United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in United Parcel Service, Inc. (NYSE:UPS) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,092 shares of the transportation company’s stock after selling 8,329 shares during the period. Corebridge Financial Inc.’s holdings in United Parcel Service were worth $21,196,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in United Parcel Service during the fourth quarter worth approximately $393,680,000. Two Sigma Advisers LP raised its holdings in United Parcel Service by 833.4% during the third quarter. Two Sigma Advisers LP now owns 2,074,100 shares of the transportation company’s stock worth $282,783,000 after purchasing an additional 1,851,900 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of United Parcel Service by 77.7% during the 4th quarter. Van ECK Associates Corp now owns 3,150,901 shares of the transportation company’s stock worth $397,329,000 after buying an additional 1,378,136 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of United Parcel Service by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,264,665 shares of the transportation company’s stock valued at $2,933,674,000 after buying an additional 1,337,058 shares during the last quarter. Finally, Amundi raised its stake in United Parcel Service by 14.6% during the 4th quarter. Amundi now owns 10,040,863 shares of the transportation company’s stock worth $1,272,600,000 after acquiring an additional 1,277,328 shares in the last quarter. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UPS has been the subject of several research analyst reports. Raymond James decreased their price objective on shares of United Parcel Service from $155.00 to $145.00 and set a “strong-buy” rating for the company in a research note on Friday, January 31st. Citigroup dropped their price target on United Parcel Service from $158.00 to $149.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Robert W. Baird lowered United Parcel Service from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $160.00 to $130.00 in a research report on Friday, January 31st. UBS Group decreased their price objective on United Parcel Service from $170.00 to $141.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Truist Financial assumed coverage on shares of United Parcel Service in a report on Thursday, March 13th. They issued a “buy” rating and a $140.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $138.09.

United Parcel Service Trading Up 0.7 %

NYSE:UPS opened at $115.88 on Tuesday. The stock has a market capitalization of $98.98 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.55 and a beta of 0.94. United Parcel Service, Inc. has a 1 year low of $109.40 and a 1 year high of $157.99. The stock has a fifty day moving average price of $119.95 and a two-hundred day moving average price of $126.92. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17.

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, beating 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 in the prior year, the firm posted $2.47 earnings per share. As a group, sell-side analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.66%. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Tuesday, February 18th. United Parcel Service’s dividend payout ratio (DPR) is presently 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.