Confluence Wealth Services Inc. Purchases 720 Shares of United Parcel Service, Inc. $UPS

Confluence Wealth Services Inc. boosted its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 11.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,909 shares of the transportation company’s stock after buying an additional 720 shares during the quarter. Confluence Wealth Services Inc.’s holdings in United Parcel Service were worth $697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Founders Capital Management LLC raised its holdings in shares of United Parcel Service by 8.3% in the 2nd quarter. Founders Capital Management LLC now owns 111,405 shares of the transportation company’s stock valued at $11,245,000 after purchasing an additional 8,579 shares during the period. Gallacher Capital Management LLC acquired a new position in United Parcel Service during the first quarter worth approximately $620,000. Garde Capital Inc. bought a new stake in United Parcel Service in the first quarter valued at approximately $37,000. Capital CS Group LLC lifted its position in shares of United Parcel Service by 3.6% in the second quarter. Capital CS Group LLC now owns 235,090 shares of the transportation company’s stock valued at $23,730,000 after buying an additional 8,070 shares during the last quarter. Finally, CX Institutional boosted its stake in shares of United Parcel Service by 39.9% during the 2nd quarter. CX Institutional now owns 60,165 shares of the transportation company’s stock worth $6,073,000 after acquiring an additional 17,152 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Susquehanna dropped their price target on United Parcel Service from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. decreased their price objective on shares of United Parcel Service from $110.00 to $107.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Citigroup cut their target price on shares of United Parcel Service from $127.00 to $114.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. UBS Group reduced their target price on shares of United Parcel Service from $118.00 to $110.00 and set a “buy” rating for the company in a report on Friday. Finally, Evercore ISI lowered their price target on shares of United Parcel Service from $103.00 to $97.00 and set an “in-line” rating on the stock in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, United Parcel Service currently has a consensus rating of “Hold” and an average price target of $110.16.

United Parcel Service Price Performance

Shares of United Parcel Service stock opened at $86.61 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $73.41 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. United Parcel Service, Inc. has a twelve month low of $82.00 and a twelve month high of $145.01. The company has a 50-day simple moving average of $85.91 and a two-hundred day simple moving average of $94.97.

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

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were issued a $1.64 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.6%. United Parcel Service’s payout ratio is currently 97.62%.

Insider Transactions at United Parcel Service

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

United Parcel Service Company Profile

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.