Russell Investments Group Ltd. Has $1.69 Million Stock Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Russell Investments Group Ltd. lessened its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 33.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,072 shares of the company’s stock after selling 29,842 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of Upbound Group worth $1,694,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of UPBD. Victory Capital Management Inc. grew its holdings in shares of Upbound Group by 171.9% during the 4th quarter. Victory Capital Management Inc. now owns 267,618 shares of the company’s stock worth $7,806,000 after purchasing an additional 169,197 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Upbound Group during the fourth quarter worth about $4,883,000. Wellington Management Group LLP increased its holdings in Upbound Group by 37.9% in the 4th quarter. Wellington Management Group LLP now owns 559,120 shares of the company’s stock valued at $16,310,000 after buying an additional 153,551 shares during the period. Norges Bank bought a new position in Upbound Group in the 4th quarter valued at about $4,328,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Upbound Group in the 4th quarter valued at approximately $3,922,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Loop Capital decreased their price objective on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Upbound Group Stock Up 0.9 %

UPBD stock opened at $20.55 on Friday. The firm has a 50-day moving average price of $24.57 and a 200-day moving average price of $28.50. Upbound Group, Inc. has a 12 month low of $20.06 and a 12 month high of $38.72. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $1.18 billion, a P/E ratio of 9.30 and a beta of 1.90.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. As a group, equities research analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Wednesday, April 2nd will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 7.59%. Upbound Group’s dividend payout ratio is currently 70.59%.

Insiders Place Their Bets

In other Upbound Group news, CFO Fahmi Karam bought 11,500 shares of Upbound Group stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $25.82 per share, with a total value of $296,930.00. Following the acquisition, the chief financial officer now directly owns 164,672 shares of the company’s stock, valued at $4,251,831.04. The trade was a 7.51 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

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.