Ascent Group LLC Boosts Position in United Parcel Service, Inc. $UPS

Ascent Group LLC boosted its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 51.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,150 shares of the transportation company’s stock after acquiring an additional 11,969 shares during the quarter. Ascent Group LLC’s holdings in United Parcel Service were worth $3,548,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Bangor Savings Bank increased its position in United Parcel Service by 1.9% during the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company’s stock valued at $546,000 after acquiring an additional 101 shares during the last quarter. First Dallas Securities Inc. grew its holdings in United Parcel Service by 0.9% during the first quarter. First Dallas Securities Inc. now owns 11,421 shares of the transportation company’s stock valued at $1,256,000 after purchasing an additional 102 shares during the period. TCV Trust & Wealth Management Inc. grew its holdings in United Parcel Service by 1.4% during the first quarter. TCV Trust & Wealth Management Inc. now owns 7,544 shares of the transportation company’s stock valued at $830,000 after purchasing an additional 103 shares during the period. Fortis Capital Advisors LLC grew its holdings in United Parcel Service by 3.4% during the first quarter. Fortis Capital Advisors LLC now owns 3,185 shares of the transportation company’s stock valued at $350,000 after purchasing an additional 104 shares during the period. Finally, Wright Investors Service Inc. grew its holdings in United Parcel Service by 1.3% during the second quarter. Wright Investors Service Inc. now owns 7,861 shares of the transportation company’s stock valued at $793,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

UPS has been the subject of several recent research reports. Wall Street Zen lowered United Parcel Service from a “hold” rating to a “sell” rating in a report on Saturday, September 20th. Evercore ISI cut their price target on United Parcel Service from $103.00 to $97.00 and set an “in-line” rating for the company in a report on Wednesday, July 30th. Bank of America cut their price target on United Parcel Service from $83.00 to $81.00 and set an “underperform” rating for the company in a report on Friday, September 26th. Deutsche Bank Aktiengesellschaft cut their price target on United Parcel Service from $100.00 to $88.00 and set a “hold” rating for the company in a report on Thursday. Finally, Morgan Stanley dropped their price objective on United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $110.16.

Insider Transactions at United Parcel Service

In other United Parcel Service news, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction dated Friday, August 1st. The stock was bought at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the acquisition, the chief executive officer owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. The trade was a 89.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christiana Smith Shi acquired 500 shares of United Parcel Service stock in a transaction dated Friday, August 22nd. The shares were acquired at an average cost of $88.17 per share, with a total value of $44,085.00. Following the completion of the acquisition, the director directly owned 500 shares in the company, valued at $44,085. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 17,182 shares of company stock valued at $1,477,382. Company insiders own 0.13% of the company’s stock.

United Parcel Service Price Performance

Shares of United Parcel Service stock opened at $86.79 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $145.01. The firm has a fifty day moving average price of $86.20 and a two-hundred day moving average price of $95.32. The company has a market cap of $73.56 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.90 billion. During the same period last year, the company earned $1.79 earnings per share. United Parcel Service’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend was Monday, August 18th. United Parcel Service’s dividend payout ratio (DPR) is presently 97.62%.

About United Parcel Service

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.