Northern Trust Corp reduced its position in American Airlines Group Inc (NASDAQ:AAL) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,061,383 shares of the airline’s stock after selling 12,065 shares during the quarter. Northern Trust Corp’s holdings in American Airlines Group were worth $132,442,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Neuburgh Advisers LLC grew its holdings in shares of American Airlines Group by 149.2% during the 2nd quarter. Neuburgh Advisers LLC now owns 12,080 shares of the airline’s stock valued at $394,000 after purchasing an additional 7,232 shares during the last quarter. Natixis Advisors L.P. grew its holdings in shares of American Airlines Group by 1.2% during the 2nd quarter. Natixis Advisors L.P. now owns 47,488 shares of the airline’s stock valued at $1,549,000 after purchasing an additional 555 shares during the last quarter. Riverhead Capital Management LLC boosted its position in American Airlines Group by 145.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 13,603 shares of the airline’s stock worth $444,000 after buying an additional 8,050 shares during the period. Pacer Advisors Inc. boosted its position in American Airlines Group by 4.7% during the 2nd quarter. Pacer Advisors Inc. now owns 67,313 shares of the airline’s stock worth $2,195,000 after buying an additional 2,994 shares during the period. Finally, Cetera Advisors LLC boosted its position in American Airlines Group by 9.4% during the 2nd quarter. Cetera Advisors LLC now owns 7,670 shares of the airline’s stock worth $250,000 after buying an additional 657 shares during the period. 79.11% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the stock. Credit Suisse Group downgraded shares of American Airlines Group from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $32.00 to $30.00 in a research report on Monday, July 8th. Barclays cut their target price on shares of American Airlines Group from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Citigroup set a $54.00 target price on shares of American Airlines Group and gave the stock a “buy” rating in a research report on Friday, July 26th. Buckingham Research cut their target price on shares of American Airlines Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Morgan Stanley cut their target price on shares of American Airlines Group from $26.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. American Airlines Group presently has a consensus rating of “Hold” and a consensus price target of $40.76.
American Airlines Group (NASDAQ:AAL) last issued its quarterly earnings results on Thursday, July 25th. The airline reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.05. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.98 billion. American Airlines Group had a net margin of 3.35% and a negative return on equity of 588.10%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.63 EPS. On average, equities research analysts expect that American Airlines Group Inc will post 4.9 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.33%. American Airlines Group’s dividend payout ratio (DPR) is currently 8.79%.
In related news, President Robert D. Isom, Jr. acquired 2,500 shares of the stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $26.34 per share, for a total transaction of $65,850.00. Following the purchase, the president now directly owns 771,271 shares of the company’s stock, valued at approximately $20,315,278.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ray M. Robinson sold 6,930 shares of American Airlines Group stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $29.11, for a total transaction of $201,732.30. Following the completion of the sale, the director now owns 29,754 shares of the company’s stock, valued at approximately $866,138.94. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.
About American Airlines Group
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, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and 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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