The Manufacturers Life Insurance Company Acquires 285,106 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

The Manufacturers Life Insurance Company raised its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 31.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,195,704 shares of the company's stock after buying an additional 285,106 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Full Truck Alliance worth $12,938,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Boothbay Fund Management LLC purchased a new stake in shares of Full Truck Alliance in the 4th quarter worth about $485,000. Oberweis Asset Management Inc. bought a new stake in shares of Full Truck Alliance in the 4th quarter worth $238,000. Pinebridge Investments L.P. increased its holdings in Full Truck Alliance by 17.2% in the 4th quarter. Pinebridge Investments L.P. now owns 1,004,308 shares of the company's stock worth $10,867,000 after buying an additional 147,258 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Full Truck Alliance by 14.9% in the fourth quarter. Hsbc Holdings PLC now owns 2,480,430 shares of the company's stock worth $26,858,000 after acquiring an additional 321,796 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Full Truck Alliance during the 4th quarter valued at $752,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Price Performance

Shares of YMM stock traded down $0.47 during trading hours on Wednesday, hitting $11.63. The stock had a trading volume of 5,042,038 shares, compared to its average volume of 9,165,568. The stock's 50-day moving average price is $11.83 and its two-hundred day moving average price is $11.05. Full Truck Alliance Co. Ltd. has a one year low of $6.66 and a one year high of $13.85. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 27.68 and a beta of 0.20.

Full Truck Alliance Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, April 7th were issued a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. This is a boost from Full Truck Alliance's previous annual dividend of $0.14. The ex-dividend date was Monday, April 7th. Full Truck Alliance's dividend payout ratio is 39.02%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on YMM. Barclays increased their target price on Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. HSBC initiated coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. cut shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $18.00 to $10.00 in a report on Monday, April 14th. Industrial Alliance Securities set a $18.00 price objective on Full Truck Alliance in a research note on Thursday, March 6th. Finally, Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $14.80.

About Full Truck Alliance

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.