Corebridge Financial Inc. Lowers Stock Holdings in United Parcel Service, Inc. $UPS

Key Points

• Corebridge Financial Inc. reduced its holdings in United Parcel Service, Inc. (UPS) by 3.0% in the first quarter, now owning 163,121 shares valued at approximately $17.94 million.
• Insider activity is notable as both Director William R. Johnson and CEO Carol B. Tome significantly increased their respective shares, acquiring 5,000 and 11,682 shares, indicating strong confidence in the company's prospects.
• UPS announced a quarterly dividend of $1.64 per share, to be paid on September 4th, which reflects an annualized dividend yield of 7.5% and a payout ratio of 97.62%.

Corebridge Financial Inc. trimmed its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 163,121 shares of the transportation company's stock after selling 4,971 shares during the period. Corebridge Financial Inc.'s holdings in United Parcel Service were worth $17,942,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in UPS. Graybill Wealth Management LTD. purchased a new position in shares of United Parcel Service during the first quarter valued at approximately $26,000. Pinney & Scofield Inc. purchased a new position in United Parcel Service in the 4th quarter worth approximately $27,000. Citizens National Bank Trust Department raised its holdings in United Parcel Service by 525.0% in 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 during the last quarter. Fourth Dimension Wealth LLC purchased a new position in United Parcel Service in the 4th quarter worth approximately $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in United Parcel Service in the 4th quarter worth approximately $31,000. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other United Parcel Service news, Director William R. Johnson acquired 5,000 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was purchased 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 in the company, valued at approximately $878,840. The trade was a 96.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Carol B. Tome acquired 11,682 shares of the business's stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the transaction, the chief executive officer 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. Insiders own 0.13% of the company's stock.

United Parcel Service Trading Down 1.2%

NYSE:UPS opened at $87.75 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service, Inc. has a 12 month low of $84.28 and a 12 month high of $145.01. The company has a market cap of $74.37 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.63 and a beta of 1.12. The company has a 50 day simple moving average of $95.62 and a two-hundred day simple moving average of $101.67.

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). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same period in the previous year, the firm earned $1.79 EPS. The company's revenue was down 2.7% on a year-over-year basis. Research analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 7.5%. United Parcel Service's payout ratio is presently 97.62%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on UPS shares. 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 report on Thursday, July 31st. Truist Financial decreased their price objective on shares of United Parcel Service from $130.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Bernstein Bank boosted their price objective on shares of United Parcel Service from $132.00 to $133.00 in a report on Wednesday, April 30th. Redburn Atlantic decreased their price objective on shares of United Parcel Service from $137.00 to $117.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Daiwa America decreased their price objective on shares of United Parcel Service from $120.00 to $103.00 in a report on Wednesday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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.

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