Norinchukin Bank The lowered its stake in Alaska Air Group, Inc. (NYSE:ALK) by 71.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 8,023 shares of the transportation company’s stock after selling 20,112 shares during the period. Norinchukin Bank The’s holdings in Alaska Air Group were worth $740,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ALK. World Asset Management Inc boosted its position in shares of Alaska Air Group by 1.6% in the third quarter. World Asset Management Inc now owns 12,323 shares of the transportation company’s stock valued at $812,000 after buying an additional 197 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Alaska Air Group by 6.5% in the third quarter. Wells Fargo & Company MN now owns 658,844 shares of the transportation company’s stock valued at $43,391,000 after buying an additional 40,327 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in shares of Alaska Air Group by 20.2% in the third quarter. Tocqueville Asset Management L.P. now owns 11,920 shares of the transportation company’s stock valued at $785,000 after buying an additional 2,000 shares in the last quarter. Weatherly Asset Management L. P. acquired a new position in shares of Alaska Air Group during the third quarter valued at approximately $242,000. Finally, Mutual of America Capital Management LLC boosted its position in shares of Alaska Air Group by 2.7% in the third quarter. Mutual of America Capital Management LLC now owns 97,597 shares of the transportation company’s stock valued at $6,428,000 after buying an additional 2,594 shares in the last quarter. 89.01% of the stock is currently owned by institutional investors.
Alaska Air Group, Inc. (NYSE:ALK) traded up 2.21% during mid-day trading on Friday, hitting $84.57. 1,201,626 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $87.13 and its 200-day moving average price is $88.90. Alaska Air Group, Inc. has a 12 month low of $54.51 and a 12 month high of $101.43. The stock has a market cap of $10.45 billion, a PE ratio of 14.40 and a beta of 0.80.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Wednesday, April 26th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. Alaska Air Group had a net margin of 13.72% and a return on equity of 33.50%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company posted $1.45 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities analysts expect that Alaska Air Group, Inc. will post $7.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Tuesday, May 23rd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, May 19th. Alaska Air Group’s dividend payout ratio is presently 16.79%.
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Several research analysts have recently commented on ALK shares. Cowen and Company lowered their target price on shares of Alaska Air Group from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Thursday, February 9th. Stifel Nicolaus reissued a “hold” rating and issued a $105.00 price objective on shares of Alaska Air Group in a research note on Thursday, February 9th. Imperial Capital lifted their price objective on shares of Alaska Air Group from $84.00 to $101.00 and gave the company an “in-line” rating in a research note on Friday, February 10th. Morgan Stanley reissued an “overweight” rating and issued a $113.00 price objective on shares of Alaska Air Group in a research note on Wednesday, February 22nd. Finally, Zacks Investment Research cut shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 7th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Alaska Air Group presently has an average rating of “Buy” and an average target price of $103.62.
In other news, Chairman Bradley D. Tilden sold 4,700 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $84.63, for a total value of $397,761.00. Following the transaction, the chairman now owns 148,646 shares of the company’s stock, valued at approximately $12,579,910.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Katherine J. Savitt sold 1,831 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $96.11, for a total transaction of $175,977.41. Following the completion of the transaction, the director now directly owns 1,372 shares in the company, valued at approximately $131,862.92. The disclosure for this sale can be found here. Insiders sold a total of 46,936 shares of company stock worth $4,458,417 over the last quarter. Corporate insiders own 0.68% of the company’s stock.
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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