Man Group plc Decreases Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Man Group plc decreased its holdings in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 86.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,629 shares of the company's stock after selling 69,483 shares during the period. Man Group plc's holdings in ZIM Integrated Shipping Services were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ZIM. Renaissance Technologies LLC boosted its holdings in ZIM Integrated Shipping Services by 50.0% in the 4th quarter. Renaissance Technologies LLC now owns 5,726,631 shares of the company's stock worth $122,951,000 after buying an additional 1,909,480 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in ZIM Integrated Shipping Services by 33.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,784,352 shares of the company's stock valued at $81,250,000 after buying an additional 940,587 shares in the last quarter. Marshall Wace LLP raised its position in shares of ZIM Integrated Shipping Services by 6.9% during the fourth quarter. Marshall Wace LLP now owns 1,936,666 shares of the company's stock valued at $41,580,000 after buying an additional 124,558 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of ZIM Integrated Shipping Services by 39.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,389,034 shares of the company's stock worth $29,823,000 after buying an additional 393,215 shares in the last quarter. Finally, Jump Financial LLC boosted its position in shares of ZIM Integrated Shipping Services by 19.1% during the fourth quarter. Jump Financial LLC now owns 890,867 shares of the company's stock worth $19,127,000 after acquiring an additional 142,669 shares during the last quarter. 21.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ZIM shares. JPMorgan Chase & Co. cut their price objective on ZIM Integrated Shipping Services from $10.00 to $9.50 and set an "underweight" rating for the company in a research report on Friday, March 7th. Bank of America lowered their target price on ZIM Integrated Shipping Services from $16.00 to $12.80 and set an "underperform" rating for the company in a research report on Friday, April 11th. Barclays upped their price target on shares of ZIM Integrated Shipping Services from $12.00 to $14.20 and gave the company an "underweight" rating in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of ZIM Integrated Shipping Services from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Tuesday, May 20th. Finally, Clarkson Capital downgraded shares of ZIM Integrated Shipping Services from a "buy" rating to a "neutral" rating and set a $20.00 price target for the company. in a report on Tuesday, May 20th. Five investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $14.42.

ZIM Integrated Shipping Services Trading Up 1.9%

Shares of ZIM traded up $0.33 during trading hours on Friday, reaching $17.56. 8,629,141 shares of the company traded hands, compared to its average volume of 6,163,285. The stock's fifty day moving average price is $15.18 and its 200 day moving average price is $18.26. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 1.47, a PEG ratio of 0.27 and a beta of 1.84. ZIM Integrated Shipping Services Ltd. has a 12-month low of $11.04 and a 12-month high of $30.15.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last issued its earnings results on Monday, May 19th. The company reported $2.45 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.56. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.84 billion. ZIM Integrated Shipping Services had a net margin of 19.26% and a return on equity of 48.63%. During the same period in the prior year, the firm earned $0.75 EPS. Sell-side analysts forecast that ZIM Integrated Shipping Services Ltd. will post 16.75 earnings per share for the current year.

ZIM Integrated Shipping Services Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.74 per share. The ex-dividend date is Monday, June 2nd. This represents a yield of 16.96%. ZIM Integrated Shipping Services's payout ratio is currently 5.94%.

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.