SG Americas Securities LLC Acquires 31,693 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

SG Americas Securities LLC raised its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 209.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,796 shares of the company’s stock after purchasing an additional 31,693 shares during the period. SG Americas Securities LLC owned approximately 0.08% of Upbound Group worth $1,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of UPBD. New York State Teachers Retirement System lifted its holdings in shares of Upbound Group by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 80,938 shares of the company’s stock valued at $2,361,000 after purchasing an additional 360 shares in the last quarter. Principal Financial Group Inc. raised its position in Upbound Group by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 238,007 shares of the company’s stock worth $6,943,000 after buying an additional 6,954 shares during the last quarter. Sanctuary Advisors LLC raised its position in Upbound Group by 320.0% in the 4th quarter. Sanctuary Advisors LLC now owns 31,519 shares of the company’s stock worth $942,000 after buying an additional 24,014 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 valued at $23,262,000 after acquiring an additional 54,771 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Upbound Group by 2.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 26,498 shares of the company’s stock valued at $773,000 after acquiring an additional 616 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

Upbound Group Trading Down 4.9%

Shares of Upbound Group stock opened at $24.31 on Wednesday. Upbound Group, Inc. has a 1-year low of $19.69 and a 1-year high of $38.72. The company’s fifty day simple moving average is $23.19 and its 200-day simple moving average is $26.40. The company has a debt-to-equity ratio of 2.26, a current ratio of 3.12 and a quick ratio of 0.80. The stock has a market capitalization of $1.41 billion, a PE ratio of 11.41 and a beta of 1.73.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.13 billion. Upbound Group had a return on equity of 36.30% and a net margin of 2.74%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. As a group, equities analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 17th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.42%. Upbound Group’s dividend payout ratio (DPR) is presently 73.24%.

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,694 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UPBD shares. Loop Capital decreased their price objective on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a report on Friday, February 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Upbound Group in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Upbound Group currently has an average rating of “Moderate Buy” and an average price target of $34.50.

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.