Corebridge Financial Inc. Sells 2,210 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Corebridge Financial Inc. lowered its position in Upbound Group, Inc. (NASDAQ:UPBD) by 7.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,392 shares of the company’s stock after selling 2,210 shares during the period. Corebridge Financial Inc.’s holdings in Upbound Group were worth $828,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in UPBD. Point72 Asset Management L.P. acquired a new stake in Upbound Group during the 3rd quarter worth approximately $972,000. Quarry LP raised its holdings in shares of Upbound Group by 374.3% during the third quarter. Quarry LP now owns 3,282 shares of the company’s stock worth $105,000 after acquiring an additional 2,590 shares during the period. State Street Corp lifted its position in Upbound Group by 2.2% in the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company’s stock valued at $64,883,000 after acquiring an additional 43,814 shares in the last quarter. Wellington Management Group LLP boosted its stake in Upbound Group by 2,864.5% in the 3rd quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock worth $12,974,000 after purchasing an additional 391,888 shares during the period. Finally, Jane Street Group LLC increased its holdings in Upbound Group by 23.9% during the 3rd quarter. Jane Street Group LLC now owns 80,123 shares of the company’s stock worth $2,563,000 after purchasing an additional 15,473 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

Insider Activity

In other news, CFO Fahmi Karam bought 11,500 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey J. Brown purchased 1,146 shares of the stock in a transaction on Tuesday, January 7th. The shares were acquired at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the transaction, the director now owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Loop Capital cut their price target on Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Upbound Group Stock Performance

Shares of UPBD opened at $21.98 on Friday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.95 and a beta of 2.01. Upbound Group, Inc. has a 12 month low of $20.45 and a 12 month high of $38.72. The firm has a fifty day simple moving average of $26.60 and a 200 day simple moving average of $29.30. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08.

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

Upbound Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 7.10%. The ex-dividend date of this dividend is Wednesday, April 2nd. Upbound Group’s payout ratio is presently 70.59%.

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.