Dai Ichi Life Insurance Company Ltd cut its stake in shares of Lumen Technologies, Inc. (NYSE:LUMN) by 93.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,813 shares of the technology company’s stock after selling 151,099 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Lumen Technologies were worth $147,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of LUMN. FMR LLC boosted its position in Lumen Technologies by 114.1% during the first quarter. FMR LLC now owns 2,433,165 shares of the technology company’s stock valued at $29,174,000 after purchasing an additional 1,296,573 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Lumen Technologies by 9.2% in the first quarter. Rockefeller Capital Management L.P. now owns 19,328 shares of the technology company’s stock valued at $258,000 after buying an additional 1,622 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Lumen Technologies by 22.1% in the first quarter. Teacher Retirement System of Texas now owns 104,470 shares of the technology company’s stock valued at $1,395,000 after buying an additional 18,886 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV acquired a new stake in shares of Lumen Technologies in the first quarter valued at approximately $134,000. Finally, Brinker Capital Investments LLC lifted its position in shares of Lumen Technologies by 180.4% in the first quarter. Brinker Capital Investments LLC now owns 39,382 shares of the technology company’s stock valued at $526,000 after buying an additional 25,336 shares during the last quarter. 75.50% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Steven T. Clontz acquired 5,000 shares of the stock in a transaction on Monday, August 23rd. The shares were purchased at an average price of $11.98 per share, for a total transaction of $59,900.00. Following the purchase, the director now directly owns 297,515 shares in the company, valued at $3,564,229.70. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.
Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, August 3rd. The technology company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.05. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $5 billion. Lumen Technologies had a positive return on equity of 16.28% and a negative net margin of 4.65%. Analysts forecast that Lumen Technologies, Inc. will post 1.66 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Monday, August 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.25%. Lumen Technologies’s dividend payout ratio (DPR) is currently 59.88%.
A number of research firms have recently issued reports on LUMN. Morgan Stanley cut their price objective on Lumen Technologies from $12.10 to $11.00 and set an “underweight” rating for the company in a research report on Monday, August 23rd. Zacks Investment Research raised Lumen Technologies from a “sell” rating to a “hold” rating and set a $14.00 price objective for the company in a research report on Thursday, August 5th.
About Lumen Technologies
Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.
See Also: 52-Week High/Low
Want to see what other hedge funds are holding LUMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumen Technologies, Inc. (NYSE:LUMN).
Receive News & Ratings for Lumen Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumen Technologies and related companies with MarketBeat.com's FREE daily email newsletter.