The Manufacturers Life Insurance Company Has $62.25 Million Position in United Parcel Service, Inc. $UPS

Key Points

• The Manufacturers Life Insurance Company sold 40,949 shares of United Parcel Service, reducing its holding by 6.7%, leaving it with approximately 565,946 shares valued at $62.2 million.
• United Parcel Service reported quarterly earnings of $1.55 EPS, slightly missing the estimate, while revenues were at $21.2 billion, exceeding expectations but down 2.7% year-over-year.
• The company declared a $1.64 quarterly dividend with a yield of 7.5%, and its current payout ratio is 97.62%.

The Manufacturers Life Insurance Company decreased its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 565,946 shares of the transportation company's stock after selling 40,949 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of United Parcel Service worth $62,248,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Gallacher Capital Management LLC bought a new position in United Parcel Service in the first quarter valued at about $620,000. Garde Capital Inc. bought a new position in United Parcel Service during the first quarter worth about $37,000. Golden State Wealth Management LLC boosted its holdings in 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 worth $173,000 after buying an additional 599 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in 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 worth $381,000 after buying an additional 193 shares during the last quarter. Finally, Advisor Resource Council bought a new position in United Parcel Service during the first quarter worth about $437,000. Institutional investors own 60.26% of the company's stock.

United Parcel Service Stock Up 0.3%

UPS stock traded up $0.27 during mid-day trading on Friday, reaching $87.54. The company had a trading volume of 6,834,049 shares, compared to its average volume of 8,057,620. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a 50 day simple moving average of $94.68 and a two-hundred day simple moving average of $100.91. The company has a market capitalization of $74.20 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.60 and a beta of 1.08. United Parcel Service, Inc. has a 52 week low of $84.28 and a 52 week high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last posted 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). The company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The firm's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business 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 paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Monday, August 18th. United Parcel Service's payout ratio is currently 97.62%.

Insider Transactions at United Parcel Service

In other United Parcel Service news, CEO Carol B. Tome bought 11,682 shares of United Parcel Service stock in a transaction dated Friday, August 1st. The stock was bought at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Johnson bought 5,000 shares of United Parcel Service stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director directly owned 10,160 shares in the company, valued at $878,840. This trade represents a 96.90% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. 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. Oppenheimer reduced their target price on United Parcel Service from $114.00 to $100.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Susquehanna reduced their target price on United Parcel Service from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Wednesday, July 30th. Truist Financial dropped their price target on United Parcel Service from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, Wall Street Zen lowered United Parcel Service from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $112.81.

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.