Advisor Group Inc. lessened its position in Alaska Air Group, Inc. (NYSE:ALK) by 13.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,849 shares of the transportation company’s stock after selling 3,050 shares during the quarter. Advisor Group Inc.’s holdings in Alaska Air Group were worth $1,438,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Alaska Air Group by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,183 shares of the transportation company’s stock worth $824,000 after purchasing an additional 24 shares during the last quarter. ING Groep NV grew its position in Alaska Air Group by 0.5% in the 2nd quarter. ING Groep NV now owns 6,325 shares of the transportation company’s stock worth $568,000 after purchasing an additional 32 shares during the last quarter. CIBC Asset Management Inc grew its position in Alaska Air Group by 0.4% in the 2nd quarter. CIBC Asset Management Inc now owns 11,691 shares of the transportation company’s stock worth $1,049,000 after purchasing an additional 44 shares during the last quarter. MML Investors Services LLC grew its position in Alaska Air Group by 1.0% in the 2nd quarter. MML Investors Services LLC now owns 5,392 shares of the transportation company’s stock worth $484,000 after purchasing an additional 51 shares during the last quarter. Finally, Empirical Finance LLC boosted its position in shares of Alaska Air Group by 0.3% during the 2nd quarter. Empirical Finance LLC now owns 25,002 shares of the transportation company’s stock valued at $2,245,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 88.46% of the company’s stock.
In related news, EVP Andrew R. Harrison sold 540 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $65.53, for a total transaction of $35,386.20. Following the transaction, the executive vice president now directly owns 20,788 shares of the company’s stock, valued at $1,362,237.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on ALK. ValuEngine upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley set a $78.00 target price on shares of Alaska Air Group and gave the company a “buy” rating in a research report on Thursday, November 16th. Raymond James Financial upgraded shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $85.00 to $80.00 in a research report on Wednesday, November 15th. UBS upgraded shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, November 15th. Finally, J P Morgan Chase & Co lowered shares of Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 price target on the stock. in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $91.27.
Alaska Air Group, Inc. (ALK) traded up $1.37 during trading on Monday, hitting $68.28. 3,425,916 shares of the stock traded hands, compared to its average volume of 1,488,428. Alaska Air Group, Inc. has a 12 month low of $61.10 and a 12 month high of $101.43. The firm has a market capitalization of $8,400.00, a PE ratio of 9.09 and a beta of 1.03. 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 announced its earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.13 billion. Alaska Air Group had a return on equity of 28.74% and a net margin of 10.34%. The business’s revenue for the quarter was up 35.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. equities research analysts forecast that Alaska Air Group, Inc. will post 6.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, November 20th. Alaska Air Group’s payout ratio is presently 19.23%.
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About Alaska Air Group
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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