ProVise Management Group LLC Reduces Stock Position in United Parcel Service, Inc. (NYSE:UPS)

ProVise Management Group LLC reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,567 shares of the transportation company’s stock after selling 373 shares during the quarter. ProVise Management Group LLC’s holdings in United Parcel Service were worth $2,846,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of United Parcel Service by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock valued at $113,064,000 after buying an additional 33,989 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new stake in United Parcel Service in the 4th quarter worth approximately $461,000. Synovus Financial Corp lifted its stake in United Parcel Service by 8.6% in the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock worth $11,934,000 after purchasing an additional 6,941 shares in the last quarter. HF Advisory Group LLC purchased a new stake in United Parcel Service in the 4th quarter worth approximately $1,305,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in United Parcel Service by 27.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock worth $16,304,000 after purchasing an additional 28,108 shares in the last quarter. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

United Parcel Service Price Performance

Shares of United Parcel Service stock opened at $118.85 on Wednesday. The firm has a market cap of $101.51 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94. United Parcel Service, Inc. has a 12-month low of $109.40 and a 12-month high of $158.95. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. The company’s fifty day simple moving average is $120.67 and its two-hundred day simple moving average is $127.25.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same period last year, the firm posted $2.47 EPS. As a group, equities analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 5.52%. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date was Tuesday, February 18th. United Parcel Service’s dividend payout ratio (DPR) is currently 97.04%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UPS shares. Evercore ISI increased their target price on shares of United Parcel Service from $141.00 to $147.00 and gave the stock an “in-line” rating in a research note on Wednesday, January 22nd. UBS Group lowered their target price on shares of United Parcel Service from $170.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Loop Capital decreased their price target on shares of United Parcel Service from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of United Parcel Service from $135.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, Robert W. Baird lowered shares of United Parcel Service from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $130.00 in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.09.

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.