Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,583 shares of the company’s stock after selling 1,638 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Upbound Group worth $3,793,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after purchasing an additional 362 shares in the last quarter. Covestor Ltd increased its holdings in Upbound Group by 268.8% in the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company’s stock valued at $37,000 after purchasing an additional 828 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Upbound Group in the 2nd quarter valued at $42,000. Ashton Thomas Private Wealth LLC acquired a new stake in Upbound Group in the 2nd quarter valued at $89,000. Finally, SG Americas Securities LLC acquired a new stake in Upbound Group in the 3rd quarter valued at $142,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPBD has been the subject of several recent research reports. TD Cowen upgraded Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Stephens assumed coverage on shares of Upbound Group in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price objective for the company. Jefferies Financial Group decreased their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Tuesday, October 1st. Finally, Loop Capital decreased their price objective on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.17.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,065 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were purchased at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the purchase, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 1.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.

Upbound Group Stock Performance

NASDAQ:UPBD opened at $33.60 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.66 and a quick ratio of 0.86. The firm has a 50-day moving average of $31.44 and a two-hundred day moving average of $31.75. The stock has a market cap of $1.84 billion, a P/E ratio of 23.17 and a beta of 2.03. Upbound Group, Inc. has a 1-year low of $26.50 and a 1-year high of $38.72.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts expect that Upbound Group, Inc. will post 3.8 earnings per share for the current fiscal year.

Upbound Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.39 per share. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, December 18th. This represents a $1.56 annualized dividend and a dividend yield of 4.64%. Upbound Group’s dividend payout ratio (DPR) is presently 107.59%.

About Upbound Group

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.