Corebridge Financial Inc. Decreases Stock Position in United Parcel Service, Inc. (NYSE:UPS)

Corebridge Financial Inc. reduced its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,092 shares of the transportation company’s stock after selling 8,329 shares during the quarter. Corebridge Financial Inc.’s holdings in United Parcel Service were worth $21,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB boosted its stake in shares of United Parcel Service by 2.8% during the third quarter. Swedbank AB now owns 280,509 shares of the transportation company’s stock valued at $38,245,000 after acquiring an additional 7,675 shares during the last quarter. Larson Financial Group LLC lifted its holdings in United Parcel Service by 73.4% in the 3rd quarter. Larson Financial Group LLC now owns 7,324 shares of the transportation company’s stock valued at $999,000 after purchasing an additional 3,100 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of United Parcel Service by 8.9% during the 3rd quarter. Summit Trail Advisors LLC now owns 5,924 shares of the transportation company’s stock worth $808,000 after purchasing an additional 483 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of United Parcel Service by 12.2% during the third quarter. Daiwa Securities Group Inc. now owns 91,262 shares of the transportation company’s stock worth $12,443,000 after buying an additional 9,898 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of United Parcel Service by 5.0% in the third quarter. Fisher Asset Management LLC now owns 124,070 shares of the transportation company’s stock valued at $16,916,000 after buying an additional 5,956 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Trading Up 0.7 %

NYSE:UPS opened at $115.88 on Tuesday. United Parcel Service, Inc. has a 12 month low of $109.40 and a 12 month high of $157.99. The business’s 50-day moving average is $119.95 and its two-hundred day moving average is $126.92. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The firm has a market capitalization of $98.98 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 1.55 and a beta of 0.94.

United Parcel Service (NYSE:UPS) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the company posted $2.47 EPS. Research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were paid a $1.64 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 annualized dividend and a dividend yield of 5.66%. United Parcel Service’s dividend payout ratio is 97.04%.

Wall Street Analyst Weigh In

UPS has been the subject of several recent analyst reports. Bank of America lowered their target price on shares of United Parcel Service from $150.00 to $133.00 and set a “buy” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $135.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Morgan Stanley decreased their price target on United Parcel Service from $100.00 to $82.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Truist Financial began coverage on United Parcel Service in a report on Thursday, March 13th. They issued a “buy” rating and a $140.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on shares of United Parcel Service from $150.00 to $128.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, United Parcel Service has a consensus rating of “Moderate Buy” and a consensus price target of $138.09.

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.