LS Investment Advisors LLC increased its holdings in shares of Alaska Air Group (NYSE:ALK) by 32.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,021 shares of the transportation company’s stock after purchasing an additional 1,238 shares during the period. LS Investment Advisors LLC’s holdings in Alaska Air Group were worth $311,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in ALK. OppenheimerFunds Inc. lifted its holdings in shares of Alaska Air Group by 12,449.2% during the 4th quarter. OppenheimerFunds Inc. now owns 1,560,244 shares of the transportation company’s stock valued at $114,693,000 after purchasing an additional 1,547,811 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Alaska Air Group by 166.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 1,335,938 shares of the transportation company’s stock valued at $82,775,000 after purchasing an additional 833,758 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Alaska Air Group by 636.5% during the 1st quarter. American Century Companies Inc. now owns 813,683 shares of the transportation company’s stock valued at $50,416,000 after purchasing an additional 703,203 shares in the last quarter. Element Capital Management LLC bought a new position in shares of Alaska Air Group during the 4th quarter valued at about $46,474,000. Finally, BlackRock Inc. lifted its holdings in shares of Alaska Air Group by 9.3% during the 4th quarter. BlackRock Inc. now owns 7,310,003 shares of the transportation company’s stock valued at $537,358,000 after purchasing an additional 621,021 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.
ALK has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on Alaska Air Group from $77.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, April 12th. Buckingham Research cut their target price on Alaska Air Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday, January 26th. Stifel Nicolaus restated a “buy” rating and issued a $110.00 target price on shares of Alaska Air Group in a research note on Monday, April 23rd. TheStreet cut Alaska Air Group from a “b-” rating to a “c+” rating in a research note on Monday, April 2nd. Finally, ValuEngine cut Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $85.00.
In other Alaska Air Group news, VP Christopher Michael Berry sold 460 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $97.00, for a total transaction of $44,620.00. Following the transaction, the vice president now owns 1,997 shares of the company’s stock, valued at approximately $193,709. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary L. Beck sold 6,360 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $65.10, for a total value of $414,036.00. Following the transaction, the chief executive officer now directly owns 3,316 shares in the company, valued at approximately $215,871.60. The disclosure for this sale can be found here. Insiders have sold a total of 10,673 shares of company stock worth $708,819 in the last ninety days. Insiders own 0.56% of the company’s stock.
Alaska Air Group opened at $58.21 on Monday, Marketbeat reports. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 10.18 and a beta of 0.75. Alaska Air Group has a twelve month low of $57.60 and a twelve month high of $95.75. The company has a current ratio of 0.71, a quick ratio of 0.69 and a debt-to-equity ratio of 0.60.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Monday, April 23rd. The transportation company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.83 billion. Alaska Air Group had a return on equity of 20.43% and a net margin of 11.64%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 EPS. research analysts forecast that Alaska Air Group will post 5.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Tuesday, May 22nd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, May 21st. Alaska Air Group’s dividend payout ratio (DPR) is 19.28%.
About Alaska Air Group
Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.
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