Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by First National Advisers LLC

Key Points

• First National Advisers LLC reduced its holdings in Upbound Group, Inc. by 87.5%, selling 58,515 shares and owning 8,395 shares worth $201,000 at the end of the first quarter.
• Despite First National Advisers' reduction, other institutional investors increased their stakes, with TD Private Client Wealth LLC raising its position by 59.9% during the same period.
• Upbound Group recently declared a quarterly dividend of $0.39 per share, representing a 6.22% yield, while maintaining a payout ratio of 73.24%.

First National Advisers LLC lowered its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 87.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,395 shares of the company's stock after selling 58,515 shares during the quarter. First National Advisers LLC's holdings in Upbound Group were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UPBD. American Century Companies Inc. grew its holdings in shares of Upbound Group by 216.8% during the fourth quarter. American Century Companies Inc. now owns 32,745 shares of the company's stock worth $955,000 after buying an additional 22,410 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Upbound Group by 204.6% during the fourth quarter. Sei Investments Co. now owns 19,334 shares of the company's stock worth $564,000 after buying an additional 12,986 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Upbound Group during the fourth quarter worth about $490,000. Vanguard Group Inc. grew its holdings in shares of Upbound Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company's stock worth $197,804,000 after buying an additional 113,212 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Upbound Group by 16.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 117,771 shares of the company's stock valued at $3,435,000 after purchasing an additional 16,366 shares in the last quarter. Hedge funds and other institutional investors own 90.30% of the company's stock.

Upbound Group Price Performance

UPBD stock traded down $2.95 during trading on Thursday, reaching $21.42. 1,094,671 shares of the company were exchanged, compared to its average volume of 558,426. Upbound Group, Inc. has a 52-week low of $19.68 and a 52-week high of $38.72. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.80 and a current ratio of 3.12. The company has a market cap of $1.24 billion, a P/E ratio of 10.06 and a beta of 1.74. The stock's 50 day moving average price is $24.88 and its 200 day moving average price is $25.18.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. Upbound Group had a return on equity of 36.30% and a net margin of 2.74%. Upbound Group's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. As a group, analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.56 annualized dividend and a yield of 7.28%. Upbound Group's dividend payout ratio is presently 73.24%.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reissued an "outperform" rating and set a $35.00 target price (down from $40.00) on shares of Upbound Group in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.50.

Insider Transactions at Upbound Group

In related news, Director Jeffrey J. Brown acquired 21,730 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $23.75 per share, for a total transaction of $516,087.50. Following the transaction, the director directly owned 21,730 shares of the company's stock, valued at approximately $516,087.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company's stock.

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.