Onyx Bridge Wealth Group LLC Takes $461,000 Position in United Parcel Service, Inc. (NYSE:UPS)

Onyx Bridge Wealth Group LLC acquired a new position in shares of United Parcel Service, Inc. (NYSE:UPS) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,656 shares of the transportation company’s stock, valued at approximately $461,000.

Other institutional investors have also recently bought and sold shares of the company. Tyche Wealth Partners LLC lifted its stake in United Parcel Service by 67.8% in the fourth quarter. Tyche Wealth Partners LLC now owns 7,247 shares of the transportation company’s stock valued at $914,000 after acquiring an additional 2,927 shares during the last quarter. Absher Wealth Management LLC raised its holdings in shares of United Parcel Service by 11.9% during the 4th quarter. Absher Wealth Management LLC now owns 5,196 shares of the transportation company’s stock valued at $655,000 after purchasing an additional 553 shares in the last quarter. Optimist Retirement Group LLC lifted its stake in shares of United Parcel Service by 103.1% in the 4th quarter. Optimist Retirement Group LLC now owns 6,252 shares of the transportation company’s stock valued at $788,000 after purchasing an additional 3,173 shares during the last quarter. Econ Financial Services Corp bought a new stake in United Parcel Service in the fourth quarter worth $2,084,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in United Parcel Service by 21.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 612,094 shares of the transportation company’s stock worth $77,172,000 after buying an additional 109,459 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UPS shares. BMO Capital Markets raised United Parcel Service from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $155.00 to $150.00 in a research report on Tuesday, December 10th. Morgan Stanley reduced their target price on United Parcel Service from $100.00 to $82.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Stifel Nicolaus lowered their price target on United Parcel Service from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. UBS Group dropped their target price on shares of United Parcel Service from $170.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of United Parcel Service from $135.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, United Parcel Service has an average rating of “Moderate Buy” and a consensus price target of $140.73.

Insider Activity

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $138.57, for a total transaction of $1,015,025.25. Following the transaction, the insider now owns 45,098 shares of the company’s stock, valued at $6,249,229.86. This represents a 13.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by insiders.

United Parcel Service Stock Performance

NYSE UPS opened at $111.95 on Thursday. United Parcel Service, Inc. has a 1-year low of $109.40 and a 1-year high of $158.95. The company has a 50 day moving average of $127.32 and a 200-day moving average of $129.69. The company has a current ratio of 1.17, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16. The firm has a market cap of $95.54 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.63 and a beta of 0.98.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a return on equity of 39.13% and a net margin of 6.35%. During the same quarter in the previous year, the business posted $2.47 earnings per share. On average, equities analysts forecast that United Parcel Service, Inc. will post 8.61 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.86%. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. United Parcel Service’s dividend payout ratio is presently 96.45%.

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.