Principal Financial Group Inc. Sells 9,302 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Principal Financial Group Inc. lessened its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 3.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 231,053 shares of the company’s stock after selling 9,302 shares during the quarter. Principal Financial Group Inc.’s holdings in Upbound Group were worth $7,391,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CoreCap Advisors LLC acquired a new position in Upbound Group during the 2nd quarter worth approximately $606,000. Interval Partners LP grew its position in Upbound Group by 155.1% during the first quarter. Interval Partners LP now owns 96,131 shares of the company’s stock valued at $3,385,000 after buying an additional 58,442 shares during the period. Vanguard Group Inc. increased its stake in shares of Upbound Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock worth $211,453,000 after purchasing an additional 209,422 shares during the last quarter. SG Capital Management LLC bought a new position in Upbound Group during the first quarter valued at $12,198,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Upbound Group in the 2nd quarter valued at about $89,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Stephens began coverage on shares of Upbound Group in a report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 target price on the stock. Loop Capital cut 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. Finally, Jefferies Financial Group decreased their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Upbound Group currently has an average rating of “Moderate Buy” and a consensus price target of $39.17.

Insider Buying and Selling at Upbound Group

In related news, Director Jeffrey J. Brown purchased 1,065 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was purchased at an average price of $29.25 per share, with a total value of $31,151.25. Following the transaction, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. This trade represents a 1.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 14,651 shares in the company, valued at approximately $498,134. This represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Upbound Group Trading Down 0.7 %

Shares of UPBD opened at $32.41 on Wednesday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 22.35 and a beta of 2.01. The firm has a fifty day simple moving average of $30.23 and a two-hundred day simple moving average of $31.52. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. Upbound Group, Inc. has a twelve month low of $26.50 and a twelve month high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, beating 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 company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, research analysts anticipate that Upbound Group, Inc. will post 3.79 EPS for the current 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 paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Tuesday, October 1st. Upbound Group’s payout ratio is presently 102.07%.

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.