Associated Banc Corp Has $8.78 Million Holdings in United Parcel Service, Inc. (NYSE:UPS)

Key Points

• Associated Banc Corp increased its stake in United Parcel Service by 9.1%, owning 79,845 shares worth approximately $8.78 million as of the end of the first quarter.
• Several institutional investors significantly boosted their holdings in UPS, with Pacer Advisors increasing its stake by over 1,056% to nearly 4.34 million shares.
• UPS recently missed analysts' earnings expectations for the quarter, reporting $1.55 earnings per share, falling short of the consensus of $1.56.

Associated Banc Corp increased its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,845 shares of the transportation company's stock after purchasing an additional 6,675 shares during the quarter. Associated Banc Corp's holdings in United Parcel Service were worth $8,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UPS. Gallacher Capital Management LLC bought a new position in shares of United Parcel Service during the first quarter valued at $620,000. Garde Capital Inc. bought a new position in shares of United Parcel Service during the first quarter valued at $37,000. Golden State Wealth Management LLC lifted its holdings in shares of United Parcel Service by 61.3% during the first quarter. Golden State Wealth Management LLC now owns 1,576 shares of the transportation company's stock valued at $173,000 after acquiring an additional 599 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of United Parcel Service by 5.9% during the first quarter. CWA Asset Management Group LLC now owns 3,467 shares of the transportation company's stock valued at $381,000 after acquiring an additional 193 shares during the period. Finally, Advisor Resource Council bought a new position in shares of United Parcel Service during the first quarter valued at $437,000. 60.26% of the stock is owned by institutional investors.

United Parcel Service Stock Performance

UPS traded up $1.77 during trading hours on Tuesday, reaching $86.79. The company's stock had a trading volume of 9,497,564 shares, compared to its average volume of 7,697,040. United Parcel Service, Inc. has a 52 week low of $84.28 and a 52 week high of $145.01. The company's 50-day moving average is $98.89 and its 200-day moving average is $105.38. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.09 and a current ratio of 1.32. The firm has a market cap of $73.49 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.55 and a beta of 1.12.

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 the consensus estimate of $1.56 by ($0.01). The firm had revenue of $21.20 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.79 EPS. On average, equities 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 was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were given a dividend of $1.64 per share. The ex-dividend date was Monday, May 19th. This represents a $6.56 annualized dividend and a yield of 7.6%. United Parcel Service's dividend payout ratio (DPR) is presently 97.62%.

Insider Buying and Selling at United Parcel Service

In other news, Director William R. Johnson acquired 5,000 shares of the stock in a transaction on Thursday, July 31st. The shares were purchased 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 of the company's stock, valued at approximately $878,840. This represents a 96.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carol B. Tome acquired 11,682 shares of the stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following 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 disclosure for this purchase can be found here. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Redburn Atlantic cut their price target on United Parcel Service from $137.00 to $117.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Daiwa America lowered their price objective on United Parcel Service from $120.00 to $103.00 in a research report on Wednesday, April 30th. TD Cowen lowered their price objective on United Parcel Service from $117.00 to $107.00 in a research report on Wednesday, April 30th. Susquehanna decreased their target price on United Parcel Service from $110.00 to $100.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Finally, Loop Capital decreased their target price on United Parcel Service from $115.00 to $105.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, United Parcel Service currently has a consensus rating of "Hold" and an average target price of $112.81.

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.