Franklin Resources Inc. cut its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,210,052 shares of the transportation company’s stock after selling 16,386 shares during the period. Franklin Resources Inc. owned 2.60% of Alaska Air Group worth $198,895,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Exane Derivatives purchased a new position in Alaska Air Group in the 4th quarter valued at $105,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Alaska Air Group by 55.3% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,495 shares of the transportation company’s stock valued at $186,000 after buying an additional 888 shares during the last quarter. ING Groep NV purchased a new position in Alaska Air Group in the 1st quarter valued at $205,000. Wetherby Asset Management Inc. purchased a new position in Alaska Air Group in the 4th quarter valued at $206,000. Finally, BerganKDV Wealth Management LLC purchased a new position in Alaska Air Group in the 1st quarter valued at $208,000. Institutional investors and hedge funds own 93.24% of the company’s stock.
In other Alaska Air Group news, CEO Gary L. Beck sold 6,360 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $65.10, for a total value of $414,036.00. Following the completion of the sale, the chief executive officer now owns 3,316 shares of the company’s stock, valued at $215,871.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrew R. Harrison sold 1,600 shares of the firm’s stock in a transaction on Friday, May 25th. The shares were sold at an average price of $61.87, for a total value of $98,992.00. Following the completion of the sale, the executive vice president now directly owns 22,492 shares of the company’s stock, valued at approximately $1,391,580.04. The disclosure for this sale can be found here. In the last three months, insiders sold 11,813 shares of company stock valued at $763,191. 0.56% of the stock is owned by corporate insiders.
Alaska Air Group (NYSE:ALK) last released its earnings results on Monday, April 23rd. The transportation company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Alaska Air Group had a return on equity of 20.43% and a net margin of 11.64%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $1.12 earnings per share. Alaska Air Group’s quarterly revenue was up 4.7% compared to the same quarter last year. analysts predict that Alaska Air Group, Inc. will post 5.29 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Tuesday, May 22nd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Monday, May 21st. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.28%.
A number of equities analysts recently weighed in on ALK shares. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price objective on shares of Alaska Air Group in a research report on Monday, April 23rd. TheStreet lowered shares of Alaska Air Group from a “b-” rating to a “c+” rating in a research report on Monday, April 2nd. JPMorgan Chase & Co. lowered shares of Alaska Air Group from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $65.48 to $67.00 in a research report on Tuesday, January 30th. Morgan Stanley lowered their price objective on shares of Alaska Air Group from $77.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, April 12th. Finally, ValuEngine lowered shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $85.00.
Alaska Air Group Profile
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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