Corebridge Financial Inc. Sells 8,329 Shares of United Parcel Service, Inc. (NYSE:UPS)

Corebridge Financial Inc. trimmed its stake in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,092 shares of the transportation company's stock after selling 8,329 shares during the period. Corebridge Financial Inc.'s holdings in United Parcel Service were worth $21,196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacific Sage Partners LLC lifted its position in United Parcel Service by 4.8% in the fourth quarter. Pacific Sage Partners LLC now owns 1,677 shares of the transportation company's stock valued at $212,000 after purchasing an additional 77 shares during the period. Quent Capital LLC grew its holdings in United Parcel Service by 16.7% during the fourth quarter. Quent Capital LLC now owns 558 shares of the transportation company's stock worth $70,000 after acquiring an additional 80 shares during the period. Gleason Group Inc. lifted its holdings in United Parcel Service by 1.3% in the fourth quarter. Gleason Group Inc. now owns 6,660 shares of the transportation company's stock valued at $840,000 after acquiring an additional 84 shares during the period. Dunhill Financial LLC lifted its stake in shares of United Parcel Service by 4.9% in the third quarter. Dunhill Financial LLC now owns 1,831 shares of the transportation company's stock valued at $250,000 after purchasing an additional 86 shares during the period. Finally, Weaver Consulting Group lifted its position in shares of United Parcel Service by 3.0% during the 3rd quarter. Weaver Consulting Group now owns 3,053 shares of the transportation company's stock valued at $416,000 after acquiring an additional 89 shares during the period. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

UPS has been the subject of several research analyst reports. Bank of America dropped 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. Susquehanna dropped their target price on shares of United Parcel Service from $140.00 to $130.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. StockNews.com raised United Parcel Service from a "hold" rating to a "buy" rating in a report on Wednesday, March 5th. UBS Group reduced their price target on United Parcel Service from $170.00 to $141.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of United Parcel Service in a research note on Friday, March 7th. They set a "hold" rating and a $119.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, United Parcel Service presently has a consensus rating of "Moderate Buy" and an average price target of $137.57.

United Parcel Service Stock Performance

Shares of UPS traded down $0.27 during mid-day trading on Thursday, reaching $110.74. The company's stock had a trading volume of 1,537,003 shares, compared to its average volume of 4,465,947. 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 stock has a market cap of $94.59 billion, a P/E ratio of 16.38, a PEG ratio of 1.55 and a beta of 0.94. United Parcel Service, Inc. has a 1-year low of $109.40 and a 1-year high of $154.29. The business has a 50-day simple moving average of $119.30 and a two-hundred day simple moving average of $126.68.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, beating 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 period in the prior year, the company earned $2.47 EPS. As a group, equities research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th were given a $1.64 dividend. This is an increase from United Parcel Service's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $6.56 annualized dividend and a dividend yield of 5.92%. United Parcel Service's dividend payout ratio is presently 97.04%.

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.