Strs Ohio lessened its stake in Alaska Air Group, Inc. (NYSE:ALK) by 43.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,345 shares of the transportation company’s stock after selling 4,808 shares during the period. Strs Ohio’s holdings in Alaska Air Group were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. Lau Associates LLC increased its position in Alaska Air Group by 51.6% in the 4th quarter. Lau Associates LLC now owns 31,300 shares of the transportation company’s stock valued at $2,301,000 after acquiring an additional 10,650 shares during the period. Steward Partners Investment Advisory LLC increased its position in Alaska Air Group by 28,224.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,214 shares of the transportation company’s stock valued at $603,000 after acquiring an additional 8,185 shares during the period. State of Alaska Department of Revenue increased its position in Alaska Air Group by 39.6% in the 4th quarter. State of Alaska Department of Revenue now owns 22,321 shares of the transportation company’s stock valued at $1,639,000 after acquiring an additional 6,330 shares during the period. Gateway Investment Advisers LLC increased its position in Alaska Air Group by 5.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 117,702 shares of the transportation company’s stock valued at $8,652,000 after acquiring an additional 5,683 shares during the period. Finally, Gibraltar Capital Management Inc. acquired a new position in Alaska Air Group in the 4th quarter valued at about $4,532,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.
Several equities analysts recently issued reports on ALK shares. Zacks Investment Research upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Buckingham Research dropped their price target on Alaska Air Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Stifel Nicolaus restated a “buy” rating and issued a $105.00 price target (down previously from $115.00) on shares of Alaska Air Group in a research report on Wednesday, January 10th. Standpoint Research started coverage on Alaska Air Group in a research report on Monday, December 18th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Raymond James Financial upgraded Alaska Air Group from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $85.00 to $80.00 in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.68.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. Alaska Air Group had a return on equity of 24.40% and a net margin of 12.96%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the company earned $1.56 EPS. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. equities research analysts forecast that Alaska Air Group, Inc. will post 5.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 16th. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. Alaska Air Group’s payout ratio is currently 14.49%.
In other Alaska Air Group news, 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 sale, the chief executive officer now owns 9,648 shares of the company’s stock, valued at approximately $656,064. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 540 shares of Alaska Air Group stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $65.53, for a total value of $35,386.20. Following the completion of the sale, the executive vice president now directly owns 20,788 shares in the company, valued at approximately $1,362,237.64. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.
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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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