Corebridge Financial Inc. Has $828,000 Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Corebridge Financial Inc. lowered its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,392 shares of the company’s stock after selling 2,210 shares during the period. Corebridge Financial Inc. owned about 0.05% of Upbound Group worth $828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of UPBD. New York State Teachers Retirement System lifted its position in shares of Upbound Group by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 80,938 shares of the company’s stock worth $2,361,000 after buying an additional 360 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Upbound Group by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock valued at $110,000 after purchasing an additional 429 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Upbound Group by 2.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 26,498 shares of the company’s stock worth $773,000 after purchasing an additional 616 shares during the last quarter. Blue Trust Inc. increased its position in shares of Upbound Group by 45.0% during the 4th quarter. Blue Trust Inc. now owns 2,271 shares of the company’s stock worth $73,000 after purchasing an additional 705 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in Upbound Group by 6.3% during the 4th quarter. Inspire Investing LLC now owns 13,798 shares of the company’s stock valued at $402,000 after purchasing an additional 818 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

Upbound Group Stock Up 0.3 %

Shares of NASDAQ UPBD opened at $21.98 on Friday. Upbound Group, Inc. has a 12-month low of $20.45 and a 12-month high of $38.72. The firm’s 50-day simple moving average is $26.60 and its 200 day simple moving average is $29.30. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 9.95 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. On average, research analysts expect that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be paid a $0.39 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.56 annualized dividend and a dividend yield of 7.10%. Upbound Group’s dividend payout ratio (DPR) is currently 70.59%.

Analysts Set New Price Targets

Separately, Loop Capital decreased their price objective on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown bought 1,146 shares of the stock in a transaction on Tuesday, January 7th. The stock was purchased at an average price of $29.01 per share, with a total value of $33,245.46. Following the acquisition, the director now owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Fahmi Karam bought 11,500 shares of the company’s stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $25.82 per share, with a total value of $296,930.00. Following the transaction, the chief financial officer now directly owns 164,672 shares in the company, valued at approximately $4,251,831.04. The trade was a 7.51 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.

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.