Cerity Partners LLC Trims Stake in Alaska Air Group, Inc. (ALK)

Cerity Partners LLC cut its position in Alaska Air Group, Inc. (NYSE:ALK) by 16.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 48,985 shares of the transportation company’s stock after selling 9,807 shares during the quarter. Cerity Partners LLC’s holdings in Alaska Air Group were worth $2,981,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Schroder Investment Management Group boosted its position in shares of Alaska Air Group by 17.8% in the 2nd quarter. Schroder Investment Management Group now owns 27,887 shares of the transportation company’s stock worth $1,682,000 after buying an additional 4,216 shares in the last quarter. Atria Investments LLC boosted its position in shares of Alaska Air Group by 49.1% in the 3rd quarter. Atria Investments LLC now owns 5,896 shares of the transportation company’s stock worth $406,000 after buying an additional 1,941 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Alaska Air Group by 24.4% in the 3rd quarter. Raymond James Trust N.A. now owns 6,542 shares of the transportation company’s stock worth $451,000 after buying an additional 1,285 shares in the last quarter. Verity & Verity LLC purchased a new stake in shares of Alaska Air Group in the 3rd quarter worth about $250,000. Finally, Cornerstone Wealth Management LLC boosted its position in shares of Alaska Air Group by 197.9% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 75,680 shares of the transportation company’s stock worth $941,000 after buying an additional 152,966 shares in the last quarter. Institutional investors own 92.84% of the company’s stock.

In other news, Director J Kenneth Thompson sold 2,500 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $73.12, for a total transaction of $182,800.00. Following the completion of the transaction, the director now owns 36,353 shares of the company’s stock, valued at approximately $2,658,131.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

NYSE ALK opened at $66.70 on Thursday. Alaska Air Group, Inc. has a 12 month low of $57.28 and a 12 month high of $74.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.69. The stock has a market cap of $8.30 billion, a PE ratio of 14.96, a P/E/G ratio of 1.74 and a beta of 0.88.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, January 24th. The transportation company reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. Alaska Air Group had a net margin of 5.29% and a return on equity of 15.20%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts expect that Alaska Air Group, Inc. will post 6.71 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Tuesday, February 19th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.32. Alaska Air Group’s dividend payout ratio is currently 28.70%.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday, December 31st. ValuEngine downgraded shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. Bank of America reissued a “neutral” rating and issued a $71.00 target price (up previously from $63.00) on shares of Alaska Air Group in a research note on Thursday, November 29th. Imperial Capital reissued an “outperform” rating and issued a $90.00 target price (down previously from $93.00) on shares of Alaska Air Group in a research note on Monday, January 28th. Finally, Vertical Research started coverage on shares of Alaska Air Group in a research note on Monday, February 4th. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.50.

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About Alaska Air Group

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 destinations across the United States, Mexico, Canada, and Costa Rica.

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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