Louisiana State Employees Retirement System Raises Stock Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Louisiana State Employees Retirement System lifted its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,500 shares of the company’s stock after buying an additional 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Upbound Group were worth $752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in Upbound Group by 232.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock valued at $58,000 after buying an additional 1,146 shares during the last quarter. GSA Capital Partners LLP bought a new position in Upbound Group in the 1st quarter valued at approximately $627,000. Texas Permanent School Fund Corp grew its stake in shares of Upbound Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 38,965 shares of the company’s stock worth $1,372,000 after acquiring an additional 522 shares during the period. LSV Asset Management grew its holdings in shares of Upbound Group by 43.0% in the first quarter. LSV Asset Management now owns 1,693,695 shares of the company’s stock worth $59,635,000 after acquiring an additional 509,343 shares during the period. Finally, Quantbot Technologies LP bought a new position in Upbound Group in the first quarter worth approximately $330,000. Institutional investors own 90.30% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jeffrey J. Brown purchased 1,065 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, with a total value of $31,151.25. Following the acquisition, the director now owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at approximately $498,134. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey J. Brown bought 1,065 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the acquisition, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

Upbound Group Price Performance

UPBD opened at $30.07 on Tuesday. The firm has a market capitalization of $1.64 billion, a PE ratio of 20.74 and a beta of 2.01. The business’s 50-day moving average is $30.19 and its two-hundred day moving average is $31.43. Upbound Group, Inc. has a 1 year low of $26.50 and a 1 year high of $38.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.96 and a quick ratio of 0.84.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. Upbound Group’s revenue was up 9.2% compared to the same quarter last year. Research analysts anticipate that Upbound Group, Inc. will post 3.67 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group’s dividend payout ratio (DPR) is 102.07%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on UPBD shares. Jefferies Financial Group lowered their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Loop Capital lowered their price objective on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

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.