Allstate Corp Makes New $2.74 Million Investment in United Parcel Service, Inc. (NYSE:UPS)

Allstate Corp acquired a new stake in United Parcel Service, Inc. (NYSE:UPS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,701 shares of the transportation company’s stock, valued at approximately $2,736,000.

Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. acquired a new position in United Parcel Service during the 4th quarter worth approximately $25,000. Generali Investments Management Co LLC purchased a new position in shares of United Parcel Service in the fourth quarter valued at $26,000. True Wealth Design LLC grew its holdings in United Parcel Service by 397.7% during the 3rd quarter. True Wealth Design LLC now owns 214 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 171 shares in the last quarter. IFS Advisors LLC increased its stake in United Parcel Service by 232.3% during the 4th quarter. IFS Advisors LLC now owns 216 shares of the transportation company’s stock worth $27,000 after buying an additional 151 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new position in United Parcel Service in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on UPS shares. Truist Financial started coverage on United Parcel Service in a research report on Thursday, March 13th. They set a “buy” rating and a $140.00 target price on the stock. Wolfe Research raised United Parcel Service from a “peer perform” rating to an “outperform” rating and set a $147.00 target price on the stock in a research report on Wednesday, January 8th. BMO Capital Markets upgraded shares of United Parcel Service from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $155.00 to $150.00 in a research note on Tuesday, December 10th. Baird R W downgraded shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Loop Capital cut their target price on shares of United Parcel Service from $120.00 to $115.00 and set a “hold” rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, United Parcel Service has an average rating of “Moderate Buy” and a consensus price target of $137.57.

United Parcel Service Trading Down 1.2 %

United Parcel Service stock opened at $109.66 on Friday. The firm has a 50-day moving average price of $118.52 and a two-hundred day moving average price of $126.42. United Parcel Service, Inc. has a 52-week low of $109.40 and a 52-week high of $154.29. The firm has a market capitalization of $93.66 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.55 and a beta of 0.94. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data 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 return on equity of 39.13% and a net margin of 6.35%. During the same period last year, the business posted $2.47 earnings per share. Sell-side analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were paid a dividend of $1.64 per share. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend was Tuesday, February 18th. United Parcel Service’s payout ratio is currently 97.04%.

About United Parcel Service

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.