Norinchukin Bank The decreased its stake in Alaska Air Group, Inc. (NYSE:ALK) by 71.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,023 shares of the transportation company’s stock after selling 20,112 shares during the period. Norinchukin Bank The’s holdings in Alaska Air Group were worth $740,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in Alaska Air Group by 15.8% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,267,436 shares of the transportation company’s stock valued at $742,073,000 after buying an additional 1,536,507 shares in the last quarter. Norges Bank acquired a new position in Alaska Air Group during the fourth quarter valued at $41,906,000. Smead Capital Management Inc. acquired a new position in Alaska Air Group during the third quarter valued at $24,125,000. AQR Capital Management LLC boosted its position in Alaska Air Group by 44.7% in the fourth quarter. AQR Capital Management LLC now owns 1,154,307 shares of the transportation company’s stock valued at $102,422,000 after buying an additional 356,710 shares in the last quarter. Finally, FMR LLC boosted its position in Alaska Air Group by 35.0% in the fourth quarter. FMR LLC now owns 1,220,984 shares of the transportation company’s stock valued at $108,338,000 after buying an additional 316,843 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.
Shares of Alaska Air Group, Inc. (NYSE:ALK) traded up 2.21% during trading on Friday, reaching $84.57. The company had a trading volume of 1,201,626 shares. Alaska Air Group, Inc. has a 12 month low of $54.51 and a 12 month high of $101.43. The firm has a 50 day moving average price of $87.13 and a 200 day moving average price of $88.90. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 14.40 and a beta of 0.80.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, April 26th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.77 billion. Alaska Air Group had a net margin of 13.72% and a return on equity of 33.50%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the business posted $1.45 earnings per share. Analysts predict that Alaska Air Group, Inc. will post $7.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Shareholders of record on Tuesday, May 23rd will be given a dividend of $0.30 per share. The ex-dividend date is Friday, May 19th. This represents a $1.20 annualized dividend and a yield of 1.42%. Alaska Air Group’s dividend payout ratio (DPR) is presently 16.79%.
Several equities analysts recently weighed in on ALK shares. Cowen and Company reissued a “market perform” rating and set a $100.00 price objective on shares of Alaska Air Group in a research report on Tuesday, March 28th. Morgan Stanley boosted their price objective on Alaska Air Group from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, April 28th. Stifel Nicolaus raised Alaska Air Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $145.00 in a research report on Monday, March 20th. Vetr raised Alaska Air Group from a “hold” rating to a “strong-buy” rating and set a $124.48 price objective for the company in a research report on Monday, March 20th. Finally, Zacks Investment Research cut Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 7th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $103.62.
In other Alaska Air Group news, VP Mark G. Eliasen sold 1,723 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $96.28, for a total transaction of $165,890.44. Following the completion of the sale, the vice president now directly owns 4,794 shares in the company, valued at $461,566.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katherine J. Savitt sold 1,831 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $96.11, for a total transaction of $175,977.41. Following the sale, the director now owns 1,372 shares of the company’s stock, valued at $131,862.92. The disclosure for this sale can be found here. Insiders have sold 46,936 shares of company stock valued at $4,458,417 over the last 90 days. Company insiders own 0.68% of the company’s stock.
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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