Clearbridge Investments LLC boosted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 0.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,313,946 shares of the transportation company’s stock after purchasing an additional 6,217 shares during the period. Clearbridge Investments LLC owned about 1.07% of Alaska Air Group worth $96,588,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in ALK. Exane Derivatives purchased a new position in Alaska Air Group during the fourth quarter valued at approximately $105,000. Bank of Nova Scotia Trust Co. purchased a new position in Alaska Air Group during the third quarter valued at approximately $153,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Alaska Air Group by 55.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,495 shares of the transportation company’s stock valued at $186,000 after purchasing an additional 888 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Alaska Air Group during the third quarter valued at approximately $200,000. Finally, Wetherby Asset Management Inc. purchased a new position in Alaska Air Group during the fourth quarter valued at approximately $206,000. 86.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Alaska Air Group, Inc. (ALK) opened at $64.80 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.77. The company has a market cap of $7,970.18, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 3.33 and a beta of 0.84. Alaska Air Group, Inc. has a 1 year low of $59.25 and a 1 year high of $98.30.
Alaska Air Group (NYSE:ALK) last posted its earnings results on Thursday, January 25th. The transportation company reported $0.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.39%. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 earnings per share. sell-side analysts predict that Alaska Air Group, Inc. will post 5.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.98%. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, February 16th. Alaska Air Group’s payout ratio is currently 15.46%.
A number of research analysts recently commented on the stock. Morgan Stanley set a $78.00 price objective on shares of Alaska Air Group and gave the company a “buy” rating in a research report on Friday, February 23rd. UBS Group downgraded shares of Alaska Air Group from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. Imperial Capital reaffirmed an “in-line” rating and set a $66.00 price objective (down from $70.00) on shares of Alaska Air Group in a research report on Thursday, February 1st. JPMorgan Chase & Co. downgraded shares of Alaska Air Group from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $65.48 to $67.00 in a research report on Tuesday, January 30th. Finally, Buckingham Research lowered their price objective on shares of Alaska Air Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $87.53.
In other Alaska Air Group news, CEO Gary L. Beck sold 6,360 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were 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 directly owns 3,316 shares of the company’s stock, valued at $215,871.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 2,350 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $64.88, for a total transaction of $152,468.00. Following the sale, the executive vice president now directly owns 24,092 shares of the company’s stock, valued at $1,563,088.96. The disclosure for this sale can be found here. Insiders sold 13,373 shares of company stock valued at $884,697 over the last three months. Insiders own 0.57% of the company’s stock.
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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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