Federated Investors Inc. PA increased its position in shares of Alaska Air Group (NYSE:ALK) by 29.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 516,176 shares of the transportation company’s stock after purchasing an additional 117,601 shares during the quarter. Federated Investors Inc. PA owned approximately 0.42% of Alaska Air Group worth $31,982,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Guyasuta Investment Advisors Inc. acquired a new stake in shares of Alaska Air Group during the 1st quarter worth about $372,000. Ceredex Value Advisors LLC acquired a new stake in shares of Alaska Air Group during the 1st quarter worth about $50,482,000. Lateef Investment Management L.P. increased its position in shares of Alaska Air Group by 51.1% during the 1st quarter. Lateef Investment Management L.P. now owns 497,241 shares of the transportation company’s stock worth $30,809,000 after purchasing an additional 168,100 shares in the last quarter. Afam Capital Inc. increased its position in shares of Alaska Air Group by 10.8% during the 1st quarter. Afam Capital Inc. now owns 15,984 shares of the transportation company’s stock worth $990,000 after purchasing an additional 1,557 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of Alaska Air Group by 16.2% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,351,907 shares of the transportation company’s stock worth $83,764,000 after purchasing an additional 188,942 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. ValuEngine lowered shares of Alaska Air Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Imperial Capital reissued an “in-line” rating and set a $71.00 price objective (up previously from $68.00) on shares of Alaska Air Group in a report on Tuesday, April 24th. Zacks Investment Research lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 20th. Finally, Citigroup increased their price objective on shares of Alaska Air Group from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, April 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Alaska Air Group presently has an average rating of “Hold” and a consensus price target of $85.00.
Shares of NYSE:ALK opened at $58.42 on Thursday. Alaska Air Group has a 12 month low of $57.53 and a 12 month 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 stock has a market cap of $7.17 billion, a price-to-earnings ratio of 8.80 and a beta of 0.75.
Alaska Air Group (NYSE:ALK) last issued its earnings results on Monday, April 23rd. The transportation company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.83 billion. Alaska Air Group had a net margin of 11.64% and a return on equity of 20.43%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. analysts expect that Alaska Air Group will post 5.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 7th. Stockholders of record on Tuesday, May 22nd will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, May 21st. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.28%.
In other news, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $64.88, for a total value of $152,468.00. Following the transaction, the executive vice president now owns 24,092 shares of the company’s stock, valued at approximately $1,563,088.96. The sale 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 firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $65.10, for a total transaction of $414,036.00. Following the completion of 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 sold a total of 10,213 shares of company stock worth $664,199 in the last ninety days. Insiders own 0.57% of the company’s stock.
Alaska Air Group Company 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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