Envestnet Asset Management Inc. increased its position in Alaska Air Group, Inc. (NYSE:ALK) by 70.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,847 shares of the transportation company’s stock after acquiring an additional 24,365 shares during the period. Envestnet Asset Management Inc.’s holdings in Alaska Air Group were worth $4,487,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Alaska Air Group by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,829,247 shares of the transportation company’s stock valued at $1,061,794,000 after buying an additional 261,887 shares during the period. Egerton Capital UK LLP boosted its holdings in shares of Alaska Air Group by 51.6% in the third quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock worth $341,422,000 after buying an additional 1,524,149 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Alaska Air Group by 4.6% during the second quarter. Franklin Resources Inc. now owns 3,348,411 shares of the transportation company’s stock worth $300,554,000 after purchasing an additional 148,061 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Alaska Air Group by 22.8% during the third quarter. Principal Financial Group Inc. now owns 1,510,663 shares of the transportation company’s stock worth $115,218,000 after purchasing an additional 280,075 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Alaska Air Group by 10.8% during the second quarter. Ameriprise Financial Inc. now owns 1,491,104 shares of the transportation company’s stock worth $133,835,000 after purchasing an additional 145,328 shares during the period. 88.57% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on ALK shares. Bank of America cut their price objective on shares of Alaska Air Group from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, October 13th. Zacks Investment Research raised shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a research report on Monday, September 18th. Stifel Nicolaus dropped their target price on shares of Alaska Air Group from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Finally, Macquarie began coverage on shares of Alaska Air Group in a research note on Monday, September 25th. They set an “outperform” rating and a $94.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $91.18.
In other news, EVP Andrew R. Harrison sold 540 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $65.53, for a total transaction of $35,386.20. Following the completion of the transaction, the executive vice president now directly owns 20,788 shares in the company, valued at $1,362,237.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total value of $335,512.00. Following the completion of the sale, the chief executive officer now owns 9,648 shares of the company’s stock, valued at $656,064. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.
Shares of Alaska Air Group, Inc. (NYSE ALK) traded up $1.50 on Tuesday, hitting $75.01. The company had a trading volume of 1,732,000 shares, compared to its average volume of 1,680,000. Alaska Air Group, Inc. has a 1-year low of $61.10 and a 1-year high of $101.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78. The firm has a market cap of $9,230.00, a price-to-earnings ratio of 12.02 and a beta of 1.03.
Alaska Air Group (NYSE:ALK) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.02). Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company posted $2.20 EPS. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. research analysts anticipate that Alaska Air Group, Inc. will post 6.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.60%. The ex-dividend date was Monday, November 20th. Alaska Air Group’s payout ratio is 19.23%.
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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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