Secure Asset Management LLC Boosts Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Secure Asset Management LLC grew its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,832 shares of the company’s stock after acquiring an additional 6,456 shares during the quarter. Secure Asset Management LLC owned about 0.10% of Upbound Group worth $1,658,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Upbound Group by 2,864.5% in the third quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock worth $12,974,000 after purchasing an additional 391,888 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Upbound Group by 1,903.6% during the second quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock valued at $12,154,000 after acquiring an additional 376,129 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Upbound Group in the second quarter worth $5,607,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Upbound Group during the third quarter valued at $4,035,000. Finally, Algert Global LLC increased its position in shares of Upbound Group by 82.8% in the 3rd quarter. Algert Global LLC now owns 265,661 shares of the company’s stock valued at $8,498,000 after acquiring an additional 120,345 shares during the period. 90.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UPBD has been the topic of several recent research reports. Jefferies Financial Group dropped their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st. TD Cowen raised Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Loop Capital decreased their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, Stephens began coverage on shares of Upbound Group in a research note on Wednesday, November 13th. They set an “overweight” rating and a $38.00 target price on the stock. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.17.

Upbound Group Price Performance

Shares of NASDAQ UPBD opened at $29.75 on Friday. Upbound Group, Inc. has a 52 week low of $26.50 and a 52 week high of $38.72. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 20.52 and a beta of 2.05. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. The firm has a 50-day simple moving average of $31.37 and a 200-day simple moving average of $31.40.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $0.79 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, equities analysts predict that Upbound Group, Inc. will post 3.8 earnings per share for the current fiscal year.

Upbound Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.24%. This is an increase from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, December 18th. Upbound Group’s payout ratio is 107.59%.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,146 shares of the stock in a transaction dated Tuesday, January 7th. The stock was acquired at an average price of $29.01 per share, with a total value of $33,245.46. Following the completion of the purchase, the director now owns 86,380 shares in the company, valued at $2,505,883.80. This trade represents a 1.34 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.70% of the company’s stock.

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.