Independence Asset Advisors LLC Takes Position in United Parcel Service, Inc. $UPS

Independence Asset Advisors LLC purchased a new position in shares of United Parcel Service, Inc. (NYSE:UPS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 26,231 shares of the transportation company’s stock, valued at approximately $2,648,000. United Parcel Service makes up approximately 1.6% of Independence Asset Advisors LLC’s portfolio, making the stock its 7th biggest position.

Several other large investors have also bought and sold shares of UPS. Goldman Sachs Group Inc. increased its stake in United Parcel Service by 124.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company’s stock valued at $991,132,000 after buying an additional 4,988,044 shares during the last quarter. Pacer Advisors Inc. lifted its stake in United Parcel Service by 1,056.6% in the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock valued at $476,936,000 after purchasing an additional 3,961,255 shares during the last quarter. Nuveen LLC bought a new position in United Parcel Service during the first quarter valued at $201,358,000. Charles Schwab Investment Management Inc. increased its position in United Parcel Service by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock worth $2,754,751,000 after buying an additional 1,780,807 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of United Parcel Service by 443.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock valued at $156,453,000 after buying an additional 1,264,842 shares during the period. 60.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Carol B. Tome purchased 11,682 shares of the stock in a transaction on Friday, August 1st. The shares were acquired at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the transaction, the chief executive officer directly owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. This trade represents a 89.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Johnson acquired 5,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was purchased at an average price of $86.50 per share, with a total value of $432,500.00. Following the completion of the acquisition, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This represents a 96.90% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 17,182 shares of company stock valued at $1,477,382 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

UPS has been the subject of several research reports. Vertical Research reiterated a “hold” rating and set a $103.00 price target on shares of United Parcel Service in a research note on Wednesday, July 30th. Galvan Research cut their target price on shares of United Parcel Service from $126.00 to $124.00 and set a “buy” rating for the company in a research report on Monday, June 30th. Susquehanna lowered their price target on shares of United Parcel Service from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Wells Fargo & Company reduced their price objective on shares of United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lowered their target price on shares of United Parcel Service from $96.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $109.31.

United Parcel Service Stock Up 1.0%

Shares of NYSE:UPS opened at $86.48 on Friday. The company has a market cap of $73.30 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.60 and a beta of 1.10. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $145.01. The firm has a fifty day moving average price of $85.58 and a two-hundred day moving average price of $93.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same period in the prior year, the business posted $1.79 EPS. United Parcel Service’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were given a dividend of $1.64 per share. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.6%. United Parcel Service’s payout ratio is presently 97.62%.

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.