CENTRAL TRUST Co cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 19.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,130 shares of the transportation company’s stock after selling 1,271 shares during the period. CENTRAL TRUST Co’s holdings in Alaska Air Group were worth $460,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mackenzie Financial Corp purchased a new position in shares of Alaska Air Group during the first quarter valued at $64,763,000. BlackRock Inc. increased its position in Alaska Air Group by 4,899.5% in the first quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock worth $643,668,000 after buying an additional 6,840,090 shares in the last quarter. State Street Corp increased its position in Alaska Air Group by 4.8% in the first quarter. State Street Corp now owns 4,553,574 shares of the transportation company’s stock worth $419,926,000 after buying an additional 208,195 shares in the last quarter. FMR LLC increased its position in Alaska Air Group by 48.3% in the first quarter. FMR LLC now owns 1,810,921 shares of the transportation company’s stock worth $167,003,000 after buying an additional 589,937 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Alaska Air Group by 3.2% in the first quarter. Geode Capital Management LLC now owns 1,221,333 shares of the transportation company’s stock worth $112,506,000 after buying an additional 37,413 shares in the last quarter. 93.43% of the stock is owned by hedge funds and other institutional investors.
Shares of Alaska Air Group, Inc. (ALK) traded up 0.81% during trading on Friday, hitting $84.47. The company’s stock had a trading volume of 1,137,003 shares. Alaska Air Group, Inc. has a 1-year low of $64.19 and a 1-year high of $101.43. The company has a market capitalization of $10.43 billion, a P/E ratio of 13.74 and a beta of 0.95. The firm’s 50 day moving average is $89.00 and its 200-day moving average is $90.62.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the business posted $2.12 EPS. Alaska Air Group’s revenue for the quarter was up 40.7% compared to the same quarter last year. Analysts forecast that Alaska Air Group, Inc. will post $7.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, August 18th. Alaska Air Group’s payout ratio is presently 19.48%.
A number of research firms have recently commented on ALK. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price objective on shares of Alaska Air Group in a research note on Friday, May 26th. BidaskClub downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Morgan Stanley boosted their target price on Alaska Air Group from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, April 28th. Cowen and Company upgraded Alaska Air Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $102.00 to $103.00 in a report on Monday, April 24th. Finally, Bank of America Corporation boosted their target price on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $105.41.
In other news, EVP Andrew R. Harrison sold 2,350 shares of Alaska Air Group stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $86.03, for a total transaction of $202,170.50. Following the sale, the executive vice president now owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bradley D. Tilden sold 2,400 shares of Alaska Air Group stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the sale, the chairman now directly owns 140,346 shares in the company, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. Insiders have sold a total of 28,550 shares of company stock worth $2,547,642 in the last three months. 0.57% of the stock is owned by insiders.
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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