Associated Banc Corp Sells 2,340 Shares of Union Pacific Corporation (NYSE:UNP)

Key Points

• Associated Banc Corp reduced its stake in Union Pacific Corporation by 2.5%, now holding 89,503 shares valued at approximately $21.14 million.
• Union Pacific's stock price increased by 1.2%, with its current trading price at $222.03 and a market capitalization of $131.67 billion.
• The company announced a quarterly dividend increase to $1.38 per share, representing a 2.5% yield, and the subsequent payout is scheduled for September 30th.

Associated Banc Corp cut its stake in shares of Union Pacific Corporation (NYSE:UNP - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,503 shares of the railroad operator's stock after selling 2,340 shares during the quarter. Associated Banc Corp's holdings in Union Pacific were worth $21,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Highline Wealth Partners LLC raised its holdings in shares of Union Pacific by 103.5% during the first quarter. Highline Wealth Partners LLC now owns 116 shares of the railroad operator's stock valued at $27,000 after buying an additional 59 shares during the last quarter. EnRich Financial Partners LLC purchased a new stake in shares of Union Pacific during the fourth quarter valued at $31,000. Financial Gravity Asset Management Inc. acquired a new stake in Union Pacific during the 1st quarter worth about $32,000. Cornerstone Planning Group LLC boosted its holdings in shares of Union Pacific by 50.5% in the first quarter. Cornerstone Planning Group LLC now owns 167 shares of the railroad operator's stock worth $37,000 after buying an additional 56 shares during the period. Finally, Strategic Investment Solutions Inc. IL increased its position in shares of Union Pacific by 38.8% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 161 shares of the railroad operator's stock worth $39,000 after acquiring an additional 45 shares in the last quarter. 80.38% of the stock is currently owned by institutional investors and hedge funds.

Union Pacific Price Performance

Shares of UNP stock traded down $2.95 during trading hours on Thursday, hitting $222.51. The company had a trading volume of 3,113,711 shares, compared to its average volume of 5,311,982. The firm has a market capitalization of $131.96 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.20 and a beta of 1.05. The firm's fifty day moving average is $227.08 and its 200 day moving average is $230.58. Union Pacific Corporation has a 12 month low of $204.66 and a 12 month high of $258.07. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.53 and a current ratio of 0.65.

Union Pacific (NYSE:UNP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The railroad operator reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.19. The firm had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.09 billion. Union Pacific had a net margin of 28.43% and a return on equity of 41.73%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $2.74 EPS. On average, sell-side analysts predict that Union Pacific Corporation will post 11.99 EPS for the current fiscal year.

Union Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, August 29th will be paid a $1.38 dividend. This is an increase from Union Pacific's previous quarterly dividend of $1.34. This represents a $5.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, August 29th. Union Pacific's payout ratio is presently 46.57%.

Analyst Ratings Changes

A number of equities analysts recently commented on UNP shares. Argus raised shares of Union Pacific to a "strong-buy" rating in a research note on Friday, May 16th. Jefferies Financial Group upgraded shares of Union Pacific from a "hold" rating to a "buy" rating and upped their price objective for the company from $250.00 to $285.00 in a research note on Friday, July 25th. Stephens reduced their price objective on Union Pacific from $275.00 to $255.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Stifel Nicolaus dropped their target price on Union Pacific from $270.00 to $248.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley dropped their price target on shares of Union Pacific from $220.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $258.21.

About Union Pacific

Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables to grain processors, animal feeders, ethanol producers, renewable biofuel producers, and other agricultural users; and construction products, industrial chemicals, plastics, forest products, specialized products, metals and ores, petroleum, liquid petroleum gases, soda ash, and sand, as well as finished automobiles, automotive parts, and merchandise in intermodal containers.