California State Teachers Retirement System Has $1.28 Million Stake in Upbound Group, Inc. (NASDAQ:UPBD)

California State Teachers Retirement System decreased its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,984 shares of the company’s stock after selling 474 shares during the quarter. California State Teachers Retirement System owned 0.08% of Upbound Group worth $1,283,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of UPBD. PNC Financial Services Group Inc. raised its stake in Upbound Group by 12.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock worth $110,000 after acquiring an additional 429 shares in the last quarter. Vestcor Inc acquired a new position in Upbound Group during the fourth quarter worth about $174,000. Freestone Grove Partners LP acquired a new position in Upbound Group during the fourth quarter worth about $221,000. Crestline Management LP acquired a new position in Upbound Group during the fourth quarter worth about $230,000. Finally, Proficio Capital Partners LLC acquired a new position in Upbound Group during the fourth quarter worth about $293,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Insider Activity at Upbound Group

In related news, Director Jeffrey J. Brown bought 1,694 shares of Upbound Group stock in a transaction that occurred on Tuesday, April 22nd. The shares were acquired at an average cost of $19.89 per share, for a total transaction of $33,693.66. Following the completion of the acquisition, the director now directly owns 88,074 shares of the company’s stock, valued at approximately $1,751,791.86. The trade was a 1.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

UPBD has been the subject of several research analyst reports. Loop Capital lowered their target price on Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Raymond James reaffirmed 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, May 2nd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.50.

Upbound Group Stock Performance

Upbound Group stock opened at $25.97 on Tuesday. The business has a 50 day moving average of $22.71 and a 200-day moving average of $26.72. Upbound Group, Inc. has a 1 year low of $19.69 and a 1 year high of $38.72. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. The company has a market capitalization of $1.50 billion, a P/E ratio of 11.75 and a beta of 1.73.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend is Tuesday, June 17th. Upbound Group’s payout ratio is presently 73.24%.

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.