Norges Bank Takes $101.65 Million Position in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Norges Bank purchased a new position in Full Truck Alliance Co. Ltd. (NYSE:YMM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,394,530 shares of the company’s stock, valued at approximately $101,649,000.

A number of other institutional investors have also added to or reduced their stakes in YMM. JPMorgan Chase & Co. grew its position in shares of Full Truck Alliance by 37.8% in the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company’s stock worth $409,811,000 after buying an additional 10,383,716 shares during the period. Brilliance Asset Management Ltd. grew its holdings in Full Truck Alliance by 29.5% in the fourth quarter. Brilliance Asset Management Ltd. now owns 4,193,580 shares of the company’s stock worth $45,375,000 after purchasing an additional 954,124 shares during the period. AI Squared Management Ltd bought a new position in shares of Full Truck Alliance during the fourth quarter valued at approximately $3,159,000. Keystone Investors PTE Ltd. purchased a new position in shares of Full Truck Alliance during the fourth quarter valued at approximately $6,405,000. Finally, Taikang Asset Management Hong Kong Co Ltd lifted its holdings in shares of Full Truck Alliance by 354.5% during the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 1,363,614 shares of the company’s stock valued at $14,754,000 after purchasing an additional 1,063,614 shares during the last quarter. Institutional investors own 39.02% of the company’s stock.

Full Truck Alliance Stock Performance

NYSE YMM opened at $12.81 on Wednesday. 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 50-day moving average of $12.36 and a 200 day moving average of $10.68. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 30.49 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The company also recently announced an annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Monday, April 7th will be given a $0.1444 dividend. This represents a yield of 0.9%. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. The ex-dividend date of this dividend is Monday, April 7th. Full Truck Alliance’s dividend payout ratio (DPR) is presently 39.02%.

Analysts Set New Price Targets

YMM has been the topic of several recent research reports. Hsbc Global Res raised Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Citigroup increased their target price on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays lifted their price target on Full Truck Alliance from $7.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $13.00 to $18.00 in a research report on Thursday, March 6th. Finally, Industrial Alliance Securities set a $18.00 target price on shares of Full Truck Alliance in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Full Truck Alliance presently has a consensus rating of “Buy” and a consensus price target of $16.40.

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.