Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by KBC Group NV

KBC Group NV reduced its position in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 87.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,454 shares of the company's stock after selling 17,227 shares during the quarter. KBC Group NV's holdings in Upbound Group were worth $59,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of UPBD. Proficio Capital Partners LLC purchased a new stake in shares of Upbound Group during the fourth quarter worth approximately $293,000. Charles Schwab Investment Management Inc. raised its stake in shares of Upbound Group by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,186 shares of the company's stock worth $28,417,000 after purchasing an additional 60,139 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Upbound Group by 171.9% during the fourth quarter. Victory Capital Management Inc. now owns 267,618 shares of the company's stock worth $7,806,000 after purchasing an additional 169,197 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Upbound Group during the fourth quarter worth approximately $3,922,000. Finally, PNC Financial Services Group Inc. raised its position in Upbound Group by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock worth $110,000 after acquiring an additional 429 shares in the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Upbound Group news, Director Jeffrey J. Brown acquired 21,730 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $23.75 per share, for a total transaction of $516,087.50. Following the acquisition, the director directly owned 21,730 shares of the company's stock, valued at $516,087.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders purchased 25,077 shares of company stock worth $592,594. Insiders own 2.60% of the company's stock.

Upbound Group Trading Down 2.3%

NASDAQ:UPBD traded down $0.62 during mid-day trading on Friday, reaching $26.22. The company's stock had a trading volume of 453,070 shares, compared to its average volume of 537,007. The company's fifty day simple moving average is $24.78 and its two-hundred day simple moving average is $25.55. The company has a debt-to-equity ratio of 2.26, a current ratio of 3.12 and a quick ratio of 0.80. Upbound Group, Inc. has a twelve month low of $19.69 and a twelve month high of $38.72. The stock has a market cap of $1.52 billion, a P/E ratio of 6.49 and a beta of 1.74.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. Upbound Group had a return on equity of 36.30% and a net margin of 2.74%. The company's revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. On average, equities analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend was Tuesday, June 17th. Upbound Group's dividend payout ratio (DPR) is presently 73.24%.

Analyst Ratings Changes

Separately, Raymond James Financial reiterated an "outperform" rating and issued a $35.00 price objective (down previously from $40.00) on shares of Upbound Group in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.50.

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.