Upbound Group, Inc. (NASDAQ:UPBD) Position Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its position in Upbound Group, Inc. (NASDAQ:UPBD) by 135.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,978 shares of the company’s stock after purchasing an additional 59,746 shares during the period. Teacher Retirement System of Texas owned 0.19% of Upbound Group worth $3,033,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Upbound Group in the 4th quarter worth approximately $25,000. Blue Trust Inc. lifted its stake in Upbound Group by 45.0% during the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company’s stock worth $73,000 after purchasing an additional 705 shares during the last quarter. Quarry LP boosted its holdings in Upbound Group by 374.3% in the third quarter. Quarry LP now owns 3,282 shares of the company’s stock worth $105,000 after purchasing an additional 2,590 shares during the period. PNC Financial Services Group Inc. increased its stake in Upbound Group by 12.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock valued at $110,000 after purchasing an additional 429 shares during the last quarter. Finally, Vestcor Inc acquired a new stake in shares of Upbound Group during the fourth quarter worth $174,000. 90.30% of the stock is owned by institutional investors.

Upbound Group Stock Down 2.2 %

UPBD stock opened at $24.80 on Wednesday. The stock has a market cap of $1.42 billion, a PE ratio of 11.22 and a beta of 2.01. The firm’s 50-day simple moving average is $27.54 and its 200 day simple moving average is $29.67. Upbound Group, Inc. has a fifty-two week low of $23.35 and a fifty-two week high of $38.72. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08.

Upbound Group (NASDAQ:UPBD) last announced its quarterly 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. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. As a group, sell-side analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 6.29%. Upbound Group’s dividend payout ratio (DPR) is presently 70.59%.

Analyst Ratings Changes

Several research firms have recently commented on UPBD. TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Loop Capital decreased their target price 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 investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Upbound Group currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown bought 1,146 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 directly owns 86,380 shares in the company, valued at approximately $2,505,883.80. This trade represents a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Fahmi Karam purchased 11,500 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $25.82 per share, with a total value of $296,930.00. Following the completion of 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 position. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

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.