Federated Hermes Inc. Reduces Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Federated Hermes Inc. trimmed its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,425 shares of the company’s stock after selling 7,966 shares during the period. Federated Hermes Inc.’s holdings in Upbound Group were worth $9,798,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in shares of Upbound Group during the 3rd quarter worth approximately $1,760,000. Swiss National Bank purchased a new position in shares of Upbound Group during the 3rd quarter worth approximately $3,078,000. Invesco Ltd. purchased a new position in shares of Upbound Group during the 3rd quarter worth approximately $14,154,000. Vanguard Group Inc. purchased a new position in shares of Upbound Group during the 3rd quarter worth approximately $170,877,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Upbound Group during the 3rd quarter worth approximately $705,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Upbound Group

In other Upbound Group news, EVP Anthony J. Blasquez sold 12,485 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $33.18, for a total value of $414,252.30. Following the transaction, the executive vice president now owns 58,967 shares in the company, valued at approximately $1,956,525.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Upbound Group Trading Up 1.4 %

Shares of UPBD opened at $31.49 on Wednesday. The company’s fifty day moving average is $33.07 and its two-hundred day moving average is $31.79. Upbound Group, Inc. has a fifty-two week low of $23.05 and a fifty-two week high of $36.17. The company has a current ratio of 3.12, a quick ratio of 0.65 and a debt-to-equity ratio of 2.33.

Upbound Group (NASDAQ:UPBD) last posted its earnings results on Thursday, February 22nd. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $994.27 million. Upbound Group had a negative net margin of 0.13% and a positive return on equity of 32.65%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. Equities analysts predict that Upbound Group, Inc. will post 3.76 EPS for the current fiscal year.

Upbound Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Wednesday, April 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $1.48 annualized dividend and a dividend yield of 4.70%. Upbound Group’s payout ratio is -1,233.23%.

Analysts Set New Price Targets

Several analysts have commented on UPBD shares. KeyCorp lifted their target price on shares of Upbound Group from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. TD Cowen started coverage on shares of Upbound Group in a research note on Friday, March 8th. They issued an “outperform” rating and a $43.00 target price for the company. Finally, Stephens raised shares of Upbound Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $38.17.

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.