Victory Capital Management Inc. Acquires 59,526 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Victory Capital Management Inc. boosted its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 153.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 98,421 shares of the company’s stock after purchasing an additional 59,526 shares during the quarter. Victory Capital Management Inc.’s holdings in Upbound Group were worth $3,148,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Upbound Group in the 1st quarter valued at about $112,000. Russell Investments Group Ltd. increased its stake in Upbound Group by 33.0% in the 1st quarter. Russell Investments Group Ltd. now owns 34,643 shares of the company’s stock valued at $1,220,000 after buying an additional 8,602 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Upbound Group by 35.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,267 shares of the company’s stock valued at $749,000 after buying an additional 5,530 shares during the last quarter. Vanguard Group Inc. increased its stake in Upbound Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock valued at $211,453,000 after buying an additional 209,422 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Upbound Group by 4.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,034 shares of the company’s stock valued at $1,902,000 after buying an additional 2,200 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

Upbound Group Trading Up 2.5 %

Shares of UPBD stock opened at $33.80 on Friday. Upbound Group, Inc. has a 12-month low of $26.50 and a 12-month high of $38.72. The firm has a market cap of $1.85 billion, a P/E ratio of 23.31 and a beta of 2.01. 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 company has a 50 day moving average of $30.44 and a 200-day moving average of $31.57.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $0.79 EPS. Upbound Group’s revenue was up 9.2% compared to the same quarter last year. Sell-side analysts anticipate that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a yield of 4.38%. Upbound Group’s dividend payout ratio is 102.07%.

Insider Activity at Upbound Group

In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the transaction, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at $498,134. This trade represents a 50.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Brown purchased 1,065 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average cost of $29.25 per share, with a total value of $31,151.25. Following the completion of the acquisition, the director now owns 85,234 shares in the company, valued at approximately $2,493,094.50. This trade represents a 1.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Loop Capital decreased their price target 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. Jefferies Financial Group decreased their price target on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, October 1st. Finally, Stephens assumed coverage on shares of Upbound Group in a research note on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.17.

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.