The Manufacturers Life Insurance Company Has $19.13 Million Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Key Points

• The Manufacturers Life Insurance Company increased its stake in Full Truck Alliance Co. Ltd. by 25.3%, acquiring an additional 302,381 shares, bringing its total to 1,498,085 shares valued at $19.13 million.
• Full Truck Alliance plans to pay an annual dividend of $0.096 per share on October 27, with a yield of 60.0% and a payout ratio of 28.57%.
• Citigroup has reduced their target price on Full Truck Alliance shares from $16.50 to $16.00, while maintaining a "buy" rating, indicating a cautious outlook for the stock.

The Manufacturers Life Insurance Company raised its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,498,085 shares of the company's stock after purchasing an additional 302,381 shares during the period. The Manufacturers Life Insurance Company owned 0.14% of Full Truck Alliance worth $19,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlas Capital Advisors Inc. acquired a new position in shares of Full Truck Alliance in the first quarter valued at $29,000. Brooklyn Investment Group increased its holdings 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 valued at $31,000 after purchasing an additional 2,046 shares during the last quarter. US Bancorp DE acquired a new position in shares of Full Truck Alliance in the first quarter valued at $40,000. Summit Securities Group LLC boosted its position in shares of Full Truck Alliance by 1,466.6% in the first quarter. Summit Securities Group LLC now owns 5,013 shares of the company's stock valued at $64,000 after acquiring an additional 4,693 shares during the period. Finally, Wolverine Trading LLC bought a new stake in shares of Full Truck Alliance in the fourth quarter valued at about $115,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

Shares of Full Truck Alliance stock opened at $13.20 on Wednesday. The firm has a 50-day moving average of $11.97 and a 200-day moving average of $11.94. The stock has a market cap of $13.81 billion, a PE ratio of 23.58 and a beta of 0.21. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52-week low of $7.00 and a 52-week high of $13.85.

Full Truck Alliance Cuts Dividend

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

Wall Street Analyst Weigh In

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

Full Truck Alliance Company 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.

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