Sovereign Financial Group Inc. Has $3.63 Million Position in United Parcel Service, Inc. (NYSE:UPS)

Sovereign Financial Group Inc. trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,063 shares of the transportation company’s stock after selling 377 shares during the quarter. United Parcel Service comprises about 1.1% of Sovereign Financial Group Inc.’s holdings, making the stock its 18th biggest holding. Sovereign Financial Group Inc.’s holdings in United Parcel Service were worth $3,626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UPS. OFI Invest Asset Management bought a new position in shares of United Parcel Service in the third quarter worth about $25,000. Tennessee Valley Asset Management Partners acquired a new position in United Parcel Service during the 4th quarter worth $26,000. Life Planning Partners Inc bought a new position in United Parcel Service in the 4th quarter valued at $28,000. Bourgeon Capital Management LLC bought a new stake in shares of United Parcel Service during the fourth quarter worth $31,000. Finally, VisionPoint Advisory Group LLC lifted its stake in shares of United Parcel Service by 69.5% during the third quarter. VisionPoint Advisory Group LLC now owns 239 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 60.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group raised shares of United Parcel Service from a “neutral” rating to a “buy” rating and raised their target price for the company from $160.00 to $175.00 in a research note on Tuesday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of United Parcel Service from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Redburn Atlantic upgraded United Parcel Service from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Wednesday, April 3rd. Robert W. Baird upgraded United Parcel Service from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $170.00 in a report on Friday, February 16th. Finally, Raymond James reduced their target price on United Parcel Service from $185.00 to $175.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $165.23.

United Parcel Service Stock Up 0.5 %

Shares of NYSE UPS traded up $0.68 during midday trading on Wednesday, reaching $147.77. The company’s stock had a trading volume of 2,382,775 shares, compared to its average volume of 4,163,646. The company has a current ratio of 1.10, a quick ratio of 1.04 and a debt-to-equity ratio of 1.11. United Parcel Service, Inc. has a fifty-two week low of $133.68 and a fifty-two week high of $192.98. The stock has a 50 day simple moving average of $149.35 and a 200-day simple moving average of $150.53. The stock has a market capitalization of $126.00 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.68 and a beta of 1.05.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.10. The company had revenue of $21.70 billion during the quarter, compared to analysts’ expectations of $21.84 billion. United Parcel Service had a return on equity of 37.42% and a net margin of 6.60%. United Parcel Service’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 EPS. Equities research analysts predict that United Parcel Service, Inc. will post 8.23 earnings per share for the current year.

United Parcel Service Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 13th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, May 10th. United Parcel Service’s payout ratio is presently 94.49%.

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.