Sumitomo Life Insurance Co. Sells 6,679 Shares of United Parcel Service, Inc. (NYSE:UPS)

Sumitomo Life Insurance Co. decreased its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 56.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,178 shares of the transportation company's stock after selling 6,679 shares during the period. Sumitomo Life Insurance Co.'s holdings in United Parcel Service were worth $570,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of UPS. Norges Bank bought a new stake in shares of United Parcel Service during the 4th quarter worth approximately $1,075,393,000. Franklin Resources Inc. increased its position in shares of United Parcel Service by 15.6% in the fourth quarter. Franklin Resources Inc. now owns 10,979,909 shares of the transportation company's stock worth $1,384,567,000 after purchasing an additional 1,484,452 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of United Parcel Service in the fourth quarter worth $145,846,000. Price T Rowe Associates Inc. MD grew its position in United Parcel Service by 19.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,463,930 shares of the transportation company's stock valued at $815,102,000 after acquiring an additional 1,064,293 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in United Parcel Service by 316.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,122,886 shares of the transportation company's stock valued at $141,581,000 after acquiring an additional 853,388 shares during the last quarter. Institutional investors own 60.26% of the company's stock.

United Parcel Service Price Performance

Shares of NYSE:UPS traded up $0.10 on Wednesday, hitting $99.63. The company's stock had a trading volume of 4,780,471 shares, compared to its average volume of 5,255,905. The company has a 50-day simple moving average of $99.74 and a 200 day simple moving average of $108.51. United Parcel Service, Inc. has a 1 year low of $90.55 and a 1 year high of $148.15. The company has a market capitalization of $84.36 billion, a PE ratio of 14.52, a PEG ratio of 1.91 and a beta of 1.21. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The firm had revenue of $21.50 billion for the quarter, compared to analysts' expectations of $21.25 billion. During the same quarter last year, the firm posted $1.43 EPS. The company's revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Monday, May 19th were issued a $1.64 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.56 annualized dividend and a dividend yield of 6.58%. United Parcel Service's payout ratio is currently 95.63%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Susquehanna cut their price objective on United Parcel Service from $120.00 to $110.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen downgraded United Parcel Service from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. BNP Paribas upgraded United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. Citigroup upped their price target on United Parcel Service from $122.00 to $127.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Stifel Nicolaus reduced their price objective on United Parcel Service from $145.00 to $124.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $119.13.

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.