Secure Asset Management LLC Has $1.26 Million Stock Position in Upbound Group, Inc. (NASDAQ:UPBD)

Secure Asset Management LLC increased its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,112 shares of the company’s stock after purchasing an additional 1,821 shares during the quarter. Secure Asset Management LLC owned approximately 0.08% of Upbound Group worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new stake in Upbound Group during the 4th quarter valued at $758,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Upbound Group by 16.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,539 shares of the company’s stock worth $392,000 after acquiring an additional 1,644 shares in the last quarter. Mach 1 Financial Group LLC acquired a new stake in Upbound Group during the 4th quarter worth about $421,000. LSV Asset Management boosted its position in Upbound Group by 9.4% during the 4th quarter. LSV Asset Management now owns 1,184,352 shares of the company’s stock worth $40,232,000 after acquiring an additional 101,620 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in Upbound Group by 12.8% during the 4th quarter. Teacher Retirement System of Texas now owns 31,548 shares of the company’s stock valued at $1,072,000 after acquiring an additional 3,574 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Stock Up 6.2 %

Shares of Upbound Group stock traded up $1.96 during trading on Friday, hitting $33.41. 434,315 shares of the stock traded hands, compared to its average volume of 413,487. The company has a fifty day moving average price of $32.15 and a two-hundred day moving average price of $32.50. Upbound Group, Inc. has a twelve month low of $25.00 and a twelve month high of $38.72. The stock has a market cap of $1.83 billion, a P/E ratio of -72.30 and a beta of 2.02. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.84 and a current ratio of 3.96.

Upbound Group (NASDAQ:UPBD) last posted its earnings results on Thursday, August 1st. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.03 by $0.01. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.03 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 earnings per share. Equities research analysts predict that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $1.48 annualized dividend and a yield of 4.43%. Upbound Group’s dividend payout ratio (DPR) is currently -321.74%.

Wall Street Analysts Forecast Growth

UPBD has been the subject of several research reports. Jefferies Financial Group decreased their price target on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, July 10th. BTIG Research started coverage on shares of Upbound Group in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.25.

Insiders Place Their Bets

In related news, Director Jeffrey J. Brown acquired 1,031 shares of the stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now owns 84,169 shares in the company, valued at approximately $2,509,919.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jeffrey J. Brown purchased 1,031 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, with a total value of $30,744.42. Following the completion of the transaction, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ralph T. Montrone sold 15,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction of $487,200.00. Following the sale, the executive vice president now directly owns 40,074 shares of the company’s stock, valued at $1,301,603.52. The disclosure for this sale can be found here. 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.