State Street Corp Has $64.88 Million Stock Position in Upbound Group, Inc. (NASDAQ:UPBD)

State Street Corp lifted its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,028,224 shares of the company’s stock after purchasing an additional 43,814 shares during the quarter. State Street Corp owned about 3.71% of Upbound Group worth $64,883,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in UPBD. Blue Trust Inc. raised its holdings in Upbound Group by 47.9% during the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock worth $34,000 after buying an additional 362 shares during the last quarter. New York State Teachers Retirement System lifted its position in Upbound Group by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 80,578 shares of the company’s stock valued at $2,578,000 after acquiring an additional 393 shares in the last quarter. Amalgamated Bank boosted its stake in Upbound Group by 3.5% during the 3rd quarter. Amalgamated Bank now owns 14,491 shares of the company’s stock valued at $464,000 after purchasing an additional 496 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Upbound Group by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $691,000 after purchasing an additional 500 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Upbound Group by 268.8% in 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. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stephens started coverage on Upbound Group in a report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target for the company. Jefferies Financial Group reduced their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, October 1st. Loop Capital dropped their price target on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

Insiders Place Their Bets

In other news, Director Jeffrey J. Brown purchased 1,065 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average price of $29.25 per share, with a total value of $31,151.25. Following the transaction, the director now directly owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Upbound Group Trading Down 3.9 %

NASDAQ UPBD opened at $30.45 on Thursday. The business’s fifty day moving average is $31.58 and its 200-day moving average is $31.77. 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 stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 21.00 and a beta of 2.03. Upbound Group, Inc. has a one year low of $26.50 and a one year high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data 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 analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts predict that Upbound Group, Inc. will post 3.8 EPS for the current year.

Upbound Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.12%. This is a positive change from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, December 18th. Upbound Group’s dividend payout ratio is 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.