Conning Inc. Sells 13,106 Shares of United Parcel Service, Inc. (NYSE:UPS)

Conning Inc. cut its position in shares of United Parcel Service, Inc. (NYSE:UPS) by 72.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,912 shares of the transportation company’s stock after selling 13,106 shares during the period. Conning Inc.’s holdings in United Parcel Service were worth $672,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of United Parcel Service by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 67,218,714 shares of the transportation company’s stock valued at $10,568,798,000 after purchasing an additional 178,394 shares during the last quarter. Wellington Management Group LLP boosted its holdings in United Parcel Service by 87.6% during the 4th quarter. Wellington Management Group LLP now owns 18,152,900 shares of the transportation company’s stock valued at $2,854,180,000 after acquiring an additional 8,475,698 shares during the period. Franklin Resources Inc. boosted its holdings in United Parcel Service by 11.4% during the 4th quarter. Franklin Resources Inc. now owns 9,607,055 shares of the transportation company’s stock valued at $1,510,517,000 after acquiring an additional 980,317 shares during the period. Norges Bank purchased a new stake in United Parcel Service during the 4th quarter valued at about $1,128,322,000. Finally, Clearbridge Investments LLC boosted its holdings in United Parcel Service by 6.5% during the 1st quarter. Clearbridge Investments LLC now owns 6,671,306 shares of the transportation company’s stock valued at $991,556,000 after acquiring an additional 406,248 shares during the period. 60.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UPS has been the subject of several analyst reports. Bank of America dropped their target price on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Oppenheimer dropped their target price on United Parcel Service from $157.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets dropped their price objective on United Parcel Service from $169.00 to $155.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus dropped their price objective on United Parcel Service from $170.00 to $151.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Robert W. Baird dropped their price objective on United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, United Parcel Service presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.20.

United Parcel Service Stock Down 0.6 %

Shares of United Parcel Service stock traded down $0.71 on Wednesday, reaching $127.19. The company’s stock had a trading volume of 3,359,275 shares, compared to its average volume of 4,246,320. The company has a market capitalization of $108.95 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.85 and a beta of 0.98. The firm’s fifty day simple moving average is $133.09 and its two-hundred day simple moving average is $141.79. United Parcel Service, Inc. has a 52 week low of $123.12 and a 52 week high of $172.75. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.20). United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The firm had revenue of $21.82 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the firm earned $2.54 EPS. The business’s revenue was down 1.1% on a year-over-year basis. Equities analysts anticipate that United Parcel Service, Inc. will post 7.47 earnings per share for the current year.

United Parcel Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 5.13%. The ex-dividend date is Monday, August 19th. United Parcel Service’s payout ratio is currently 94.49%.

Insider Buying and Selling

In related news, Director William R. Johnson bought 5,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were bought at an average cost of $128.61 per share, for a total transaction of $643,050.00. Following the completion of the transaction, the director now owns 5,160 shares of the company’s stock, valued at $663,627.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

United Parcel Service Company 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.