US Bancorp DE cut its stake in Alaska Air Group, Inc. (NYSE:ALK) by 28.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,197 shares of the transportation company’s stock after selling 2,915 shares during the period. US Bancorp DE’s holdings in Alaska Air Group were worth $529,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of ALK. Exane Derivatives acquired a new position in shares of Alaska Air Group in the 4th quarter worth approximately $105,000. Mercer Capital Advisers Inc. acquired a new position in shares of Alaska Air Group in the 3rd quarter worth approximately $116,000. Bank of Nova Scotia Trust Co. acquired a new position in shares of Alaska Air Group in the 3rd quarter worth approximately $153,000. Harbour Capital Advisors LLC acquired a new position in shares of Alaska Air Group in the 3rd quarter worth approximately $200,000. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Alaska Air Group in the 3rd quarter worth approximately $207,000. 88.17% of the stock is owned by institutional investors and hedge funds.
ALK has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 target price for the company. in a report on Wednesday, November 1st. UBS Group raised Alaska Air Group from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, November 15th. Raymond James Financial raised Alaska Air Group from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $85.00 to $80.00 in a report on Wednesday, November 15th. Morgan Stanley set a $78.00 target price on Alaska Air Group and gave the stock a “buy” rating in a report on Thursday, November 16th. Finally, ValuEngine raised Alaska Air Group from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $87.53.
Shares of Alaska Air Group, Inc. (NYSE ALK) opened at $64.98 on Friday. The company has a market capitalization of $7,992.35, a P/E ratio of 7.85, a P/E/G ratio of 3.35 and a beta of 0.85. Alaska Air Group, Inc. has a 12-month low of $59.25 and a 12-month high of $101.43. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.61.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. Alaska Air Group had a return on equity of 24.39% and a net margin of 12.96%. Alaska Air Group’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.56 EPS. analysts anticipate that Alaska Air Group, Inc. will post 5.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Tuesday, February 20th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, February 16th. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. Alaska Air Group’s dividend payout ratio is 15.46%.
In other Alaska Air Group news, VP Christopher Michael Berry sold 460 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $97.00, for a total value of $44,620.00. Following the transaction, the vice president now directly owns 1,997 shares in the company, valued at approximately $193,709. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David L. Campbell sold 4,934 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of the transaction, the chief executive officer now owns 9,648 shares in the company, valued at $656,064. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,634 shares of company stock worth $591,396. 0.57% of the stock is owned by corporate insiders.
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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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