Pinebridge Investments L.P. Buys 64,321 Shares of United Parcel Service, Inc. (NYSE:UPS)

Pinebridge Investments L.P. grew its holdings in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 14.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 498,619 shares of the transportation company's stock after purchasing an additional 64,321 shares during the period. Pinebridge Investments L.P. owned approximately 0.06% of United Parcel Service worth $62,876,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of UPS. IMG Wealth Management Inc. acquired a new position in shares of United Parcel Service during the 4th quarter valued at $25,000. Generali Investments Management Co LLC acquired a new position in United Parcel Service during the fourth quarter worth about $26,000. IFS Advisors LLC grew its holdings in United Parcel Service by 232.3% during the fourth quarter. IFS Advisors LLC now owns 216 shares of the transportation company's stock worth $27,000 after acquiring an additional 151 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in United Parcel Service in the fourth quarter worth about $30,000. Finally, Transce3nd LLC acquired a new stake in United Parcel Service in the 4th quarter valued at about $33,000. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Down 1.1 %

Shares of NYSE UPS traded down $1.06 during trading hours on Friday, hitting $97.86. The stock had a trading volume of 4,573,715 shares, compared to its average volume of 4,833,118. The firm's 50-day moving average price is $108.58 and its two-hundred day moving average price is $121.56. United Parcel Service, Inc. has a 52 week low of $90.55 and a 52 week high of $153.42. The company has a market capitalization of $83.59 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.55 and a beta of 1.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.14 and a current ratio of 1.17.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its earnings results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same quarter in the prior year, the business earned $2.47 EPS. Analysts anticipate that United Parcel Service, Inc. will post 7.95 EPS for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Tuesday, February 18th were issued a dividend of $1.64 per share. This is an increase from United Parcel Service's previous quarterly dividend of $1.63. This represents a $6.56 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend was Tuesday, February 18th. United Parcel Service's dividend payout ratio is currently 97.04%.

Wall Street Analyst Weigh In

UPS has been the topic of a number of research reports. Barclays dropped their target price on shares of United Parcel Service from $100.00 to $90.00 and set an "underweight" rating on the stock in a report on Monday, March 31st. UBS Group dropped their price target on United Parcel Service from $141.00 to $127.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Bank of America reduced their price objective on United Parcel Service from $133.00 to $129.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Susquehanna cut their target price on United Parcel Service from $130.00 to $120.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 1st. Finally, StockNews.com upgraded United Parcel Service from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, United Parcel Service currently has a consensus rating of "Hold" and a consensus price target of $126.41.

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.