Smithfield Trust Co. boosted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,391 shares of the transportation company’s stock after buying an additional 189 shares during the period. Smithfield Trust Co.’s holdings in Alaska Air Group were worth $215,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Strs Ohio raised its position in shares of Alaska Air Group by 22.2% in the first quarter. Strs Ohio now owns 5,555 shares of the transportation company’s stock valued at $512,000 after buying an additional 1,008 shares in the last quarter. Sit Investment Associates Inc. raised its position in shares of Alaska Air Group by 25.3% in the first quarter. Sit Investment Associates Inc. now owns 223,000 shares of the transportation company’s stock valued at $20,565,000 after buying an additional 45,050 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Alaska Air Group during the first quarter valued at $238,000. Quantitative Systematic Strategies LLC bought a new position in shares of Alaska Air Group during the first quarter valued at $2,683,000. Finally, Private Wealth Partners LLC bought a new position in shares of Alaska Air Group during the first quarter valued at $740,000. Institutional investors and hedge funds own 93.43% of the company’s stock.
Shares of Alaska Air Group, Inc. (NYSE:ALK) opened at 86.00 on Tuesday. Alaska Air Group, Inc. has a 52-week low of $64.19 and a 52-week high of $101.43. The stock’s 50 day moving average is $89.87 and its 200 day moving average is $90.99. The company has a market capitalization of $10.62 billion, a P/E ratio of 13.99 and a beta of 0.95.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results 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 analysts’ expectations of $2.10 billion. During the same period last year, the business earned $2.12 earnings per share. The company’s revenue was up 40.7% on a year-over-year basis. Equities analysts expect that Alaska Air Group, Inc. will post $7.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.40%. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.48%.
Several brokerages have recently weighed in on ALK. BidaskClub upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Morgan Stanley dropped their price objective on shares of Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, July 17th. Cowen and Company reiterated an “outperform” rating and set a $103.00 price objective on shares of Alaska Air Group in a report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Tuesday, July 4th. Finally, Bank of America Corporation upped their price objective on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $105.41.
In related news, Chairman Bradley D. Tilden sold 5,600 shares of Alaska Air Group stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $94.48, for a total transaction of $529,088.00. Following the completion of the transaction, the chairman now directly owns 145,546 shares of the company’s stock, valued at approximately $13,751,186.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Bradley D. Tilden sold 4,700 shares of Alaska Air Group stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $84.63, for a total transaction of $397,761.00. Following the transaction, the chairman now directly owns 148,646 shares of the company’s stock, valued at $12,579,910.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,800 shares of company stock valued at $2,139,479. 0.57% of the stock is currently owned by corporate insiders.
Alaska Air Group Company Profile
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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