Migdal Insurance & Financial Holdings Ltd. Boosts Stake in ZIM Integrated Shipping Services Ltd. (NYSE:ZIM)

Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of ZIM Integrated Shipping Services Ltd. (NYSE:ZIM - Free Report) by 39.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 388,000 shares of the company's stock after purchasing an additional 110,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.32% of ZIM Integrated Shipping Services worth $9,956,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZIM. Renaissance Technologies LLC increased its holdings in ZIM Integrated Shipping Services by 479.9% in the second quarter. Renaissance Technologies LLC now owns 2,635,500 shares of the company's stock valued at $58,429,000 after buying an additional 2,181,000 shares in the last quarter. Marshall Wace LLP grew its position in shares of ZIM Integrated Shipping Services by 638.6% during the 2nd quarter. Marshall Wace LLP now owns 2,397,311 shares of the company's stock valued at $53,148,000 after acquiring an additional 2,072,715 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of ZIM Integrated Shipping Services in the 2nd quarter valued at about $14,383,000. International Assets Investment Management LLC raised its holdings in 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 purchasing an additional 385,562 shares during the period. Finally, Millennium Management LLC boosted its position in ZIM Integrated Shipping Services by 306.7% during the second quarter. Millennium Management LLC now owns 425,795 shares of the company's stock worth $9,440,000 after purchasing an additional 321,100 shares in the last quarter. Hedge funds and other institutional investors own 21.42% of the company's stock.

ZIM Integrated Shipping Services Price Performance

ZIM stock traded down $0.54 during mid-day trading on Friday, reaching $24.77. The company's stock had a trading volume of 4,639,881 shares, compared to its average volume of 4,935,138. The stock has a market cap of $2.98 billion, a PE ratio of -1.52, a P/E/G ratio of 0.04 and a beta of 1.88. The company's 50 day moving average is $21.20 and its two-hundred day moving average is $19.65. ZIM Integrated Shipping Services Ltd. has a fifty-two week low of $6.39 and a fifty-two week high of $26.20. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.41.

ZIM Integrated Shipping Services (NYSE:ZIM - Get Free Report) last announced its quarterly earnings data on Monday, August 19th. The company reported $3.08 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $1.01. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.71 billion. ZIM Integrated Shipping Services had a positive return on equity of 2.89% and a negative net margin of 32.81%. During the same quarter last year, the business posted ($1.37) earnings per share. Equities research analysts expect that ZIM Integrated Shipping Services Ltd. will post 12.11 EPS for the current year.

ZIM Integrated Shipping Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 29th were given a dividend of $0.93 per share. This is a boost from ZIM Integrated Shipping Services's previous quarterly dividend of $0.23. This represents a $3.72 annualized dividend and a yield of 15.02%. The ex-dividend date was Thursday, August 29th. ZIM Integrated Shipping Services's dividend payout ratio (DPR) is presently -1.41%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ZIM shares. Barclays upped their target price on ZIM Integrated Shipping Services from $12.30 to $13.90 and gave the stock an "underweight" rating in a research note on Wednesday, October 23rd. Bank of America boosted their target price on shares of ZIM Integrated Shipping Services from $12.20 to $13.70 and gave the stock an "underperform" rating in a research note on Wednesday, August 28th. Jefferies Financial Group cut ZIM Integrated Shipping Services from a "buy" rating to a "hold" rating and set a $25.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. restated an "underweight" rating and issued a $10.50 target price on shares of ZIM Integrated Shipping Services in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating and one has given a hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $15.22.

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.