Principal Financial Group Inc. Has $7.39 Million Stock Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Principal Financial Group Inc. lessened its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 231,053 shares of the company’s stock after selling 9,302 shares during the quarter. Principal Financial Group Inc. owned approximately 0.42% of Upbound Group worth $7,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Upbound Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock worth $211,453,000 after buying an additional 209,422 shares during the period. Ieq Capital LLC boosted its position in shares of Upbound Group by 112.7% during the 2nd quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock valued at $148,190,000 after acquiring an additional 2,557,906 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Upbound Group by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 761,765 shares of the company’s stock valued at $23,386,000 after purchasing an additional 15,219 shares during the period. Huber Capital Management LLC grew its position in Upbound Group by 51.4% in the second quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock valued at $22,881,000 after acquiring an additional 253,104 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Upbound Group by 1,903.6% in the 2nd quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock worth $12,154,000 after purchasing an additional 376,129 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

Upbound Group Stock Down 0.7 %

Shares of UPBD stock opened at $32.41 on Wednesday. The firm has a fifty day moving average of $30.23 and a 200-day moving average of $31.52. Upbound Group, Inc. has a 12-month low of $26.50 and a 12-month high of $38.72. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 22.35 and a beta of 2.01. The company has a quick ratio of 0.86, a current ratio of 3.66 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. As a group, equities research analysts predict that Upbound Group, Inc. will post 3.79 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group’s payout ratio is presently 102.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Loop Capital dropped 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. Jefferies Financial Group reduced their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st. Finally, Stephens started coverage on Upbound Group in a research report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Upbound Group currently has an average rating of “Moderate Buy” and a consensus target price of $39.17.

Insider Buying and Selling at Upbound Group

In related news, Director Jeffrey J. Brown bought 1,065 shares of Upbound Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was acquired at an average price of $29.25 per share, with a total value of $31,151.25. Following the acquisition, the director now owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at approximately $498,134. This trade represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

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.