JPMorgan Chase & Co. Grows Stock Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

JPMorgan Chase & Co. grew its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 130.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,397 shares of the company’s stock after acquiring an additional 103,212 shares during the period. JPMorgan Chase & Co. owned about 0.33% of Upbound Group worth $5,835,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. raised its position in Upbound Group by 29.0% during the 3rd quarter. Franklin Resources Inc. now owns 32,791 shares of the company’s stock valued at $963,000 after purchasing an additional 7,372 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Upbound Group during the third quarter valued at approximately $229,000. Geode Capital Management LLC raised its holdings in shares of Upbound Group by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company’s stock valued at $38,968,000 after acquiring an additional 54,427 shares in the last quarter. Barclays PLC lifted its stake in Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company’s stock worth $10,116,000 after acquiring an additional 94,333 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Upbound Group by 32.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 33,862 shares of the company’s stock valued at $1,083,000 after acquiring an additional 8,360 shares in the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. 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 report on Friday, November 1st. Jefferies Financial Group decreased their price target 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. TD Cowen raised Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Stephens began coverage on Upbound Group in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price for the company. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.17.

Insider Activity

In other news, Director Jeffrey J. Brown purchased 1,065 shares of the business’s stock in a transaction dated 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 acquisition, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. This represents a 1.27 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Upbound Group Trading Up 0.7 %

Shares of NASDAQ UPBD opened at $29.50 on Friday. Upbound Group, Inc. has a 1 year low of $26.50 and a 1 year high of $38.72. 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 $31.65 and a 200 day moving average of $31.40. The stock has a market cap of $1.61 billion, a P/E ratio of 20.34 and a beta of 2.05.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the business earned $0.79 earnings per share. As a group, sell-side analysts expect that Upbound Group, Inc. will post 3.8 EPS for the current fiscal year.

Upbound Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th were paid a $0.39 dividend. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date was Wednesday, December 18th. Upbound Group’s dividend payout ratio is currently 107.59%.

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.