Allianz Asset Management GmbH boosted its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 569,683 shares of the transportation company’s stock after buying an additional 9,869 shares during the quarter. Allianz Asset Management GmbH owned about 0.46% of Alaska Air Group worth $43,450,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Alaska Air Group by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,183 shares of the transportation company’s stock valued at $824,000 after purchasing an additional 24 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Alaska Air Group by 0.4% in the second 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 in the last quarter. MML Investors Services LLC increased its stake in shares of Alaska Air Group by 1.0% in the second 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 in the last quarter. Empirical Finance LLC increased its stake in shares of Alaska Air Group by 0.3% in the second quarter. Empirical Finance LLC now owns 25,002 shares of the transportation company’s stock worth $2,245,000 after purchasing an additional 72 shares in the last quarter. Finally, Sentry Investment Management LLC increased its stake in shares of Alaska Air Group by 1.1% in the second quarter. Sentry Investment Management LLC now owns 9,125 shares of the transportation company’s stock worth $819,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 88.46% of the company’s stock.
In other news, CEO David L. Campbell sold 4,934 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the completion of the transaction, the chief executive officer now directly owns 9,648 shares of the company’s stock, valued at approximately $656,064. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrew R. Harrison sold 540 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $65.53, for a total value 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 disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
Shares of Alaska Air Group, Inc. (NYSE:ALK) opened at $69.37 on Friday. Alaska Air Group, Inc. has a fifty-two week low of $61.10 and a fifty-two week high of $101.43. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $8,346.14, a PE ratio of 9.22 and a beta of 1.03.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, October 25th. The transportation company reported $2.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.02). Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm earned $2.20 EPS. Alaska Air Group’s revenue for the quarter was up 35.4% on a year-over-year basis. research analysts anticipate that Alaska Air Group, Inc. will post 6.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Tuesday, November 21st were paid 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 1.73%. Alaska Air Group’s payout ratio is 19.26%.
Several equities analysts recently commented on ALK shares. Bank of America reduced their price objective on shares of Alaska Air Group from $100.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Morgan Stanley restated an “overweight” rating on shares of Alaska Air Group in a report on Monday, September 18th. Stifel Nicolaus reduced their target price on shares of Alaska Air Group from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Macquarie started coverage on shares of Alaska Air Group in a research note on Monday, September 25th. They issued an “outperform” rating and a $94.00 price objective on the stock. Finally, Raymond James Financial upgraded shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $85.00 to $80.00 in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $91.27.
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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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