Upbound Group, Inc. (NASDAQ:UPBD – Get Free Report) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Shareholders of record on Tuesday, October 1st will be paid a dividend of 0.37 per share on Tuesday, October 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Tuesday, October 1st.
Upbound Group has decreased its dividend by an average of 1.9% per year over the last three years. Upbound Group has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Upbound Group to earn $4.50 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 32.9%.
Upbound Group Stock Down 1.7 %
Shares of UPBD traded down $0.54 during trading hours on Friday, reaching $30.55. The company’s stock had a trading volume of 478,414 shares, compared to its average volume of 435,299. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. The company has a 50 day moving average of $32.63 and a two-hundred day moving average of $32.31. Upbound Group has a 1-year low of $25.00 and a 1-year high of $38.72.
Wall Street Analyst Weigh In
Several brokerages have weighed in on UPBD. Loop Capital reaffirmed a “hold” rating and issued a $36.00 target price on shares of Upbound Group in a research report on Friday, September 13th. BTIG Research assumed coverage on Upbound Group in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.40.
Read Our Latest Analysis on UPBD
Insider Transactions at Upbound Group
In related news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at approximately $498,134. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jeffrey J. Brown purchased 1,031 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was purchased at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares in the company, valued at $498,134. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.
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.
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