Prio Wealth Limited Partnership Has $15.38 Million Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Prio Wealth Limited Partnership reduced its holdings in United Parcel Service, Inc. (NYSE:UPS) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 112,812 shares of the transportation company’s stock after selling 7,328 shares during the quarter. Prio Wealth Limited Partnership’s holdings in United Parcel Service were worth $15,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clearbridge Investments LLC increased its position in United Parcel Service by 6.5% in the 1st quarter. Clearbridge Investments LLC now owns 6,671,306 shares of the transportation company’s stock valued at $991,556,000 after acquiring an additional 406,248 shares during the period. Bank of New York Mellon Corp increased its position in United Parcel Service by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,490,712 shares of the transportation company’s stock valued at $888,254,000 after acquiring an additional 20,426 shares during the period. American Century Companies Inc. boosted its stake in shares of United Parcel Service by 10.5% in the 2nd quarter. American Century Companies Inc. now owns 4,144,372 shares of the transportation company’s stock valued at $567,157,000 after purchasing an additional 393,434 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of United Parcel Service by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,113,870 shares of the transportation company’s stock valued at $611,445,000 after purchasing an additional 101,349 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of United Parcel Service by 9.6% in the 1st quarter. Capital World Investors now owns 3,011,299 shares of the transportation company’s stock valued at $447,569,000 after purchasing an additional 263,313 shares during the last quarter. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on UPS. Susquehanna reduced their price objective on shares of United Parcel Service from $160.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Bank of America reduced their price objective on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Robert W. Baird reduced their price objective on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Citigroup began coverage on shares of United Parcel Service in a research note on Wednesday, October 9th. They issued a “buy” rating and a $162.00 price objective on the stock. Finally, UBS Group cut their target price on shares of United Parcel Service from $175.00 to $159.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, United Parcel Service currently has a consensus rating of “Moderate Buy” and an average price target of $151.24.

United Parcel Service Stock Down 2.2 %

Shares of United Parcel Service stock traded down $2.94 during trading hours on Monday, reaching $132.99. The company’s stock had a trading volume of 1,049,811 shares, compared to its average volume of 4,171,544. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82. The company has a market capitalization of $113.92 billion, a P/E ratio of 21.79, a P/E/G ratio of 2.00 and a beta of 0.99. The stock’s fifty day simple moving average is $130.21 and its two-hundred day simple moving average is $136.46. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The business had revenue of $21.82 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the business posted $2.54 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, research analysts forecast that United Parcel Service, Inc. will post 7.44 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.90%. United Parcel Service’s dividend payout ratio is currently 106.36%.

Insider Activity

In other news, Director William R. Johnson bought 5,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of $128.61 per share, for a total transaction of $643,050.00. Following the completion of the acquisition, the director now directly owns 5,160 shares in the company, valued at approximately $663,627.60. This trade represents a 3,100.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

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.