Assenagon Asset Management S.A. Buys 1,264,842 Shares of United Parcel Service, Inc. $UPS

Assenagon Asset Management S.A. increased its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 443.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,549,962 shares of the transportation company’s stock after purchasing an additional 1,264,842 shares during the quarter. Assenagon Asset Management S.A.’s holdings in United Parcel Service were worth $156,453,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Pinney & Scofield Inc. purchased a new position in shares of United Parcel Service during the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new stake in United Parcel Service in the fourth quarter worth about $28,000. Graybill Wealth Management LTD. purchased a new position in shares of United Parcel Service during the first quarter valued at approximately $26,000. Citizens National Bank Trust Department grew its stake in shares of United Parcel Service by 525.0% during the first quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company’s stock valued at $27,000 after buying an additional 210 shares during the last quarter. Finally, Hemington Wealth Management raised its holdings in shares of United Parcel Service by 68.9% in the first quarter. Hemington Wealth Management now owns 282 shares of the transportation company’s stock worth $31,000 after buying an additional 115 shares during the period. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Trading Down 1.1%

UPS opened at $84.14 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. The firm has a market cap of $71.31 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.57 and a beta of 1.08. United Parcel Service, Inc. has a 12 month low of $82.00 and a 12 month high of $145.01. The stock has a fifty day moving average price of $89.48 and a 200-day moving average price of $97.81.

United Parcel Service (NYSE:UPS) last posted its earnings results on Tuesday, July 29th. The transportation company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $20.90 billion. During the same period last year, the business earned $1.79 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Monday, August 18th were given a $1.64 dividend. The ex-dividend date was Monday, August 18th. This represents a $6.56 dividend on an annualized basis and a yield of 7.8%. United Parcel Service’s dividend payout ratio (DPR) is presently 97.62%.

Analyst Ratings Changes

Several brokerages have commented on UPS. Oppenheimer cut their price objective on United Parcel Service from $114.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. BNP Paribas Exane raised shares of United Parcel Service from an “underperform” rating to a “neutral” rating and set a $100.00 price target on the stock in a research note on Thursday, July 3rd. Citigroup lowered their price objective on shares of United Parcel Service from $127.00 to $114.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. JPMorgan Chase & Co. reduced their target price on shares of United Parcel Service from $110.00 to $107.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lowered their price target on United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.44.

Insider Buying and Selling

In other United Parcel Service news, CEO Carol B. Tome purchased 11,682 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the acquisition, the chief executive officer owned 24,718 shares of the company’s stock, valued at approximately $2,117,591.06. This represents a 89.61% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christiana Smith Shi bought 500 shares of the stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $88.17 per share, with a total value of $44,085.00. Following the completion of the purchase, the director directly owned 500 shares of the company’s stock, valued at approximately $44,085. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,182 shares of company stock valued at $1,477,382 over the last quarter. Company insiders own 0.13% of the company’s stock.

United Parcel Service Profile

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.