AIA Group Ltd Invests $1.53 Million in UL Solutions Inc. (NYSE:ULS)

AIA Group Ltd acquired a new stake in UL Solutions Inc. (NYSE:ULS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 30,578 shares of the company's stock, valued at approximately $1,525,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ULS. Charles Schwab Investment Management Inc. increased its holdings in shares of UL Solutions by 52.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 342,707 shares of the company's stock valued at $16,895,000 after purchasing an additional 117,794 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in UL Solutions during the third quarter worth about $278,000. FMR LLC increased its holdings in UL Solutions by 6.9% in the third quarter. FMR LLC now owns 3,565,238 shares of the company's stock valued at $175,766,000 after buying an additional 230,886 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in UL Solutions in the third quarter valued at about $3,723,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of UL Solutions during the 3rd quarter valued at approximately $372,000.

Insiders Place Their Bets

In other UL Solutions news, EVP Alberto Uggetti sold 1,938 shares of UL Solutions stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $53.00, for a total value of $102,714.00. Following the completion of the sale, the executive vice president now owns 9,285 shares in the company, valued at $492,105. The trade was a 17.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ULS shares. JPMorgan Chase & Co. upped their price target on UL Solutions from $55.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. The Goldman Sachs Group upped their target price on UL Solutions from $51.00 to $57.00 and gave the company a "neutral" rating in a report on Friday, February 21st. Finally, Citigroup lifted their price target on UL Solutions from $60.00 to $60.50 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.45.

UL Solutions Price Performance

UL Solutions stock traded up $0.24 during midday trading on Thursday, reaching $57.35. 1,206,533 shares of the company were exchanged, compared to its average volume of 758,093. The company has a market capitalization of $11.48 billion and a price-to-earnings ratio of 35.40. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.31 and a current ratio of 1.31. The firm's 50-day simple moving average is $53.95 and its 200-day simple moving average is $52.25. UL Solutions Inc. has a 1 year low of $33.15 and a 1 year high of $59.23.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.11. The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $726.54 million. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. On average, analysts anticipate that UL Solutions Inc. will post 1.69 EPS for the current year.

UL Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from UL Solutions's previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 0.91%. UL Solutions's payout ratio is 32.10%.

UL Solutions Company Profile

UL Solutions Inc provides safety science services worldwide. It operates through three segments: Industrial, Consumer, and Software and Advisory. The Industrial segment provides testing, inspection, and certification services across various end markets, including energy, industrial automation, engineered materials, and built environment, as well as stakeholders, such as manufacturers, building owners, end users, and regulators.