Verition Fund Management LLC Takes $1.10 Million Position in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Verition Fund Management LLC purchased a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIMGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,098 shares of the company’s stock, valued at approximately $1,098,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in ZIM Integrated Shipping Services during the first quarter valued at about $29,000. Financial Management Professionals Inc. grew its position in ZIM Integrated Shipping Services by 71.7% during the first quarter. Financial Management Professionals Inc. now owns 479 shares of the company’s stock valued at $35,000 after acquiring an additional 200 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in ZIM Integrated Shipping Services during the first quarter valued at about $40,000. Standard Family Office LLC purchased a new stake in ZIM Integrated Shipping Services during the fourth quarter valued at about $35,000. Finally, Accel Wealth Management purchased a new stake in ZIM Integrated Shipping Services during the first quarter valued at about $57,000. Hedge funds and other institutional investors own 42.82% of the company’s stock.

ZIM Integrated Shipping Services Trading Up 0.2 %

NYSE:ZIM opened at $28.80 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.57 and a current ratio of 1.64. ZIM Integrated Shipping Services Ltd. has a one year low of $28.33 and a one year high of $91.23. The business’s 50-day simple moving average is $43.50 and its 200 day simple moving average is $55.19. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 0.56 and a beta of 2.43.

ZIM Integrated Shipping Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Monday, August 29th were paid a $4.75 dividend. This is a boost from ZIM Integrated Shipping Services’s previous quarterly dividend of $2.85. The ex-dividend date was Friday, August 26th. This represents a $19.00 annualized dividend and a dividend yield of 65.97%. ZIM Integrated Shipping Services’s payout ratio is 36.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised ZIM Integrated Shipping Services from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $43.60 to $53.30 in a research report on Friday, June 17th. Jefferies Financial Group started coverage on ZIM Integrated Shipping Services in a research report on Wednesday, July 20th. They issued a “hold” rating and a $55.00 target price for the company. Bank of America downgraded ZIM Integrated Shipping Services from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $79.00 to $40.00 in a research report on Friday, July 1st. Clarkson Capital reaffirmed a “neutral” rating on shares of ZIM Integrated Shipping Services in a research report on Tuesday, June 14th. Finally, Barclays decreased their target price on ZIM Integrated Shipping Services from $76.00 to $63.00 and set an “equal weight” rating for the company in a research report on Friday, August 19th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, ZIM Integrated Shipping Services currently has a consensus rating of “Hold” and an average price target of $48.26.

ZIM Integrated Shipping Services Profile

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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.

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Institutional Ownership by Quarter for ZIM Integrated Shipping Services (NYSE:ZIM)

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