CANADA LIFE ASSURANCE Co Decreases Stake in Upbound Group, Inc. (NASDAQ:UPBD)

CANADA LIFE ASSURANCE Co lowered its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,803 shares of the company's stock after selling 14,150 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.09% of Upbound Group worth $1,394,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Kennedy Capital Management LLC purchased a new position in shares of Upbound Group in the fourth quarter worth $10,214,000. Marshall Wace LLP increased its position in shares of Upbound Group by 333.9% in the 4th quarter. Marshall Wace LLP now owns 350,949 shares of the company's stock valued at $10,237,000 after acquiring an additional 270,064 shares during the period. Victory Capital Management Inc. raised its stake in Upbound Group by 171.9% in the 4th quarter. Victory Capital Management Inc. now owns 267,618 shares of the company's stock worth $7,806,000 after acquiring an additional 169,197 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Upbound Group during the 4th quarter valued at about $4,883,000. Finally, Wellington Management Group LLP increased its holdings in shares of Upbound Group by 37.9% in the fourth quarter. Wellington Management Group LLP now owns 559,120 shares of the company's stock valued at $16,310,000 after purchasing an additional 153,551 shares during the period. Institutional investors and hedge funds own 90.30% of the company's stock.

Upbound Group Stock Performance

Shares of NASDAQ UPBD traded up $0.46 during midday trading on Friday, reaching $24.16. 762,744 shares of the stock were exchanged, compared to its average volume of 502,043. 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 firm has a market cap of $1.40 billion, a price-to-earnings ratio of 10.93 and a beta of 1.90. The firm has a 50-day simple moving average of $23.09 and a two-hundred day simple moving average of $27.91. Upbound Group, Inc. has a twelve month low of $19.69 and a twelve month high of $38.72.

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 analysts' consensus estimates of $0.94 by $0.06. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders 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 yield of 6.46%. Upbound Group's dividend payout ratio is currently 70.59%.

Insider Buying and Selling at Upbound Group

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on UPBD shares. Loop Capital cut their price target 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. Raymond James reiterated an "outperform" rating and issued a $35.00 price objective (down previously from $40.00) on shares of Upbound Group in a research note on Friday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.60.

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.