Secure Asset Management LLC Raises Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Secure Asset Management LLC grew its position in Upbound Group, Inc. (NASDAQ:UPBD) by 12.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 56,832 shares of the company’s stock after acquiring an additional 6,456 shares during the period. Secure Asset Management LLC’s holdings in Upbound Group were worth $1,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in UPBD. Covestor Ltd lifted its stake in Upbound Group by 268.8% during the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after purchasing an additional 828 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Upbound Group by 40.1% in the 3rd quarter. Blue Trust Inc. now owns 1,566 shares of the company’s stock valued at $48,000 after purchasing an additional 448 shares during the last quarter. Quarry LP boosted its holdings in shares of Upbound Group by 374.3% in the third quarter. Quarry LP now owns 3,282 shares of the company’s stock valued at $105,000 after acquiring an additional 2,590 shares during the period. SG Americas Securities LLC purchased a new position in shares of Upbound Group during the third quarter worth approximately $142,000. Finally, nVerses Capital LLC acquired a new position in shares of Upbound Group in the 3rd quarter valued at $192,000. 90.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Cowen raised Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Stephens began 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 dropped their target price on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Finally, Loop Capital reduced their price target on Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.17.

Insider Buying and Selling at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,146 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the acquisition, the director now owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. This represents a 1.34 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by company insiders.

Upbound Group Stock Performance

Shares of UPBD opened at $29.75 on Friday. The company has a 50-day moving average of $31.37 and a two-hundred day moving average of $31.40. The stock has a market cap of $1.63 billion, a P/E ratio of 20.52 and a beta of 2.05. Upbound Group, Inc. has a 12-month low of $26.50 and a 12-month high of $38.72. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02.

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

Upbound Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date of this dividend was Wednesday, December 18th. This is a positive change from Upbound Group’s previous quarterly dividend of $0.37. Upbound Group’s dividend payout ratio is currently 107.59%.

Upbound Group 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.