Assenagon Asset Management S.A. purchased a new position in shares of American Airlines Group, Inc. (NASDAQ:AAL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,682 shares of the airline’s stock, valued at approximately $270,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Exane Derivatives raised its position in American Airlines Group by 416.3% in the third quarter. Exane Derivatives now owns 2,592 shares of the airline’s stock worth $123,000 after acquiring an additional 2,090 shares in the last quarter. Shell Asset Management Co. raised its position in American Airlines Group by 287.3% in the third quarter. Shell Asset Management Co. now owns 26,043 shares of the airline’s stock worth $924,000 after acquiring an additional 19,318 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new position in American Airlines Group in the second quarter worth $167,000. Lord Abbett & CO. LLC raised its position in American Airlines Group by 257.0% in the second quarter. Lord Abbett & CO. LLC now owns 176,700 shares of the airline’s stock worth $8,892,000 after acquiring an additional 127,200 shares in the last quarter. Finally, Sentry Investment Management LLC raised its position in American Airlines Group by 1.5% in the second quarter. Sentry Investment Management LLC now owns 115,440 shares of the airline’s stock worth $5,809,000 after acquiring an additional 1,671 shares in the last quarter. Institutional investors and hedge funds own 82.74% of the company’s stock.
Several research firms have issued reports on AAL. Morgan Stanley reiterated an “equal weight” rating and issued a $54.00 price objective (up previously from $53.00) on shares of American Airlines Group in a research report on Monday, July 17th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $52.00 price objective on shares of American Airlines Group in a research report on Thursday, July 13th. Citigroup Inc. upped their target price on American Airlines Group from $58.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, July 13th. BidaskClub raised American Airlines Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. Finally, Imperial Capital reissued an “in-line” rating and issued a $49.00 target price (up previously from $43.00) on shares of American Airlines Group in a report on Sunday, July 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $57.72.
In other American Airlines Group news, EVP Elise R. Eberwein sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $50.35, for a total value of $2,517,500.00. Following the completion of the sale, the executive vice president now owns 312,368 shares of the company’s stock, valued at $15,727,728.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ray M. Robinson sold 3,476 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $46.76, for a total value of $162,537.76. Following the completion of the sale, the director now directly owns 29,938 shares of the company’s stock, valued at approximately $1,399,900.88. The disclosure for this sale can be found here. Insiders sold 63,476 shares of company stock worth $3,159,738 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.
American Airlines Group, Inc. (AAL) opened at 47.56 on Friday. The stock has a 50 day moving average price of $48.97 and a 200-day moving average price of $48.20. American Airlines Group, Inc. has a 12-month low of $39.21 and a 12-month high of $54.48. The stock has a market capitalization of $23.16 billion, a P/E ratio of 11.81 and a beta of 0.99.
American Airlines Group (NASDAQ:AAL) last issued its earnings results on Thursday, October 26th. The airline reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. American Airlines Group had a return on equity of 64.92% and a net margin of 4.71%. The firm had revenue of $10.88 billion for the quarter, compared to the consensus estimate of $10.88 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts expect that American Airlines Group, Inc. will post $4.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.84%. American Airlines Group’s dividend payout ratio (DPR) is currently 10.18%.
About American Airlines Group
American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.
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