United Parcel Service, Inc. $UPS Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its stake in United Parcel Service (UPS) by 443.6% during Q2, owning over 1.5 million shares valued at approximately $156.5 million.
• The stock received mixed feedback from analysts, with target prices reduced by several firms, leading to a consensus target price of $111.44 and an average rating of "Hold."
• United Parcel Service's recent earnings report revealed a slight miss on EPS estimates, with earnings at $1.55 per share against an expected $1.56, while quarterly revenue was noted at $21.2 billion.

Assenagon Asset Management S.A. lifted its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 443.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,549,962 shares of the transportation company's stock after buying an additional 1,264,842 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.18% of United Parcel Service worth $156,453,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in UPS. Juncture Wealth Strategies LLC boosted its holdings in United Parcel Service by 2.5% in the first quarter. Juncture Wealth Strategies LLC now owns 4,124 shares of the transportation company's stock valued at $454,000 after purchasing an additional 101 shares in the last quarter. Bangor Savings Bank boosted its holdings in United Parcel Service by 1.9% in the second quarter. Bangor Savings Bank now owns 5,413 shares of the transportation company's stock valued at $546,000 after purchasing an additional 101 shares in the last quarter. First Dallas Securities Inc. boosted its holdings in United Parcel Service by 0.9% in 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 in the last quarter. TCV Trust & Wealth Management Inc. boosted its holdings in United Parcel Service by 1.4% in 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 in the last quarter. Finally, Fortis Capital Advisors LLC boosted its holdings in United Parcel Service by 3.4% in 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 in the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on UPS shares. Bank of America reaffirmed an "underperform" rating and issued a $83.00 price target (down from $91.00) on shares of United Parcel Service in a report on Thursday, September 11th. Galvan Research reduced their price objective on United Parcel Service from $126.00 to $124.00 and set a "buy" rating for the company in a research note on Monday, June 30th. Susquehanna reduced their price objective on United Parcel Service from $110.00 to $100.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. BMO Capital Markets reiterated a "market perform" rating and issued a $96.00 price objective (down previously from $125.00) on shares of United Parcel Service in a research note on Friday. Finally, Evercore ISI reduced their price objective on United Parcel Service from $103.00 to $97.00 and set an "in-line" rating for the company in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $111.44.

United Parcel Service Stock Performance

Shares of United Parcel Service stock traded up $0.37 during trading hours on Monday, hitting $84.43. 7,811,486 shares of the company were exchanged, compared to its average volume of 6,691,204. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $145.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. The business has a 50-day moving average of $89.48 and a 200-day moving average of $97.50. The stock has a market capitalization of $71.56 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 1.55 and a beta of 1.08.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly 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 company had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.90 billion. During the same quarter last year, the company earned $1.79 EPS. United Parcel Service's revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 7.8%. The ex-dividend date was Monday, August 18th. United Parcel Service's dividend payout ratio is 97.62%.

Insiders Place Their Bets

In other United Parcel Service news, Director Christiana Smith Shi acquired 500 shares of the business's stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $88.17 per share, for a total transaction of $44,085.00. Following the completion of the transaction, the director owned 500 shares of the company's stock, valued at $44,085. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Johnson acquired 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director directly owned 10,160 shares of the company's stock, valued at $878,840. This represents a 96.90% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is owned by corporate insiders.

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.