The Manufacturers Life Insurance Company Boosts Position in KANZHUN LIMITED Sponsored ADR $BZ

Key Points

• The Manufacturers Life Insurance Company increased its stake in KANZHUN LIMITED by 12.1% during Q1, purchasing an additional 269,349 shares, now owning 2,492,263 shares valued at approximately $47.8 million.
• Kanzhun has announced a full-year dividend of $0.084 per share, which will be paid on October 23, representing a substantial 60% dividend yield.
• Several research firms have upgraded KANZHUN’s stock ratings, with Jefferies Financial Group raising its price target from $20 to $24, while UBS Group set a target price of $26.

The Manufacturers Life Insurance Company grew its stake in KANZHUN LIMITED Sponsored ADR (NASDAQ:BZ - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,492,263 shares of the company's stock after purchasing an additional 269,349 shares during the period. The Manufacturers Life Insurance Company owned about 0.64% of KANZHUN worth $47,777,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. First Trust Advisors LP boosted its position in KANZHUN by 7.7% in the 4th quarter. First Trust Advisors LP now owns 13,927 shares of the company's stock worth $192,000 after purchasing an additional 999 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in KANZHUN in the 1st quarter worth approximately $25,000. APG Asset Management N.V. boosted its position in KANZHUN by 5.3% in the 1st quarter. APG Asset Management N.V. now owns 45,300 shares of the company's stock worth $804,000 after purchasing an additional 2,300 shares in the last quarter. Brooklyn Investment Group boosted its position in KANZHUN by 3,115.4% in the 1st quarter. Brooklyn Investment Group now owns 2,926 shares of the company's stock worth $56,000 after purchasing an additional 2,835 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in KANZHUN by 7.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 45,585 shares of the company's stock worth $874,000 after purchasing an additional 3,322 shares in the last quarter. Hedge funds and other institutional investors own 60.67% of the company's stock.

KANZHUN Trading Down 0.1%

BZ stock traded down $0.03 during midday trading on Friday, reaching $23.98. The stock had a trading volume of 3,431,050 shares, compared to its average volume of 4,576,790. The company's fifty day simple moving average is $20.49 and its 200 day simple moving average is $18.30. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 35.79 and a beta of 0.44. KANZHUN LIMITED Sponsored ADR has a 52-week low of $11.81 and a 52-week high of $24.33.

KANZHUN Dividend Announcement

The company also recently disclosed a full year 25 dividend, which will be paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th will be issued a $0.084 dividend. The ex-dividend date is Wednesday, October 8th. This represents a yield of 60.0%.

Analysts Set New Price Targets

BZ has been the topic of a number of recent analyst reports. Barclays increased their target price on KANZHUN from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Daiwa America raised shares of KANZHUN from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 2nd. Zacks Research cut shares of KANZHUN from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. UBS Group raised shares of KANZHUN from a "neutral" rating to a "buy" rating and set a $26.00 price target on the stock in a research note on Thursday, August 21st. Finally, Jefferies Financial Group lifted their price target on shares of KANZHUN from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $21.17.

KANZHUN Profile

Kanzhun Limited, together with its subsidiaries, provides online recruitment services in the People's Republic of China. The company offers its recruitment services through a mobile app under the BOSS Zhipin brand name. Its services allow enterprise customers to access and interact with job seekers and manage their recruitment process.