Ameriprise Financial Inc. Raises Stock Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• Ameriprise Financial Inc. raised its holdings in Full Truck Alliance Co. Ltd. by 5.7%, owning approximately 4,021,285 shares valued at $51.35 million after purchasing an additional 216,818 shares in the first quarter.
• Citigroup has lowered its price target for Full Truck Alliance from $16.50 to $16.00 while maintaining a "buy" rating, with an average consensus price target of $15.00.
• The company announced an annual dividend of $0.096, representing a yield of 60%, which will be paid to investors of record on October 13th.

Ameriprise Financial Inc. boosted its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,021,285 shares of the company's stock after purchasing an additional 216,818 shares during the quarter. Ameriprise Financial Inc. owned about 0.38% of Full Truck Alliance worth $51,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Full Truck Alliance by 6.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock worth $311,000 after acquiring an additional 1,406 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Full Truck Alliance by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company's stock valued at $1,087,000 after purchasing an additional 1,577 shares during the period. Brooklyn Investment Group boosted its stake in shares of Full Truck Alliance by 495.4% in the first quarter. Brooklyn Investment Group now owns 2,459 shares of the company's stock worth $31,000 after buying an additional 2,046 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Full Truck Alliance in the 1st quarter worth approximately $29,000. Finally, US Bancorp DE acquired a new position in shares of Full Truck Alliance in the 1st quarter valued at $40,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Up 2.4%

Shares of Full Truck Alliance stock traded up $0.30 during mid-day trading on Friday, hitting $13.05. The stock had a trading volume of 13,661,989 shares, compared to its average volume of 14,752,693. The firm has a 50-day moving average of $11.93 and a two-hundred day moving average of $11.94. The firm has a market cap of $13.65 billion, a P/E ratio of 23.31 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12-month low of $7.00 and a 12-month high of $13.85.

Full Truck Alliance Cuts Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, October 27th. Investors of record on Monday, October 13th will be issued a $0.096 dividend. This represents a yield of 60.0%. The ex-dividend date is Friday, October 10th. Full Truck Alliance's payout ratio is 28.57%.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price target on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.