American International Group Inc. lowered its position in shares of Southwest Airlines (NYSE:LUV) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,694 shares of the airline’s stock after selling 1,812 shares during the quarter. American International Group Inc.’s holdings in Southwest Airlines were worth $11,610,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC grew its holdings in shares of Southwest Airlines by 15.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,580 shares of the airline’s stock valued at $431,000 after purchasing an additional 878 shares during the last quarter. Buckingham Asset Management LLC grew its holdings in shares of Southwest Airlines by 14.5% during the fourth quarter. Buckingham Asset Management LLC now owns 7,004 shares of the airline’s stock valued at $458,000 after purchasing an additional 886 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Southwest Airlines by 13.0% during the fourth quarter. D.A. Davidson & CO. now owns 7,890 shares of the airline’s stock valued at $516,000 after purchasing an additional 905 shares during the last quarter. First Allied Advisory Services Inc. grew its holdings in shares of Southwest Airlines by 4.2% during the fourth quarter. First Allied Advisory Services Inc. now owns 26,246 shares of the airline’s stock valued at $1,718,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its holdings in shares of Southwest Airlines by 10.4% during the fourth quarter. Koshinski Asset Management Inc. now owns 12,256 shares of the airline’s stock valued at $802,000 after purchasing an additional 1,155 shares during the last quarter. 82.94% of the stock is owned by institutional investors.
Shares of Southwest Airlines opened at $52.47 on Friday, Marketbeat Ratings reports. Southwest Airlines has a 12-month low of $51.61 and a 12-month high of $52.98. The company has a market capitalization of $29.98 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.67 and a quick ratio of 0.61.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, April 26th. The airline reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $5 billion. Southwest Airlines had a return on equity of 23.25% and a net margin of 16.95%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. equities research analysts forecast that Southwest Airlines will post 4.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Wednesday, June 6th will be paid a dividend of $0.16 per share. This is a positive change from Southwest Airlines’s previous quarterly dividend of $0.13. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, June 5th. Southwest Airlines’s dividend payout ratio (DPR) is presently 14.29%.
Several equities analysts have recently commented on LUV shares. Citigroup lowered their target price on Southwest Airlines from $74.00 to $67.00 and set a “buy” rating for the company in a report on Monday, April 30th. Buckingham Research raised Southwest Airlines from a “neutral” rating to a “buy” rating and set a $106.00 target price for the company in a report on Thursday, March 22nd. They noted that the move was a valuation call. Imperial Capital lowered their target price on Southwest Airlines from $75.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, April 27th. UBS lowered their target price on Southwest Airlines from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, March 22nd. Finally, ValuEngine lowered Southwest Airlines from a “hold” rating to a “sell” rating in a report on Monday, May 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $68.55.
In other Southwest Airlines news, Director Douglas H. Brooks sold 10,000 shares of the stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $60.05, for a total transaction of $600,500.00. Following the completion of the transaction, the director now directly owns 56,269 shares of the company’s stock, valued at approximately $3,378,953.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Gary C. Kelly sold 38,779 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.95, for a total value of $2,247,243.05. Following the transaction, the chairman now directly owns 581,029 shares of the company’s stock, valued at $33,670,630.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,473 shares of company stock valued at $6,296,091. 0.23% of the stock is currently owned by corporate insiders.
About Southwest Airlines
Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, Turks, and Chaos.
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