Harel Insurance Investments & Financial Services Ltd. Purchases 279,510 Shares of ZIM Integrated Shipping Services Ltd. $ZIM

Key Points

• Harel Insurance boosted its stake in ZIM by 249% in Q4, buying 279,510 shares to hold 391,770 shares (about 0.33% of the company) worth roughly $8.32 million.
• ZIM increased its quarterly dividend to $0.88 (from $0.31), implying a $3.52 annualized payout and a 12.4% yield.
• The stock recently jumped ~9.2% to open at $28.47, has a $3.43 billion market cap and a P/E of 7.15, while analysts’ consensus is a Hold with a $18.14 target.

Harel Insurance Investments & Financial Services Ltd. grew its position in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 249.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 391,770 shares of the company's stock after acquiring an additional 279,510 shares during the quarter. Harel Insurance Investments & Financial Services Ltd. owned about 0.33% of ZIM Integrated Shipping Services worth $8,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ZIM. Royal Bank of Canada increased its holdings in shares of ZIM Integrated Shipping Services by 8.2% during the first quarter. Royal Bank of Canada now owns 40,827 shares of the company's stock valued at $596,000 after acquiring an additional 3,102 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of ZIM Integrated Shipping Services during the first quarter valued at approximately $210,000. Goldman Sachs Group Inc. increased its holdings in shares of ZIM Integrated Shipping Services by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 4,720,986 shares of the company's stock valued at $68,879,000 after acquiring an additional 788,514 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ZIM Integrated Shipping Services by 5.6% during the second quarter. Geode Capital Management LLC now owns 119,218 shares of the company's stock valued at $1,915,000 after acquiring an additional 6,342 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of ZIM Integrated Shipping Services by 505.1% during the second quarter. Russell Investments Group Ltd. now owns 76,738 shares of the company's stock valued at $1,236,000 after acquiring an additional 64,057 shares in the last quarter. Institutional investors own 21.42% of the company's stock.

ZIM Integrated Shipping Services Stock Up 9.2%

Shares of NYSE:ZIM opened at $28.47 on Wednesday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 7.15 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 1.14. ZIM Integrated Shipping Services Ltd. has a 12-month low of $12.33 and a 12-month high of $29.97. The business's 50 day moving average is $27.05 and its 200 day moving average is $22.25.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its earnings results on Saturday, February 14th. The company reported $0.32 earnings per share (EPS) for the quarter. The company had revenue of $1.48 billion for the quarter. ZIM Integrated Shipping Services had a return on equity of 9.33% and a net margin of 6.94%. On average, sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post -7.24 earnings per share for the current fiscal year.

ZIM Integrated Shipping Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Friday, March 20th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Friday, March 20th. This is a positive change from ZIM Integrated Shipping Services's previous quarterly dividend of $0.31. This represents a $3.52 annualized dividend and a dividend yield of 12.4%. ZIM Integrated Shipping Services's payout ratio is presently 1.51%.

Analysts Set New Price Targets

Several research firms have recently commented on ZIM. Weiss Ratings downgraded ZIM Integrated Shipping Services from a "buy (b-)" rating to a "hold (c-)" rating in a report on Tuesday, March 10th. Fearnley Fonds upgraded ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. The Goldman Sachs Group restated a "neutral" rating and set a $21.00 price objective on shares of ZIM Integrated Shipping Services in a report on Wednesday, January 14th. Citigroup raised ZIM Integrated Shipping Services from a "sell" rating to a "neutral" rating and lifted their target price for the company from $11.50 to $31.80 in a research report on Thursday, February 19th. Finally, Barclays lifted their target price on ZIM Integrated Shipping Services from $13.70 to $15.80 and gave the company an "underweight" rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ZIM Integrated Shipping Services currently has a consensus rating of "Hold" and a consensus target price of $18.14.

ZIM Integrated Shipping Services Company Profile

ZIM Integrated Shipping Services Ltd. NYSE: ZIM is a global container shipping company specializing in the transportation of dry cargo, refrigerated goods and special project cargo. The company operates a modern fleet of container vessels that call at major ports worldwide, offering scheduled liner services and tailored logistics solutions to exporters, importers and freight forwarders.

Founded in 1945 in Haifa, Israel, ZIM has grown from a regional carrier into a worldwide operator through a series of strategic partnerships, fleet expansions and network enhancements.

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