Perigon Wealth Management LLC Acquires New Holdings in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Perigon Wealth Management LLC purchased a new stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 36,020 shares of the company's stock, valued at approximately $773,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in ZIM Integrated Shipping Services by 59.4% in the third quarter. JPMorgan Chase & Co. now owns 1,811,447 shares of the company's stock worth $46,482,000 after buying an additional 674,723 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of ZIM Integrated Shipping Services by 2,228.7% in the 3rd quarter. International Assets Investment Management LLC now owns 402,862 shares of the company's stock worth $10,337,000 after acquiring an additional 385,562 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of ZIM Integrated Shipping Services by 9,573.0% during the third quarter. Quantbot Technologies LP now owns 370,477 shares of the company's stock valued at $9,506,000 after purchasing an additional 366,647 shares during the last quarter. Millennium Management LLC boosted its position in shares of ZIM Integrated Shipping Services by 306.7% in the 2nd quarter. Millennium Management LLC now owns 425,795 shares of the company's stock valued at $9,440,000 after purchasing an additional 321,100 shares during the period. Finally, SG Americas Securities LLC increased its stake in ZIM Integrated Shipping Services by 1,226.7% in the 3rd quarter. SG Americas Securities LLC now owns 343,581 shares of the company's stock worth $8,816,000 after purchasing an additional 317,684 shares in the last quarter. Institutional investors own 21.42% of the company's stock.

ZIM Integrated Shipping Services Stock Up 2.2 %

ZIM stock traded up $0.38 during midday trading on Tuesday, reaching $17.56. The company had a trading volume of 3,793,259 shares, compared to its average volume of 5,593,391. The company has a 50 day moving average of $19.54 and a two-hundred day moving average of $20.45. The company has a current ratio of 1.33, a quick ratio of 1.26 and a debt-to-equity ratio of 1.11. ZIM Integrated Shipping Services Ltd. has a 1 year low of $9.08 and a 1 year high of $30.15. The company has a market capitalization of $2.11 billion, a P/E ratio of 1.47, a PEG ratio of 0.23 and a beta of 1.77.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $2.81 per share. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.93. The ex-dividend date was Monday, December 2nd. This represents a $11.24 dividend on an annualized basis and a yield of 64.02%. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is presently 9.72%.

Analysts Set New Price Targets

A number of analysts have commented on ZIM shares. Jefferies Financial Group reduced their price objective on shares of ZIM Integrated Shipping Services from $28.00 to $22.00 and set a "hold" rating for the company in a research note on Tuesday, December 17th. Clarkson Capital upgraded shares of ZIM Integrated Shipping Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Barclays lowered their price objective on shares of ZIM Integrated Shipping Services from $16.50 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, January 10th. Finally, Fearnley Fonds lowered ZIM Integrated Shipping Services from a "hold" rating to a "strong sell" rating in a report on Thursday, November 21st. Five analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $15.04.

ZIM Integrated Shipping Services Profile

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.