD traded down $0.55 during trading hours on Friday, reaching $20.96. 507,527 shares of the company's stock traded hands, compared to its average volume of 493,094. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. The firm has a 50-day simple moving average of $25.47 and a 200 day simple moving average of $28.86. Upbound Group, Inc. has a 52-week low of $20.08 and a 52-week high of $38.72. The firm has a market cap of $1.20 billion, a PE ratio of 9.48 and a beta of 1.90.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating the consensus estimate 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. Sell-side analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.44%. The ex-dividend date is Wednesday, April 2nd. Upbound Group's payout ratio is presently 70.59%.

Insider Transactions at Upbound Group

In other news, CFO Fahmi Karam purchased 11,500 shares of the company's stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $25.82 per share, for a total transaction of $296,930.00. Following the purchase, the chief financial officer now directly owns 164,672 shares in the company, valued at approximately $4,251,831.04. This represents a 7.51 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Loop Capital lowered their target price on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Two research 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's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.