Raymond James Financial Inc. Takes $3.92 Million Position in Upbound Group, Inc. (NASDAQ:UPBD)

Raymond James Financial Inc. bought a new stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 134,459 shares of the company's stock, valued at approximately $3,922,000. Raymond James Financial Inc. owned about 0.25% of Upbound Group as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of UPBD. Vanguard Group Inc. lifted its position 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 worth $197,804,000 after purchasing an additional 113,212 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Upbound Group by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,186 shares of the company's stock valued at $28,417,000 after purchasing an additional 60,139 shares in the last quarter. Huber Capital Management LLC lifted its position in Upbound Group by 2.2% during the 4th quarter. Huber Capital Management LLC now owns 856,147 shares of the company's stock worth $24,974,000 after buying an additional 18,343 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Upbound Group by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 797,478 shares of the company's stock worth $23,262,000 after buying an additional 54,771 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Upbound Group by 37.9% during the 4th quarter. Wellington Management Group LLP now owns 559,120 shares of the company's stock worth $16,310,000 after buying an additional 153,551 shares during the last quarter. Institutional investors own 90.30% of the company's stock.

Insiders Place Their Bets

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

Upbound Group Stock Performance

Shares of NASDAQ:UPBD traded down $0.05 during trading on Friday, reaching $23.65. 110,239 shares of the stock were exchanged, compared to its average volume of 500,998. The firm has a market cap of $1.37 billion, a PE ratio of 10.72 and a beta of 1.90. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. Upbound Group, Inc. has a 12 month low of $19.69 and a 12 month high of $38.72. The stock has a 50-day moving average price of $23.15 and a 200-day moving average price of $27.98.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $0.79 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts expect that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 6.60%. The ex-dividend date of this dividend was Wednesday, April 2nd. Upbound Group's dividend payout ratio (DPR) is 70.59%.

Analyst Ratings Changes

Separately, Loop Capital lowered their target price 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 investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

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.