Bank of New York Mellon Corp Increases Holdings in Upbound Group, Inc. $UPBD

Bank of New York Mellon Corp boosted its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 791,626 shares of the company’s stock after acquiring an additional 10,610 shares during the period. Bank of New York Mellon Corp owned 1.37% of Upbound Group worth $19,870,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of UPBD. Nuveen LLC bought a new stake in shares of Upbound Group in the first quarter valued at $10,023,000. Bragg Financial Advisors Inc raised its stake in Upbound Group by 78.3% in the 1st quarter. Bragg Financial Advisors Inc now owns 724,231 shares of the company’s stock valued at $17,353,000 after acquiring an additional 318,060 shares during the period. Vanguard Group Inc. lifted its holdings in Upbound Group by 3.6% during the first quarter. Vanguard Group Inc. now owns 7,025,821 shares of the company’s stock valued at $168,339,000 after purchasing an additional 244,746 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Upbound Group by 73.0% during the first quarter. Goldman Sachs Group Inc. now owns 532,809 shares of the company’s stock valued at $12,766,000 after purchasing an additional 224,811 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Upbound Group by 71.5% during the first quarter. Panagora Asset Management Inc. now owns 298,003 shares of the company’s stock worth $7,140,000 after purchasing an additional 124,229 shares during the period. 90.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on UPBD shares. Zacks Research downgraded shares of Upbound Group from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Upbound Group in a report on Thursday. Wall Street Zen cut Upbound Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Loop Capital raised Upbound Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, September 15th. Finally, BTIG Research cut their target price on Upbound Group from $40.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Upbound Group presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Upbound Group Stock Down 0.4%

Shares of NASDAQ UPBD opened at $16.96 on Monday. The company has a current ratio of 3.11, a quick ratio of 0.83 and a debt-to-equity ratio of 2.29. The business has a 50-day moving average of $22.39 and a 200-day moving average of $23.72. The firm has a market capitalization of $982.09 million, a price-to-earnings ratio of 9.53 and a beta of 1.79. Upbound Group, Inc. has a 12 month low of $16.68 and a 12 month high of $36.00.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, October 30th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Upbound Group had a net margin of 2.28% and a return on equity of 36.26%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $0.95 earnings per share. Upbound Group’s revenue for the quarter was up 9.0% on a year-over-year basis. Upbound Group has set its FY 2025 guidance at 4.050-4.150 EPS. Sell-side analysts expect that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were given a $0.39 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.56 annualized dividend and a yield of 9.2%. Upbound Group’s payout ratio is 107.59%.

Insiders Place Their Bets

In other Upbound Group news, EVP Ralph T. Montrone sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $25.23, for a total value of $151,380.00. Following the completion of the sale, the executive vice president owned 49,123 shares of the company’s stock, valued at $1,239,373.29. This represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey J. Brown purchased 1,951 shares of Upbound Group stock in a transaction on Tuesday, October 21st. The shares were acquired at an average price of $22.27 per share, for a total transaction of $43,448.77. Following the completion of the transaction, the director directly owned 90,965 shares of the company’s stock, valued at approximately $2,025,790.55. The trade was a 2.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by corporate insiders.

Upbound Group Company 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.