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

Advisors Asset Management Inc. raised its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 1,173.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,884 shares of the company’s stock after purchasing an additional 54,259 shares during the quarter. Advisors Asset Management Inc.’s holdings in Upbound Group were worth $1,391,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of UPBD. The Manufacturers Life Insurance Company grew its holdings in shares of Upbound Group by 1.9% during the second 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 lifted its position in Upbound Group by 3.4% in the 3rd quarter. Amalgamated Bank now owns 15,275 shares of the company’s stock valued at $361,000 after acquiring an additional 509 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Upbound Group by 0.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 84,556 shares of the company’s stock valued at $2,122,000 after purchasing an additional 621 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Upbound Group by 5.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,183 shares of the company’s stock worth $311,000 after purchasing an additional 638 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in shares of Upbound Group by 4.2% in the 2nd quarter. Yousif Capital Management LLC now owns 19,093 shares of the company’s stock worth $479,000 after purchasing an additional 777 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Upbound Group

In other news, Director Jeffrey J. Brown acquired 2,502 shares of Upbound Group stock in a transaction dated Tuesday, January 6th. The stock was purchased at an average cost of $17.68 per share, with a total value of $44,235.36. Following the completion of the purchase, the director directly owned 92,972 shares in the company, valued at approximately $1,643,744.96. This trade represents a 2.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Upbound Group Stock Up 2.4%

NASDAQ UPBD opened at $20.31 on Tuesday. Upbound Group, Inc. has a 52 week low of $15.82 and a 52 week high of $30.20. The company has a quick ratio of 0.98, a current ratio of 3.16 and a debt-to-equity ratio of 2.25. The company has a market capitalization of $1.18 billion, a P/E ratio of 14.01 and a beta of 1.88. The stock’s 50-day moving average price is $18.91 and its 200-day moving average price is $20.89.

Upbound Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.56 annualized dividend and a yield of 7.7%. Upbound Group’s payout ratio is currently 107.59%.

Analyst Ratings Changes

Several equities research analysts recently commented on UPBD shares. BTIG Research dropped their price objective on Upbound Group from $40.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Upbound Group in a report on Monday, December 29th. Wall Street Zen cut shares of Upbound Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. TD Cowen restated a “buy” rating on shares of Upbound Group in a research report on Thursday, January 8th. Finally, Zacks Research downgraded shares of Upbound Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Upbound Group currently has an average rating of “Moderate Buy” and an average price target of $32.25.

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.