Envestnet Asset Management Inc. Sells 275,986 Shares of United Parcel Service, Inc. $UPS

Envestnet Asset Management Inc. reduced its position in United Parcel Service, Inc. (NYSE:UPS) by 21.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 997,015 shares of the transportation company’s stock after selling 275,986 shares during the period. Envestnet Asset Management Inc.’s holdings in United Parcel Service were worth $83,281,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Andra AP fonden raised its position in United Parcel Service by 95.9% in the 2nd quarter. Andra AP fonden now owns 332,983 shares of the transportation company’s stock valued at $33,611,000 after purchasing an additional 163,000 shares during the last quarter. BLVD Private Wealth LLC purchased a new position in United Parcel Service during the second quarter worth about $1,479,000. Strategic Planning Inc. acquired a new stake in United Parcel Service in the third quarter valued at $3,885,000. Avantax Advisory Services Inc. lifted its stake in shares of United Parcel Service by 14.6% in the second quarter. Avantax Advisory Services Inc. now owns 94,361 shares of the transportation company’s stock valued at $9,525,000 after purchasing an additional 12,035 shares during the period. Finally, Equity Investment Corp lifted its position in shares of United Parcel Service by 16.8% during the 2nd quarter. Equity Investment Corp now owns 1,130,550 shares of the transportation company’s stock valued at $114,118,000 after acquiring an additional 162,364 shares during the period. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at United Parcel Service

In related news, insider Norman M. Brothers, Jr. sold 25,014 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $106.15, for a total value of $2,655,236.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on UPS shares. Bank of America upgraded shares of United Parcel Service from an “underperform” rating to a “neutral” rating and set a $114.00 price objective on the stock in a research report on Friday, January 9th. Evercore lifted their price objective on United Parcel Service from $94.00 to $113.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 21st. HSBC upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a research report on Wednesday, January 28th. Weiss Ratings upgraded United Parcel Service from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Finally, Wall Street Zen raised shares of United Parcel Service from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.67.

United Parcel Service Stock Performance

Shares of United Parcel Service stock opened at $117.36 on Friday. The firm’s 50-day simple moving average is $103.72 and its 200-day simple moving average is $94.08. United Parcel Service, Inc. has a 1 year low of $82.00 and a 1 year high of $123.70. The firm has a market cap of $99.57 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.30 and a current ratio of 1.22.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, January 27th. The transportation company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.18. The company had revenue of $24.48 billion for 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%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 earnings per share. Equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Tuesday, February 17th 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 5.6%. The ex-dividend date of this dividend is Tuesday, February 17th. United Parcel Service’s dividend payout ratio (DPR) is 100.00%.

United Parcel Service Company Profile

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.