Mutual of America Capital Management LLC trimmed its stake in Alaska Air Group, Inc. (NYSE:ALK) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,195 shares of the transportation company’s stock after selling 102 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.08% of Alaska Air Group worth $9,173,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Mackenzie Financial Corp acquired a new stake in shares of Alaska Air Group in the first quarter valued at approximately $64,763,000. BlackRock Inc. lifted its position in shares of 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 valued at $643,668,000 after buying an additional 6,840,090 shares during the last quarter. Egerton Capital UK LLP acquired a new stake in shares of Alaska Air Group in the second quarter valued at approximately $265,002,000. Principal Financial Group Inc. lifted its position in shares of Alaska Air Group by 149.3% in the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after buying an additional 737,020 shares during the last quarter. Finally, AGF Investments Inc. acquired a new stake in shares of Alaska Air Group in the first quarter valued at approximately $67,733,000. Hedge funds and other institutional investors own 87.76% of the company’s stock.
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A number of analysts have recently issued reports on ALK shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Alaska Air Group in a research report on Friday, May 26th. Cowen and Company reaffirmed an “outperform” rating and issued a $103.00 price objective on shares of Alaska Air Group in a research report on Tuesday, June 20th. BidaskClub cut Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Bank of America Corporation raised their price objective on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, June 30th. Finally, Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $106.55.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 5,600 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $94.48, for a total value of $529,088.00. Following the sale, the chairman now owns 145,546 shares in the company, valued at approximately $13,751,186.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the completion of the sale, the chairman now owns 140,346 shares in the company, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,350 shares of company stock worth $937,251. 0.57% of the stock is owned by corporate insiders.
Alaska Air Group, Inc. (NYSE ALK) traded down 2.75% during mid-day trading on Monday, reaching $73.21. The company had a trading volume of 955,629 shares. The stock has a market capitalization of $9.04 billion, a PE ratio of 11.91 and a beta of 1.00. The company’s 50-day moving average is $79.30 and its 200-day moving average is $87.26. Alaska Air Group, Inc. has a one year low of $64.19 and a one year high of $101.43.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.01). Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the firm earned $2.12 EPS. The company’s revenue was up 40.7% on a year-over-year basis. Equities research analysts anticipate that Alaska Air Group, Inc. will post $7.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, August 18th. Alaska Air Group’s dividend payout ratio (DPR) is 19.48%.
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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