Upbound Group, Inc. (NASDAQ:UPBD – Get Free Report) announced a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend 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. Equities 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 %
NASDAQ UPBD traded down $0.54 during trading hours on Friday, hitting $30.55. The company had a trading volume of 478,414 shares, compared to its average volume of 435,299. Upbound Group has a fifty-two week low of $25.00 and a fifty-two week high of $38.72. 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 business has a fifty day simple moving average of $32.63 and a 200-day simple moving average of $32.31.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on UPBD. Jefferies Financial Group lowered their price target on Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Loop Capital reissued a “hold” rating and set a $36.00 target price on shares of Upbound Group in a research note on Friday, September 13th. Finally, BTIG Research began coverage on shares of Upbound Group in a research note on Friday, June 7th. They issued a “buy” rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.40.
Get Our Latest Stock Analysis on Upbound Group
Insider Buying and Selling
In other news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group 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 transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at approximately $498,134. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upbound Group news, EVP Ralph T. Montrone sold 15,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.48, for a total transaction of $487,200.00. Following the completion of the sale, the executive vice president now directly owns 40,074 shares of the company’s stock, valued at $1,301,603.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Transient C. Taylor sold 15,127 shares of Upbound Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the transaction, the executive vice president now directly 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 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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