MetLife Investment Advisors LLC Trims Stake in Alaska Air Group, Inc. (ALK)

MetLife Investment Advisors LLC trimmed its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,014 shares of the transportation company’s stock after selling 1,057 shares during the period. MetLife Investment Advisors LLC’s holdings in Alaska Air Group were worth $2,293,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ALK. Keybank National Association OH acquired a new stake in shares of Alaska Air Group during the 4th quarter valued at approximately $820,000. The Manufacturers Life Insurance Company lifted its position in shares of Alaska Air Group by 19.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 192,290 shares of the transportation company’s stock valued at $14,136,000 after acquiring an additional 30,829 shares during the period. State of Wisconsin Investment Board lifted its position in shares of Alaska Air Group by 6.5% during the 4th quarter. State of Wisconsin Investment Board now owns 28,447 shares of the transportation company’s stock valued at $2,091,000 after acquiring an additional 1,748 shares during the period. BlackRock Inc. lifted its position in shares of Alaska Air Group by 9.3% during the 4th quarter. BlackRock Inc. now owns 7,310,003 shares of the transportation company’s stock valued at $537,358,000 after acquiring an additional 621,021 shares during the period. Finally, TCW Group Inc. acquired a new stake in shares of Alaska Air Group during the 4th quarter valued at approximately $771,000. Institutional investors own 92.93% of the company’s stock.

In other Alaska Air Group news, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.

Several research analysts recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $110.00 price objective on shares of Alaska Air Group in a research report on Monday, April 23rd. Imperial Capital restated an “in-line” rating and set a $71.00 price objective (up from $68.00) on shares of Alaska Air Group in a research report on Tuesday, April 24th. Morgan Stanley lifted their price objective on Alaska Air Group from $79.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Citigroup lifted their price objective on Alaska Air Group from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 24th. Finally, Zacks Investment Research downgraded Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Alaska Air Group currently has a consensus rating of “Hold” and a consensus price target of $84.00.

ALK stock opened at $62.91 on Friday. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 11.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.71 and a quick ratio of 0.69. Alaska Air Group, Inc. has a one year low of $57.53 and a one year high of $95.75.

Alaska Air Group (NYSE:ALK) last released its earnings results on Monday, April 23rd. The transportation company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.03. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Alaska Air Group had a net margin of 11.64% and a return on equity of 20.43%. Alaska Air Group’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.12 EPS. sell-side analysts expect that Alaska Air Group, Inc. will post 4.87 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 7th. Shareholders of record on Tuesday, May 22nd were paid a $0.32 dividend. The ex-dividend date was Monday, May 21st. This represents a $1.28 annualized dividend and a yield of 2.03%. Alaska Air Group’s payout ratio is currently 19.28%.

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.

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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