American International Group Inc. decreased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,829 shares of the transportation company’s stock after selling 5,722 shares during the period. American International Group Inc.’s holdings in Alaska Air Group were worth $2,809,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. acquired a new position in Alaska Air Group during the 3rd quarter worth $116,000. Mountain Capital Investment Advisors Inc acquired a new position in Alaska Air Group during the 2nd quarter worth $122,000. Bessemer Group Inc. grew its holdings in Alaska Air Group by 57.9% during the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock worth $171,000 after acquiring an additional 695 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Alaska Air Group during the 3rd quarter worth $200,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Alaska Air Group during the 3rd quarter worth $207,000. 88.46% of the stock is currently owned by hedge funds and other institutional investors.
In other Alaska Air Group news, CEO David L. Campbell sold 4,934 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $68.00, for a total transaction of $335,512.00. Following the sale, the chief executive officer now directly owns 9,648 shares in the company, valued at approximately $656,064. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew R. Harrison sold 540 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $65.53, for a total transaction of $35,386.20. Following the sale, the executive vice president now owns 20,788 shares in the company, valued at $1,362,237.64. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
Several research firms have recently commented on ALK. Barclays decreased their price target on shares of Alaska Air Group from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Cowen decreased their price target on shares of Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, September 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a report on Monday, September 18th. Stifel Nicolaus decreased their price target on shares of Alaska Air Group from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Finally, Deutsche Bank decreased their price target on shares of Alaska Air Group from $99.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $91.27.
Shares of Alaska Air Group, Inc. (NYSE ALK) opened at $69.74 on Friday. The firm has a market cap of $8,535.63, a PE ratio of 9.43 and a beta of 1.03. Alaska Air Group, Inc. has a 52-week low of $61.10 and a 52-week high of $101.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The company’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. equities analysts predict that Alaska Air Group, Inc. will post 6.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st were given a dividend of $0.30 per share. The ex-dividend date was Monday, November 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.72%. Alaska Air Group’s dividend payout ratio (DPR) is 19.26%.
Alaska Air Group Profile
Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska), Virgin America Inc, Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska’s and Virgin America’s scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba.
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