Truist Financial Corp Buys Shares of 18,798 ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Truist Financial Corp bought a new stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,798 shares of the company’s stock, valued at approximately $417,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ZIM Integrated Shipping Services by 2,341.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,929 shares of the company’s stock valued at $43,000 after purchasing an additional 1,850 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of ZIM Integrated Shipping Services by 1,431.1% in the first quarter. Russell Investments Group Ltd. now owns 6,063 shares of the company’s stock worth $61,000 after acquiring an additional 5,667 shares during the period. Mather Group LLC. acquired a new position in shares of ZIM Integrated Shipping Services in the second quarter worth approximately $96,000. Cetera Advisors LLC acquired a new position in shares of ZIM Integrated Shipping Services in the first quarter worth approximately $130,000. Finally, nVerses Capital LLC acquired a new position in shares of ZIM Integrated Shipping Services in the second quarter worth approximately $142,000. Institutional investors own 21.42% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America lifted their price objective on ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an “underperform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a report on Tuesday, September 10th. Jefferies Financial Group downgraded ZIM Integrated Shipping Services from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a report on Wednesday, October 2nd. Finally, Barclays lifted their target price on ZIM Integrated Shipping Services from $12.50 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat.com, ZIM Integrated Shipping Services presently has an average rating of “Reduce” and an average target price of $15.44.

ZIM Integrated Shipping Services Stock Down 0.9 %

Shares of NYSE ZIM opened at $20.99 on Friday. ZIM Integrated Shipping Services Ltd. has a one year low of $6.39 and a one year high of $26.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.97. The business’s fifty day moving average price is $19.99 and its 200-day moving average price is $18.14. The stock has a market capitalization of $2.53 billion, a PE ratio of -1.29, a P/E/G ratio of 0.04 and a beta of 1.86.

ZIM Integrated Shipping Services (NYSE:ZIM) last issued its quarterly earnings data on Monday, August 19th. The company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $1.01. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same quarter in the prior year, the firm posted ($1.37) EPS. On average, equities research analysts anticipate that ZIM Integrated Shipping Services Ltd. will post 11.22 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were issued a dividend of $0.93 per share. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 29th. This represents a $3.72 dividend on an annualized basis and a yield of 17.72%. ZIM Integrated Shipping Services’s dividend payout ratio is -5.64%.

About ZIM Integrated Shipping Services

ZIM Integrated Shipping Services Ltd., together with its subsidiaries, provides container shipping and related services in Israel and internationally. It provides door-to-door and port-to-port transportation services for various types of customers, including end-users, consolidators, and freight forwarders.