Independence Asset Advisors LLC Invests $2.65 Million in United Parcel Service, Inc. $UPS

Independence Asset Advisors LLC bought a new position in United Parcel Service, Inc. (NYSE:UPS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,231 shares of the transportation company’s stock, valued at approximately $2,648,000. United Parcel Service comprises 1.6% of Independence Asset Advisors LLC’s portfolio, making the stock its 7th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Graybill Wealth Management LTD. bought a new stake in shares of United Parcel Service during the first quarter worth $26,000. Citizens National Bank Trust Department grew its position in United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock worth $27,000 after acquiring an additional 210 shares during the last quarter. Hemington Wealth Management increased its holdings in United Parcel Service by 68.9% in the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock worth $31,000 after purchasing an additional 115 shares in the last quarter. Saudi Central Bank bought a new position in United Parcel Service in the first quarter valued at about $32,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of United Parcel Service during the first quarter valued at about $33,000. 60.26% of the stock is owned by institutional investors.

United Parcel Service Price Performance

Shares of UPS opened at $86.48 on Friday. The firm has a market cap of $73.30 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. United Parcel Service, Inc. has a 52-week low of $82.00 and a 52-week high of $145.01. The business’s 50 day moving average price is $85.58 and its two-hundred day moving average price is $93.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32.

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

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were paid a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.6%. United Parcel Service’s dividend payout ratio (DPR) is currently 97.62%.

Analysts Set New Price Targets

Several equities research analysts recently commented on UPS shares. Evercore ISI cut their target price on shares of United Parcel Service from $103.00 to $97.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 30th. BNP Paribas upgraded shares of United Parcel Service to a “hold” rating in a report on Thursday, July 3rd. Galvan Research lowered their target price on 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. Wells Fargo & Company reduced their price target on United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of United Parcel Service in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, United Parcel Service presently has a consensus rating of “Hold” and a consensus price target of $109.31.

Insider Activity at United Parcel Service

In other news, Director Christiana Smith Shi purchased 500 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $88.17 per share, with a total value of $44,085.00. Following the purchase, the director owned 500 shares in the company, valued at $44,085. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William R. Johnson acquired 5,000 shares of United Parcel Service stock in a transaction on Thursday, July 31st. The stock was purchased at an average cost of $86.50 per share, with a total value of $432,500.00. Following the purchase, the director directly owned 10,160 shares of the company’s stock, valued at approximately $878,840. This trade represents a 96.90% increase in their position. The disclosure for this purchase can be found here. Insiders bought 17,182 shares of company stock valued at $1,477,382 in the last three months. Corporate insiders own 0.13% of the company’s stock.

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.