Ascent Group LLC Invests $2.55 Million in United Parcel Service, Inc. $UPS

Key Points

• Ascent Group LLC has invested approximately $2.55 million in United Parcel Service, acquiring 23,181 shares, reflecting growing institutional interest in the stock.
• United Parcel Service CEO Carol B. Tome increased her ownership by purchasing 11,682 shares for about $1 million, indicating executive confidence in the company.
• Analysts have recently downgraded UPS's price targets, with a consensus average target of $112.81, suggesting cautious sentiment moving forward.

Ascent Group LLC bought a new stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,181 shares of the transportation company's stock, valued at approximately $2,550,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graybill Wealth Management LTD. acquired a new position in shares of United Parcel Service during the first quarter worth $26,000. Pinney & Scofield Inc. acquired a new stake in shares of United Parcel Service during the 4th quarter worth about $27,000. Citizens National Bank Trust Department raised its position in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock worth $27,000 after acquiring an additional 210 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in United Parcel Service during the fourth quarter worth approximately $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in United Parcel Service in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 60.26% of the company's stock.

Insiders Place Their Bets

In other news, CEO Carol B. Tome acquired 11,682 shares of United Parcel Service stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the transaction, the chief executive officer directly owned 24,718 shares in the company, valued at approximately $2,117,591.06. This trade represents a 89.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Johnson bought 5,000 shares of the company's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the transaction, the director directly owned 10,160 shares in the company, valued at $878,840. This trade represents a 96.90% increase in their position. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

UPS has been the topic of a number of research analyst reports. Truist Financial cut their price objective on shares of United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. BMO Capital Markets cut their price target on shares of United Parcel Service from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Citigroup decreased their price objective 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. Daiwa America dropped their price objective on United Parcel Service from $120.00 to $103.00 in a report on Wednesday, April 30th. Finally, TD Cowen reduced their target price on United Parcel Service from $117.00 to $107.00 in a report on Wednesday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $112.81.

United Parcel Service Stock Performance

Shares of UPS stock opened at $88.7140 on Friday. The stock has a market capitalization of $75.19 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.63 and a beta of 1.12. United Parcel Service, Inc. has a 52-week low of $84.28 and a 52-week high of $145.01. The stock's 50-day moving average price is $95.89 and its 200 day moving average price is $101.93. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The firm's revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.79 earnings per share. As a group, equities research analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 18th will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend is Monday, August 18th. United Parcel Service's payout ratio is currently 97.62%.

United Parcel Service 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.

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