United Parcel Service, Inc. (NYSE:UPS) Shares Acquired by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. increased its stake in United Parcel Service, Inc. (UPS) by 82.1% in Q1, owning 12,204 shares valued at approximately $1.34 million.
• Other hedge funds also bolstered their positions in UPS, with Brighton Jones LLC raising its stake by 63.8% in the previous quarter, demonstrating strong institutional confidence in the stock.
• UPS recently announced a quarterly dividend of $1.64 per share, reflecting a 7.6% yield, while the company reported a slight revenue decline compared to the same quarter last year.

iA Global Asset Management Inc. raised its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 82.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,204 shares of the transportation company's stock after buying an additional 5,501 shares during the quarter. iA Global Asset Management Inc.'s holdings in United Parcel Service were worth $1,342,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of UPS. Northern Trust Corp lifted its position in United Parcel Service by 9.6% in the fourth quarter. Northern Trust Corp now owns 7,391,605 shares of the transportation company's stock valued at $932,081,000 after buying an additional 648,539 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of United Parcel Service by 19.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,463,930 shares of the transportation company's stock worth $815,102,000 after purchasing an additional 1,064,293 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of United Parcel Service by 1,056.6% during the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company's stock worth $476,936,000 after purchasing an additional 3,961,255 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of United Parcel Service by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,623,209 shares of the transportation company's stock worth $456,870,000 after purchasing an additional 200,169 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of United Parcel Service by 21.4% during the fourth quarter. Deutsche Bank AG now owns 2,464,742 shares of the transportation company's stock worth $310,804,000 after purchasing an additional 434,510 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Price Performance

Shares of UPS stock traded up $0.16 during mid-day trading on Friday, reaching $86.65. The stock had a trading volume of 6,275,090 shares, compared to its average volume of 8,095,052. 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 $73.38 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 1.57 and a beta of 1.12. The business has a 50-day simple moving average of $98.23 and a 200 day simple moving average of $104.63. The company has a current ratio of 1.32, a quick ratio of 1.09 and a debt-to-equity ratio of 1.51.

United Parcel Service (NYSE:UPS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share 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 firm had revenue of $21.20 billion during the quarter, compared to analysts' expectations of $20.90 billion. During the same quarter in the prior year, the business earned $1.79 EPS. The company's quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Monday, August 18th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Monday, August 18th. United Parcel Service's dividend payout ratio (DPR) is currently 97.62%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on UPS shares. Wall Street Zen cut shares of United Parcel Service from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. DA Davidson reduced their price target on shares of United Parcel Service from $154.00 to $150.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Galvan Research reduced their price target on shares of United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a research report on Monday, June 30th. TD Cowen reduced their price target on shares of United Parcel Service from $117.00 to $107.00 in a research report on Wednesday, April 30th. Finally, Stifel Canada cut their target price on shares of United Parcel Service from $145.00 to $124.00 in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, United Parcel Service has a consensus rating of "Hold" and a consensus target price of $112.81.

Insider Transactions at United Parcel Service

In related news, CEO Carol B. Tome acquired 11,682 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was 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 owned 24,718 shares in the company, valued at $2,117,591.06. This trade represents a 89.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Johnson acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $86.50 per share, with a total value of $432,500.00. Following the transaction, the director owned 10,160 shares in the company, valued at $878,840. This represents a 96.90% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.13% of the company's stock.

United Parcel Service 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.