The Manufacturers Life Insurance Company Makes New Investment in Alaska Air Group, Inc. $ALK

The Manufacturers Life Insurance Company purchased a new position in Alaska Air Group, Inc. (NYSE:ALK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 80,619 shares of the transportation company’s stock, valued at approximately $4,208,000.

Several other hedge funds also recently made changes to their positions in ALK. BlackRock Inc. bought a new stake in shares of Alaska Air Group during the 2nd quarter valued at $606,307,000. Vanguard Group Inc. boosted its stake in Alaska Air Group by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 11,059,404 shares of the transportation company’s stock worth $556,288,000 after purchasing an additional 110,628 shares during the period. Dimensional Fund Advisors LP boosted its stake in Alaska Air Group by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,348,163 shares of the transportation company’s stock worth $233,463,000 after purchasing an additional 145,484 shares during the period. Capital Research Global Investors grew its holdings in Alaska Air Group by 86.8% during the 4th quarter. Capital Research Global Investors now owns 3,175,350 shares of the transportation company’s stock valued at $159,720,000 after buying an additional 1,475,350 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Alaska Air Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,149,777 shares of the transportation company’s stock valued at $108,166,000 after buying an additional 35,352 shares in the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Benito Minicucci purchased 25,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $40.06 per share, with a total value of $1,001,500.00. Following the purchase, the chief executive officer directly owned 256,582 shares in the company, valued at approximately $10,278,674.92. This represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew R. Harrison sold 5,300 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $49.67, for a total transaction of $263,251.00. Following the completion of the transaction, the executive vice president directly owned 25,528 shares in the company, valued at $1,267,975.76. The trade was a 17.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ALK shares. BMO Capital Markets increased their price target on shares of Alaska Air Group from $55.00 to $62.50 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Barclays set a $65.00 price objective on shares of Alaska Air Group and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Cantor Fitzgerald set a $46.00 target price on shares of Alaska Air Group in a report on Monday, August 24th. TD Cowen reiterated a “buy” rating and issued a $46.00 target price (down from $59.00) on shares of Alaska Air Group in a research note on Monday, August 24th. Finally, Weiss Ratings downgraded shares of Alaska Air Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 18th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average target price of $61.88.

Alaska Air Group Price Performance

Shares of NYSE ALK opened at $40.59 on Wednesday. The stock’s 50-day simple moving average is $47.12 and its two-hundred day simple moving average is $44.60. Alaska Air Group, Inc. has a twelve month low of $33.03 and a twelve month high of $65.88. The firm has a market capitalization of $4.52 billion, a P/E ratio of -25.85 and a beta of 1.28. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.58.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Tuesday, July 21st. The transportation company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.07. Alaska Air Group had a negative return on equity of 3.11% and a negative net margin of 1.19%.The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter last year, the company posted $1.42 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Alaska Air Group has set its Q3 2026 guidance at 0.000-1.000 EPS. As a group, equities analysts anticipate that Alaska Air Group, Inc. will post -1.76 EPS for the current fiscal year.

About Alaska Air Group

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.