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

AIA Group Ltd bought a new stake in shares of UL Solutions Inc. (NYSE:ULS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,578 shares of the company’s stock, valued at approximately $1,525,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of UL Solutions during the 3rd quarter valued at about $2,086,000. Renaissance Capital LLC lifted its holdings in UL Solutions by 108.5% during the fourth quarter. Renaissance Capital LLC now owns 87,609 shares of the company’s stock valued at $4,370,000 after purchasing an additional 45,595 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of UL Solutions by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 4,516,380 shares of the company’s stock worth $222,658,000 after purchasing an additional 1,022,851 shares during the period. Maven Securities LTD purchased a new stake in shares of UL Solutions in the third quarter worth $4,930,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of UL Solutions by 52.4% during 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 during the period.

UL Solutions Stock Up 1.3 %

NYSE ULS opened at $56.42 on Tuesday. The stock has a 50 day moving average price of $53.79 and a 200-day moving average price of $52.16. UL Solutions Inc. has a one year low of $33.15 and a one year high of $59.23. 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 company has a market capitalization of $11.29 billion and a P/E ratio of 34.83.

UL Solutions (NYSE:ULS) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.38 by $0.11. UL Solutions had a net margin of 11.36% and a return on equity of 44.52%. The business had revenue of $739.00 million during the quarter, compared to analyst estimates of $726.54 million. As a group, equities analysts predict that UL Solutions Inc. will post 1.69 EPS for the current fiscal year.

UL Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a boost from UL Solutions’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, February 28th. UL Solutions’s payout ratio is presently 32.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup increased 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. The Goldman Sachs Group lifted their target price on UL Solutions from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Friday, February 21st. Finally, 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 research note on Friday, February 21st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.45.

Insider Buying and Selling at UL Solutions

In other news, EVP Alberto Uggetti sold 1,938 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $53.00, for a total transaction of $102,714.00. Following the transaction, the executive vice president now owns 9,285 shares of the company’s stock, valued at approximately $492,105. The trade was a 17.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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.