AIA Group Ltd Acquires Shares of 39,277 Lineage, Inc. (NASDAQ:LINE)

AIA Group Ltd bought a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 39,277 shares of the company's stock, valued at approximately $2,300,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LINE. Clearbridge Investments LLC raised its position in Lineage by 41.9% in the fourth quarter. Clearbridge Investments LLC now owns 458,177 shares of the company's stock worth $26,835,000 after acquiring an additional 135,179 shares during the period. SCP Investment LP purchased a new stake in shares of Lineage during the 4th quarter worth approximately $10,543,000. Allstate Corp bought a new stake in shares of Lineage in the 4th quarter worth approximately $594,000. Brown Brothers Harriman & Co. purchased a new position in Lineage in the fourth quarter valued at approximately $879,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Lineage by 8.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 80,405 shares of the company's stock valued at $4,709,000 after purchasing an additional 6,575 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LINE shares. Mizuho dropped their price target on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Scotiabank upped their price objective on shares of Lineage from $73.00 to $74.00 and gave the company a "sector outperform" rating in a report on Monday, March 10th. Citigroup began coverage on shares of Lineage in a research note on Friday, March 28th. They issued a "neutral" rating and a $64.00 target price for the company. BNP Paribas began coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lineage presently has an average rating of "Moderate Buy" and an average price target of $79.67.

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Lineage Trading Up 2.8 %

LINE stock traded up $1.62 during mid-day trading on Wednesday, hitting $58.53. 953,885 shares of the stock were exchanged, compared to its average volume of 1,277,850. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average price of $58.48 and a 200 day moving average price of $64.35. Lineage, Inc. has a 12 month low of $52.75 and a 12 month high of $89.85.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 3.60%. The ex-dividend date is Monday, March 31st.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company's stock.

Lineage Profile

Lineage, Inc is the world's largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.