First Trust Advisors LP Takes $2.06 Million Position in Upbound Group, Inc. (NASDAQ:UPBD)

First Trust Advisors LP purchased a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 70,746 shares of the company's stock, valued at approximately $2,064,000. First Trust Advisors LP owned 0.13% of Upbound Group at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UPBD. Barclays PLC boosted its stake in shares of Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company's stock valued at $10,116,000 after buying an additional 94,333 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Upbound Group by 130.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company's stock worth $5,835,000 after purchasing an additional 103,212 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Upbound Group during the 4th quarter worth $3,922,000. Franklin Resources Inc. increased its holdings in shares of Upbound Group by 29.0% in 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 in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Upbound Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company's stock valued at $197,804,000 after purchasing an additional 113,212 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

UPBD has been the subject of a number of research analyst reports. Raymond James reaffirmed an "outperform" rating and issued a $35.00 target price (down from $40.00) on shares of Upbound Group in a report on Friday. Loop Capital reduced their price objective on Upbound Group from $33.00 to $30.00 and set a "hold" rating for the company in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Upbound Group currently has an average rating of "Moderate Buy" and an average price target of $36.60.

Upbound Group Stock Performance

NASDAQ UPBD opened at $24.17 on Tuesday. 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 stock has a market cap of $1.40 billion, a price-to-earnings ratio of 10.94 and a beta of 1.90. Upbound Group, Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $38.72. The business has a fifty day moving average of $23.03 and a 200-day moving average of $27.87.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.13 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.79 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 6.45%. The ex-dividend date was Wednesday, April 2nd. Upbound Group's dividend payout ratio (DPR) is 70.59%.

Insider Activity

In related news, Director Jeffrey J. Brown acquired 1,694 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were acquired at an average cost of $19.89 per share, for a total transaction of $33,693.66. Following the acquisition, the director now directly owns 88,074 shares in the company, valued at approximately $1,751,791.86. The trade was a 1.96 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Fahmi Karam bought 11,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $25.82 per share, with a total value of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares of the company's stock, valued at $4,251,831.04. This trade represents a 7.51 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company's stock.

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.

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