Northern Trust Corp Has $19.05 Million Position in Upbound Group, Inc. (NASDAQ:UPBD)

Northern Trust Corp increased its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 22.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 653,053 shares of the company's stock after purchasing an additional 117,926 shares during the quarter. Northern Trust Corp owned about 1.19% of Upbound Group worth $19,050,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Barclays PLC grew its stake in shares of Upbound Group by 42.5% during the third quarter. Barclays PLC now owns 316,225 shares of the company's stock valued at $10,116,000 after purchasing an additional 94,333 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Upbound Group by 130.3% during the third quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company's stock valued at $5,835,000 after purchasing an additional 103,212 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Upbound Group during the fourth quarter valued at approximately $3,922,000. Franklin Resources Inc. grew its stake in shares of Upbound Group by 29.0% during the third 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 during the last quarter. Finally, Vanguard Group Inc. grew its stake 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 valued at $197,804,000 after purchasing an additional 113,212 shares during the last quarter. 90.30% of the stock is owned by institutional investors.

Insider Transactions at Upbound Group

In other news, CFO Fahmi Karam purchased 11,500 shares of Upbound Group stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $25.82 per share, with a total value of $296,930.00. Following the completion of the transaction, the chief financial officer now directly owns 164,672 shares in the company, valued at $4,251,831.04. This trade represents a 7.51% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey J. Brown purchased 21,730 shares of Upbound Group stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $23.75 per share, for a total transaction of $516,087.50. Following the completion of the transaction, the director now owns 21,730 shares of the company's stock, valued at approximately $516,087.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 34,924 shares of company stock valued at $846,711 over the last three months. 2.70% of the stock is currently owned by corporate insiders.

Upbound Group Trading Down 0.4%

NASDAQ UPBD traded down $0.09 during trading hours on Monday, hitting $25.02. The company's stock had a trading volume of 277,626 shares, compared to its average volume of 508,166. The stock has a fifty day moving average of $22.90 and a 200 day moving average of $27.64. Upbound Group, Inc. has a twelve month low of $19.69 and a twelve month high of $38.72. The firm has a market capitalization of $1.45 billion, a P/E ratio of 11.32 and a beta of 1.77. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates 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 business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Equities research analysts forecast that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.24%. Upbound Group's dividend payout ratio is 73.24%.

Analysts Set New Price Targets

UPBD has been the topic of several research analyst reports. Raymond James reissued an "outperform" rating and set a $35.00 price target (down from $40.00) on shares of Upbound Group in a research note on Friday, May 2nd. Loop Capital cut their price objective on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Upbound Group has a consensus rating of "Moderate Buy" and a consensus price target of $36.60.

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.