Ameriprise Financial Inc. Grows Stock Holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Ameriprise Financial Inc. boosted its position in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 37.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,804,467 shares of the company’s stock after acquiring an additional 1,042,081 shares during the quarter. Ameriprise Financial Inc.’s holdings in Full Truck Alliance were worth $41,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Aspex Management HK Ltd acquired a new stake in Full Truck Alliance in the fourth quarter valued at about $164,557,000. The Manufacturers Life Insurance Company lifted its position in Full Truck Alliance by 31.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,195,704 shares of the company’s stock valued at $12,938,000 after purchasing an additional 285,106 shares during the period. Boothbay Fund Management LLC acquired a new stake in Full Truck Alliance in the fourth quarter valued at about $485,000. Oberweis Asset Management Inc. acquired a new stake in Full Truck Alliance in the fourth quarter valued at about $238,000. Finally, Pinebridge Investments L.P. lifted its position in Full Truck Alliance by 17.2% in the fourth quarter. Pinebridge Investments L.P. now owns 1,004,308 shares of the company’s stock valued at $10,867,000 after purchasing an additional 147,258 shares during the period. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Trading Down 1.6%

YMM stock opened at $11.49 on Monday. The firm has a 50 day moving average of $11.82 and a 200-day moving average of $11.12. Full Truck Alliance Co. Ltd. has a 12-month low of $6.66 and a 12-month high of $13.85. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 27.36 and a beta of 0.20.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, April 7th were given a dividend of $0.1444 per share. This represents a dividend yield of 0.9%. This is an increase from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date of this dividend was Monday, April 7th. Full Truck Alliance’s dividend payout ratio (DPR) is presently 39.02%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Hsbc Global Res upgraded shares of Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. HSBC initiated coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They issued a “buy” rating and a $18.00 price objective for the company. Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $10.00 in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Full Truck Alliance has an average rating of “Moderate Buy” and an average target price of $14.80.

Full Truck Alliance Company Profile

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.