Korea Investment CORP grew its position in shares of American Airlines Group Inc (NASDAQ:AAL) by 166.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 34,900 shares of the airline’s stock after purchasing an additional 21,800 shares during the quarter. Korea Investment CORP’s holdings in American Airlines Group were worth $1,442,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of AAL. Cornerstone Wealth Management LLC purchased a new position in shares of American Airlines Group in the second quarter worth approximately $208,000. Piedmont Investment Advisors LLC purchased a new position in shares of American Airlines Group in the second quarter worth approximately $185,000. Commonwealth Equity Services LLC boosted its holdings in shares of American Airlines Group by 8.5% in the second quarter. Commonwealth Equity Services LLC now owns 62,818 shares of the airline’s stock worth $2,385,000 after buying an additional 4,901 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of American Airlines Group by 4.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 407,454 shares of the airline’s stock worth $15,467,000 after buying an additional 16,937 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of American Airlines Group in the second quarter worth approximately $757,000. Institutional investors own 81.16% of the company’s stock.
A number of research firms recently issued reports on AAL. Goldman Sachs Group began coverage on shares of American Airlines Group in a report on Monday, November 12th. They issued a “buy” rating and a $44.00 price objective on the stock. Bank of America lowered their price target on shares of American Airlines Group from $61.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Zacks Investment Research reaffirmed a “hold” rating on shares of American Airlines Group in a report on Monday, November 12th. BidaskClub raised shares of American Airlines Group from a “sell” rating to a “hold” rating in a report on Thursday, September 20th. Finally, JPMorgan Chase & Co. set a $46.00 price target on shares of American Airlines Group and gave the company a “buy” rating in a report on Tuesday, October 30th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. American Airlines Group has a consensus rating of “Buy” and a consensus price target of $50.53.
American Airlines Group (NASDAQ:AAL) last released its quarterly earnings data on Thursday, October 25th. The airline reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $11.56 billion for the quarter, compared to analysts’ expectations of $11.55 billion. American Airlines Group had a net margin of 3.06% and a return on equity of 568.86%. On average, sell-side analysts expect that American Airlines Group Inc will post 4.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, November 5th. American Airlines Group’s payout ratio is currently 8.20%.
In related news, Director Jeffrey D. Benjamin acquired 15,000 shares of American Airlines Group stock in a transaction dated Monday, November 19th. The shares were purchased at an average price of $35.69 per share, for a total transaction of $535,350.00. Following the completion of the transaction, the director now directly owns 22,146 shares in the company, valued at approximately $790,390.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John T. Cahill acquired 25,000 shares of American Airlines Group stock in a transaction dated Monday, October 29th. The shares were bought at an average price of $33.47 per share, for a total transaction of $836,750.00. Following the transaction, the director now owns 6,531 shares of the company’s stock, valued at $218,592.57. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.
American Airlines Group Profile
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2017, the company operated a mainline fleet of 948 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, and Phoenix, as well as in Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.
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