Assenagon Asset Management S.A. Buys 652,750 Shares of United Parcel Service, Inc. $UPS

Assenagon Asset Management S.A. lifted its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 155.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,071,487 shares of the transportation company’s stock after buying an additional 652,750 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of United Parcel Service worth $106,281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Diversified Trust Co. boosted its holdings in shares of United Parcel Service by 18.7% during the fourth quarter. Diversified Trust Co. now owns 3,502 shares of the transportation company’s stock worth $347,000 after acquiring an additional 551 shares during the period. Westview Management dba Westview Investment Advisors bought a new position in shares of United Parcel Service during the fourth quarter worth approximately $258,000. O Keefe Stevens Advisory Inc. increased its stake in shares of United Parcel Service by 6.2% during the fourth quarter. O Keefe Stevens Advisory Inc. now owns 10,638 shares of the transportation company’s stock worth $1,055,000 after purchasing an additional 621 shares during the period. True Wealth Design LLC lifted its holdings in United Parcel Service by 267.0% during the 4th quarter. True Wealth Design LLC now owns 1,692 shares of the transportation company’s stock worth $168,000 after purchasing an additional 1,231 shares during the last quarter. Finally, Gradient Investments LLC acquired a new stake in United Parcel Service during the 4th quarter worth approximately $14,076,000. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Stock Performance

UPS opened at $97.76 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.22 and a current ratio of 1.22. United Parcel Service, Inc. has a 52-week low of $82.00 and a 52-week high of $122.41. The firm has a market cap of $83.01 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The business’s fifty day moving average is $108.98 and its 200-day moving average is $98.48.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Tuesday, January 27th. The transportation company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.18. The business had revenue of $24.48 billion during the quarter, compared to analysts’ expectations of $23.91 billion. United Parcel Service had a net margin of 6.28% and a return on equity of 38.30%. United Parcel Service’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 earnings per share. Sell-side analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Tuesday, February 17th were issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Tuesday, February 17th. United Parcel Service’s dividend payout ratio is 100.00%.

Insider Activity

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 25,014 shares of the business’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $106.15, for a total transaction of $2,655,236.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UPS shares. Stifel Nicolaus upped their price objective on United Parcel Service from $112.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Wolfe Research reissued a “peer perform” rating on shares of United Parcel Service in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of United Parcel Service from $88.00 to $106.00 and gave the company a “hold” rating in a research report on Wednesday, January 28th. Oppenheimer raised their price target on shares of United Parcel Service from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 28th. Finally, Truist Financial lifted their price objective on shares of United Parcel Service from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.67.

About United Parcel Service

United Parcel Service (NYSE: UPS) is a global package delivery and supply chain management company that provides a broad range of transportation, logistics and e-commerce services. Its core business centers on small-package delivery and last-mile distribution for business and individual customers, supported by a network of ground transportation, air cargo operations (UPS Airlines) and sorting facilities. In addition to parcel delivery, UPS offers freight transportation, contract logistics, warehousing, customs brokerage and reverse-logistics solutions designed to support domestic and international commerce.

The company traces its roots to 1907 when it began as a small messenger service in the United States and later evolved into the United Parcel Service.