Synovus Financial Corp Raises Stock Holdings in United Parcel Service, Inc. (NYSE:UPS)

Synovus Financial Corp boosted its stake in United Parcel Service, Inc. (NYSE:UPS) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,531 shares of the transportation company’s stock after purchasing an additional 6,941 shares during the quarter. Synovus Financial Corp’s holdings in United Parcel Service were worth $11,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of UPS. Fiduciary Financial Group LLC purchased a new stake in shares of United Parcel Service during the second quarter worth about $362,000. Sawgrass Asset Management LLC purchased a new stake in shares of United Parcel Service in the 2nd quarter worth approximately $270,000. Blue Trust Inc. raised its stake in United Parcel Service by 12.9% during the second quarter. Blue Trust Inc. now owns 7,109 shares of the transportation company’s stock valued at $1,057,000 after buying an additional 810 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in shares of United Parcel Service by 4.2% in the second quarter. Stanley Laman Group Ltd. now owns 22,679 shares of the transportation company’s stock worth $3,104,000 after acquiring an additional 911 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of United Parcel Service by 2.3% during the second quarter. Brookstone Capital Management now owns 92,728 shares of the transportation company’s stock valued at $13,666,000 after acquiring an additional 2,117 shares in the last quarter. Hedge funds and other institutional investors own 60.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on UPS shares. Susquehanna increased their price target on shares of United Parcel Service from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 25th. StockNews.com raised United Parcel Service from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Argus raised United Parcel Service from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of United Parcel Service from $151.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, UBS Group boosted their target price on shares of United Parcel Service from $159.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.29.

Insider Activity

In related news, insider Norman M. Brothers, Jr. sold 7,325 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $138.57, for a total transaction of $1,015,025.25. Following the completion of the sale, the insider now owns 45,098 shares of the company’s stock, valued at approximately $6,249,229.86. This represents a 13.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

United Parcel Service Stock Down 0.1 %

NYSE:UPS opened at $128.99 on Friday. United Parcel Service, Inc. has a 1-year low of $123.12 and a 1-year high of $163.82. The company has a 50-day moving average of $132.99 and a 200 day moving average of $132.85. The firm has a market cap of $110.08 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.12 and a beta of 0.98. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.14 and a quick ratio of 1.14.

United Parcel Service (NYSE:UPS) last released its quarterly earnings results on Thursday, October 24th. The transportation company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.10 billion. United Parcel Service had a return on equity of 37.38% and a net margin of 6.25%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $1.57 earnings per share. As a group, research analysts anticipate that United Parcel Service, Inc. will post 7.48 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Monday, November 18th. United Parcel Service’s dividend payout ratio is presently 98.49%.

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.