The Manufacturers Life Insurance Company boosted its stake in Alaska Air Group, Inc. (NYSE:ALK) by 5.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 202,158 shares of the transportation company’s stock after acquiring an additional 9,868 shares during the quarter. The Manufacturers Life Insurance Company owned 0.16% of Alaska Air Group worth $12,524,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its stake in Alaska Air Group by 307.9% in the 1st quarter. Asset Management One Co. Ltd. now owns 2,178 shares of the transportation company’s stock valued at $135,000 after acquiring an additional 1,644 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in Alaska Air Group in the 4th quarter valued at $233,000. ING Groep NV acquired a new stake in Alaska Air Group in the 1st quarter valued at $205,000. BerganKDV Wealth Management LLC acquired a new stake in Alaska Air Group in the 1st quarter valued at $208,000. Finally, Mitchell Capital Management Co. acquired a new stake in Alaska Air Group in the 4th quarter valued at $255,000. 92.83% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction on Friday, May 25th. The stock was sold at an average price of $61.87, for a total transaction of $98,992.00. Following the transaction, the executive vice president now owns 22,492 shares in the company, valued at approximately $1,391,580.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is owned by insiders.
Shares of ALK opened at $60.63 on Wednesday. Alaska Air Group, Inc. has a 52-week low of $57.53 and a 52-week high of $95.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.69 and a current ratio of 0.71. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 9.13 and a beta of 0.76.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Monday, April 23rd. The transportation company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. Alaska Air Group had a return on equity of 20.43% and a net margin of 11.64%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. analysts forecast that Alaska Air Group, Inc. will post 4.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 7th. Stockholders of record on Tuesday, May 22nd were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, May 21st. This represents a $1.28 annualized dividend and a dividend yield of 2.11%. Alaska Air Group’s dividend payout ratio is presently 19.28%.
A number of research firms recently issued reports on ALK. Imperial Capital dropped their price target on shares of Alaska Air Group from $65.00 to $62.00 and set an “inline” rating on the stock in a research note on Wednesday, June 20th. Citigroup dropped their price target on shares of Alaska Air Group from $69.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, June 18th. ValuEngine cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Morgan Stanley lifted their price target on shares of Alaska Air Group from $79.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $110.00 price target on shares of Alaska Air Group in a research note on Monday, April 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Alaska Air Group presently has an average rating of “Hold” and a consensus target price of $84.00.
Alaska Air Group Profile
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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