Confluence Wealth Services Inc. Decreases Stake in United Parcel Service, Inc. (NYSE:UPS)

Confluence Wealth Services Inc. cut its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 46.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,580 shares of the transportation company’s stock after selling 5,800 shares during the quarter. Confluence Wealth Services Inc.’s holdings in United Parcel Service were worth $879,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in United Parcel Service by 4.3% in the third quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock valued at $113,064,000 after buying an additional 33,989 shares in the last quarter. Synovus Financial Corp increased its stake in United Parcel Service by 8.6% in the 3rd quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock valued at $11,934,000 after purchasing an additional 6,941 shares in the last quarter. Van ECK Associates Corp increased its stake in United Parcel Service by 1,061.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock valued at $232,959,000 after purchasing an additional 1,620,091 shares in the last quarter. HF Advisory Group LLC acquired a new position in United Parcel Service during the fourth quarter worth $1,305,000. Finally, Rovin Capital UT ADV boosted its position in United Parcel Service by 85.7% during the fourth quarter. Rovin Capital UT ADV now owns 4,757 shares of the transportation company’s stock worth $600,000 after purchasing an additional 2,195 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Performance

Shares of UPS stock opened at $111.95 on Thursday. The firm has a market capitalization of $95.54 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.63 and a beta of 0.98. The company has a 50 day moving average price of $127.32 and a 200 day moving average price of $129.69. United Parcel Service, Inc. has a one year low of $109.40 and a one year high of $158.95. 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 released its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 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 quarter in the prior year, the business posted $2.47 earnings per share. Sell-side analysts anticipate that United Parcel Service, Inc. will post 8.61 EPS for the current year.

United Parcel Service Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.86%. This is a boost from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s payout ratio is presently 96.45%.

Insider Buying and Selling

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $138.57, for a total value of $1,015,025.25. Following the transaction, the insider now directly owns 45,098 shares of the company’s stock, valued at $6,249,229.86. This trade represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on UPS shares. Raymond James cut their price target on 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. Baird R W cut shares of United Parcel Service from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 31st. Barclays reaffirmed an “underweight” rating and issued a $120.00 price target on shares of United Parcel Service in a report on Monday, October 21st. Bank of America dropped their price objective 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. Finally, JPMorgan Chase & Co. reduced their target price on United Parcel Service from $135.00 to $120.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, United Parcel Service presently has a consensus rating of “Moderate Buy” and an average price target of $140.73.

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.