TD Asset Management Inc. Raises Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

TD Asset Management Inc. lifted its position in Alaska Air Group, Inc. (NYSE:ALK) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 259,897 shares of the transportation company’s stock after buying an additional 21,127 shares during the period. TD Asset Management Inc.’s holdings in Alaska Air Group were worth $16,610,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Keybank National Association OH grew its position in Alaska Air Group by 63.0% during the 2nd quarter. Keybank National Association OH now owns 19,051 shares of the transportation company’s stock worth $1,218,000 after purchasing an additional 7,362 shares during the last quarter. Wedbush Securities Inc. grew its position in Alaska Air Group by 18.9% during the 2nd quarter. Wedbush Securities Inc. now owns 8,372 shares of the transportation company’s stock worth $535,000 after purchasing an additional 1,332 shares during the last quarter. Janus Henderson Group PLC grew its position in Alaska Air Group by 168.3% during the 2nd quarter. Janus Henderson Group PLC now owns 29,938 shares of the transportation company’s stock worth $1,913,000 after purchasing an additional 18,781 shares during the last quarter. Aperio Group LLC grew its position in Alaska Air Group by 25.3% during the 2nd quarter. Aperio Group LLC now owns 34,343 shares of the transportation company’s stock worth $2,195,000 after purchasing an additional 6,928 shares during the last quarter. Finally, Pegasus Partners Ltd. purchased a new stake in Alaska Air Group during the 2nd quarter worth approximately $597,000. 87.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ALK opened at $60.36 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 0.75. Alaska Air Group, Inc. has a 12 month low of $53.39 and a 12 month high of $74.83. The company has a 50 day simple moving average of $63.54 and a two-hundred day simple moving average of $61.32. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.46 and a beta of 0.86.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.11 by $0.06. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the business posted $1.66 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Alaska Air Group, Inc. will post 5.89 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, August 19th. Alaska Air Group’s payout ratio is 31.39%.

In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of Alaska Air Group stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $157,950.00. Following the completion of the sale, the vice president now directly owns 8,039 shares in the company, valued at approximately $522,535. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.43% of the company’s stock.

Several analysts have weighed in on the stock. Macquarie downgraded shares of Alaska Air Group from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $79.00 to $63.00 in a research report on Monday, July 29th. TheStreet raised shares of Alaska Air Group from a “c” rating to a “b” rating in a research report on Thursday, July 25th. Morgan Stanley boosted their target price on shares of Alaska Air Group from $76.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. ValuEngine downgraded shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $71.00 to $72.00 in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $73.36.

About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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