Advisors Asset Management Inc. Increases Stake in Upbound Group, Inc. $UPBD

Advisors Asset Management Inc. raised its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 1,173.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 58,884 shares of the company’s stock after purchasing an additional 54,259 shares during the quarter. Advisors Asset Management Inc. owned 0.10% of Upbound Group worth $1,391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Upbound Group by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,705 shares of the company’s stock valued at $645,000 after buying an additional 482 shares during the last quarter. Amalgamated Bank raised its stake in shares of Upbound Group by 3.4% during the third quarter. Amalgamated Bank now owns 15,275 shares of the company’s stock valued at $361,000 after acquiring an additional 509 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Upbound Group by 0.7% during the second quarter. Allianz Asset Management GmbH now owns 84,556 shares of the company’s stock valued at $2,122,000 after acquiring an additional 621 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Upbound Group by 5.5% during the second quarter. Nisa Investment Advisors LLC now owns 12,183 shares of the company’s stock worth $311,000 after purchasing an additional 638 shares during the period. Finally, Yousif Capital Management LLC grew its stake in shares of Upbound Group by 4.2% in the second quarter. Yousif Capital Management LLC now owns 19,093 shares of the company’s stock worth $479,000 after purchasing an additional 777 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

Upbound Group Trading Up 2.4%

NASDAQ:UPBD opened at $20.31 on Tuesday. Upbound Group, Inc. has a one year low of $15.82 and a one year high of $30.20. The company has a debt-to-equity ratio of 2.25, a current ratio of 3.16 and a quick ratio of 0.98. The company’s 50-day simple moving average is $18.91 and its 200 day simple moving average is $20.89. The firm has a market capitalization of $1.18 billion, a P/E ratio of 14.01 and a beta of 1.88.

Upbound Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Wednesday, December 17th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Wednesday, December 17th. Upbound Group’s dividend payout ratio (DPR) is 107.59%.

Analyst Upgrades and Downgrades

UPBD has been the topic of a number of research analyst reports. BTIG Research reduced their price target on Upbound Group from $40.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Wall Street Zen cut Upbound Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Upbound Group in a report on Monday, December 29th. Zacks Research cut shares of Upbound Group from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Finally, TD Cowen restated a “buy” rating on shares of Upbound Group in a report on Thursday, January 8th. Four 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Insiders Place Their Bets

In related news, Director Jeffrey J. Brown acquired 2,502 shares of the stock in a transaction on Tuesday, January 6th. The stock was acquired at an average price of $17.68 per share, for a total transaction of $44,235.36. Following the completion of the purchase, the director owned 92,972 shares of the company’s stock, valued at $1,643,744.96. This represents a 2.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company 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. It offers furniture comprising mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories.