Pinnacle Financial Partners Inc Sells 1,911 Shares of United Parcel Service, Inc. (NYSE:UPS)

Pinnacle Financial Partners Inc cut its stake in shares of United Parcel Service, Inc. (NYSE:UPS) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,979 shares of the transportation company’s stock after selling 1,911 shares during the period. Pinnacle Financial Partners Inc’s holdings in United Parcel Service were worth $11,348,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of United Parcel Service by 4.3% in the third quarter. Principal Financial Group Inc. now owns 829,280 shares of the transportation company’s stock worth $113,064,000 after purchasing an additional 33,989 shares during the last quarter. Onyx Bridge Wealth Group LLC bought a new position in shares of United Parcel Service in the fourth quarter worth approximately $461,000. Synovus Financial Corp increased its position in shares of United Parcel Service by 8.6% in the third quarter. Synovus Financial Corp now owns 87,531 shares of the transportation company’s stock worth $11,934,000 after purchasing an additional 6,941 shares during the last quarter. Van ECK Associates Corp increased its position in shares of United Parcel Service by 1,061.1% in the third quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock worth $232,959,000 after purchasing an additional 1,620,091 shares during the last quarter. Finally, HF Advisory Group LLC bought a new position in shares of United Parcel Service in the fourth quarter worth approximately $1,305,000. 60.26% of the stock is currently owned by institutional investors.

United Parcel Service Stock Performance

Shares of UPS stock opened at $116.35 on Friday. The stock has a fifty day moving average of $123.21 and a 200 day moving average of $128.36. United Parcel Service, Inc. has a 52 week low of $109.40 and a 52 week high of $158.95. The firm has a market capitalization of $99.38 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.55 and a beta of 0.98. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, topping 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 period last year, the business earned $2.47 earnings per share. As a group, research analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Tuesday, February 18th will be paid a $1.64 dividend. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. The ex-dividend date is Tuesday, February 18th. This represents a $6.56 dividend on an annualized basis and a yield of 5.64%. United Parcel Service’s dividend payout ratio (DPR) is presently 97.04%.

Wall Street Analyst Weigh In

UPS has been the topic of several research analyst reports. Citigroup decreased their price objective on shares of United Parcel Service from $158.00 to $149.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus reduced their price target on shares of United Parcel Service from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Susquehanna reduced their price target on shares of United Parcel Service from $140.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. StockNews.com upgraded shares of United Parcel Service from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company reduced their price target on shares of United Parcel Service from $150.00 to $128.00 and set an “overweight” 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 given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, United Parcel Service has an average rating of “Moderate Buy” and a consensus price target of $140.73.

Insider Buying and Selling

In other United Parcel Service news, insider Norman M. Brothers, Jr. sold 7,325 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $138.57, for a total value of $1,015,025.25. Following the completion of the transaction, the insider now owns 45,098 shares in the company, valued at approximately $6,249,229.86. This represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

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.