The Manufacturers Life Insurance Company Purchases 20,160 Shares of United Parcel Service, Inc. (NYSE:UPS)

The Manufacturers Life Insurance Company lifted its position in United Parcel Service, Inc. (NYSE:UPS) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606,895 shares of the transportation company’s stock after acquiring an additional 20,160 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of United Parcel Service worth $76,529,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of United Parcel Service by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock worth $113,064,000 after acquiring an additional 33,989 shares in the last quarter. Onyx Bridge Wealth Group LLC bought a new position in United Parcel Service during the fourth quarter valued at about $461,000. Synovus Financial Corp grew its position in United Parcel Service by 8.6% during the third quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock valued at $11,934,000 after buying an additional 6,941 shares during the period. HF Advisory Group LLC bought a new position in United Parcel Service during the fourth quarter valued at about $1,305,000. Finally, Allspring Global Investments Holdings LLC grew its position in United Parcel Service by 27.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,623 shares of the transportation company’s stock valued at $16,304,000 after buying an additional 28,108 shares during the period. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Performance

NYSE:UPS opened at $96.74 on Wednesday. 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, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $153.42. The business has a 50 day moving average price of $107.82 and a 200-day moving average price of $120.97. The firm has a market cap of $82.63 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.55 and a beta of 1.10.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Tuesday, April 29th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.11. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $21.25 billion. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. Equities research analysts predict that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were given a $1.64 dividend. This is a positive change 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 6.78%. The ex-dividend date was Tuesday, February 18th. United Parcel Service’s dividend payout ratio (DPR) is currently 97.04%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on UPS shares. Wolfe Research reduced their price target on shares of United Parcel Service from $133.00 to $113.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Robert W. Baird lowered shares of United Parcel Service from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $130.00 in a research report on Friday, January 31st. Susquehanna reduced their price target on shares of United Parcel Service from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Tuesday, April 1st. Truist Financial reduced their price target on shares of United Parcel Service from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of United Parcel Service from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.41.

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.