Assenagon Asset Management S.A. Reduces Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Assenagon Asset Management S.A. cut its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 64.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 285,120 shares of the transportation company's stock after selling 520,030 shares during the quarter. Assenagon Asset Management S.A.'s holdings in United Parcel Service were worth $31,360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in UPS. IMG Wealth Management Inc. purchased a new position in shares of United Parcel Service in the 4th quarter valued at $25,000. Generali Investments Management Co LLC purchased a new position in shares of United Parcel Service in the 4th quarter valued at $26,000. Pinney & Scofield Inc. purchased a new position in shares of United Parcel Service in the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of United Parcel Service in the 4th quarter worth $28,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of United Parcel Service in the 4th quarter worth $30,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

United Parcel Service Price Performance

Shares of United Parcel Service stock traded down $1.03 on Friday, hitting $99.89. The company's stock had a trading volume of 4,237,986 shares, compared to its average volume of 5,181,579. United Parcel Service, Inc. has a 1 year low of $90.55 and a 1 year high of $148.15. The firm has a fifty day moving average price of $97.49 and a 200-day moving average price of $112.68. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17. The company has a market capitalization of $84.58 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. The company had revenue of $21.50 billion during the quarter, compared to analyst estimates of $21.25 billion. During the same period in the previous year, the business earned $1.43 EPS. United Parcel Service's quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were paid a dividend of $1.64 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.56 annualized dividend and a yield of 6.57%. United Parcel Service's dividend payout ratio (DPR) is currently 95.63%.

Analysts Set New Price Targets

UPS has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price objective on United Parcel Service from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company reissued an "equal weight" rating and issued a $98.00 price objective (down previously from $120.00) on shares of United Parcel Service in a research report on Tuesday, April 22nd. Hsbc Global Res cut United Parcel Service from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. UBS Group lowered their price objective on United Parcel Service from $141.00 to $127.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Finally, Truist Financial lowered their price objective on United Parcel Service from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $120.26.

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.