PNC Financial Services Group Inc. Purchases 429 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

PNC Financial Services Group Inc. grew its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 12.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,785 shares of the company’s stock after buying an additional 429 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Upbound Group were worth $110,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in Upbound Group in the fourth quarter valued at $25,000. Blue Trust Inc. lifted its position in shares of Upbound Group by 45.0% in the 4th quarter. Blue Trust Inc. now owns 2,271 shares of the company’s stock worth $73,000 after purchasing an additional 705 shares during the period. Quarry LP boosted its stake in shares of Upbound Group by 374.3% during the 3rd quarter. Quarry LP now owns 3,282 shares of the company’s stock valued at $105,000 after purchasing an additional 2,590 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Upbound Group during the third quarter valued at about $229,000. Finally, Blueshift Asset Management LLC bought a new position in Upbound Group in the third quarter worth about $232,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Upbound Group

In other news, CFO Fahmi Karam acquired 11,500 shares of Upbound Group stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $25.82 per share, for a total transaction of $296,930.00. Following the purchase, the chief financial officer now owns 164,672 shares in the company, valued at $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey J. Brown bought 1,146 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was purchased at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the purchase, the director now owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. This represents a 1.34 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is owned by insiders.

Upbound Group Price Performance

Shares of UPBD opened at $24.80 on Wednesday. Upbound Group, Inc. has a fifty-two week low of $23.35 and a fifty-two week high of $38.72. The firm’s 50-day simple moving average is $27.54 and its two-hundred day simple moving average is $29.67. The stock has a market cap of $1.42 billion, a PE ratio of 11.22 and a beta of 2.01. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.86 and a current ratio of 3.66.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $1.56 annualized dividend and a dividend yield of 6.29%. Upbound Group’s payout ratio is presently 70.59%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on UPBD shares. TD Cowen upgraded Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Loop Capital dropped their price target on Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Upbound Group presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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.