Atria Wealth Solutions Inc. Sells 8,634 Shares of United Parcel Service, Inc. (NYSE:UPS)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in United Parcel Service (UPS) by 17.8%, selling 8,634 shares during the first quarter, leaving them with 39,951 shares valued at approximately $4.39 million.
• Wall Street analysts have recently lowered target prices for UPS shares, with average estimates falling to $112.81, reflecting a consensus rating of "Hold" from the majority of analysts.
• UPS reported earnings per share of $1.55 for the last quarter, slightly missing projections and indicating a 2.7% decline in year-over-year revenue.

Atria Wealth Solutions Inc. lessened its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 17.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,951 shares of the transportation company's stock after selling 8,634 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in United Parcel Service were worth $4,394,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Empower Advisory Group LLC boosted its holdings in shares of United Parcel Service by 18.3% in the 1st quarter. Empower Advisory Group LLC now owns 971,981 shares of the transportation company's stock valued at $106,908,000 after buying an additional 150,160 shares during the period. Encompass More Asset Management grew its position in United Parcel Service by 117.9% during the first quarter. Encompass More Asset Management now owns 4,514 shares of the transportation company's stock valued at $496,000 after purchasing an additional 2,442 shares in the last quarter. Commonwealth Retirement Investments LLC grew its position in United Parcel Service by 20.7% in the first quarter. Commonwealth Retirement Investments LLC now owns 34,304 shares of the transportation company's stock worth $3,773,000 after acquiring an additional 5,884 shares in the last quarter. Cary Street Partners Financial LLC grew its position in United Parcel Service by 14.1% in the first quarter. Cary Street Partners Financial LLC now owns 40,090 shares of the transportation company's stock worth $4,409,000 after acquiring an additional 4,957 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of United Parcel Service by 6.8% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 81,946 shares of the transportation company's stock worth $9,013,000 after buying an additional 5,206 shares during the period. Institutional investors and hedge funds own 60.26% of the company's stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on UPS shares. BNP Paribas Exane raised shares of United Parcel Service from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a report on Thursday, July 3rd. Daiwa America lowered their target price on United Parcel Service from $120.00 to $103.00 in a research note on Wednesday, April 30th. Wolfe Research reduced their target price on United Parcel Service from $113.00 to $112.00 and set an "outperform" rating on the stock in a report on Tuesday, July 1st. Stephens cut their target price on United Parcel Service from $110.00 to $101.00 in a report on Wednesday, April 30th. Finally, BMO Capital Markets decreased their target price 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. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $112.81.

United Parcel Service Stock Performance

Shares of NYSE:UPS traded down $0.64 during trading on Monday, hitting $86.03. 2,996,420 shares of the company traded hands, compared to its average volume of 6,284,594. The stock has a market capitalization of $72.85 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.58 and a beta of 1.12. The business's fifty day moving average is $98.23 and its 200-day moving average is $104.23. United Parcel Service, Inc. has a one year low of $84.28 and a one year high of $145.01. 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 issued its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). The business had revenue of $21.20 billion during 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 business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.79 earnings per share. As a group, equities analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be issued a $1.64 dividend. The ex-dividend date is Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.6%. United Parcel Service's dividend payout ratio is presently 97.62%.

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.