Advisors Asset Management Inc. lowered its stake in Alaska Air Group, Inc. (NYSE:ALK) by 12.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,491 shares of the transportation company’s stock after selling 2,588 shares during the period. Advisors Asset Management Inc.’s holdings in Alaska Air Group were worth $1,570,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Wedbush Securities Inc. raised its stake in Alaska Air Group by 12.6% in the second quarter. Wedbush Securities Inc. now owns 4,481 shares of the transportation company’s stock valued at $402,000 after buying an additional 501 shares during the period. Rhumbline Advisers raised its stake in Alaska Air Group by 5.8% in the second quarter. Rhumbline Advisers now owns 235,250 shares of the transportation company’s stock valued at $21,116,000 after buying an additional 12,957 shares during the period. First Trust Advisors LP raised its stake in Alaska Air Group by 2.1% in the second quarter. First Trust Advisors LP now owns 508,482 shares of the transportation company’s stock valued at $45,641,000 after buying an additional 10,508 shares during the period. Arizona State Retirement System raised its stake in Alaska Air Group by 0.3% in the second quarter. Arizona State Retirement System now owns 30,700 shares of the transportation company’s stock valued at $2,756,000 after buying an additional 100 shares during the period. Finally, Financial Engines Advisors L.L.C. raised its stake in Alaska Air Group by 9.1% in the second quarter. Financial Engines Advisors L.L.C. now owns 42,233 shares of the transportation company’s stock valued at $3,791,000 after buying an additional 3,535 shares during the period. 94.35% of the stock is currently owned by institutional investors.

Alaska Air Group, Inc. (NYSE ALK) opened at 75.53 on Friday. The firm has a 50-day moving average price of $85.76 and a 200 day moving average price of $89.47. Alaska Air Group, Inc. has a 52-week low of $64.19 and a 52-week high of $101.43. The company has a market capitalization of $9.33 billion, a P/E ratio of 12.28 and a beta of 0.95.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The company’s revenue was up 40.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 EPS. On average, analysts predict that Alaska Air Group, Inc. will post $7.76 earnings per share for the current fiscal year.

The business 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 $0.30 dividend. The ex-dividend date is Friday, August 18th. This represents a $1.20 annualized dividend and a yield of 1.59%. Alaska Air Group’s dividend payout ratio is currently 19.48%.

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Several analysts recently weighed in on the company. BidaskClub raised Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Morgan Stanley reduced their price objective on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Monday, July 17th. Cowen and Company reaffirmed an “outperform” rating and issued a $103.00 price objective on shares of Alaska Air Group in a research note on Tuesday, June 20th. Zacks Investment Research raised Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a research note on Tuesday, July 4th. Finally, Bank of America Corporation raised their price objective on Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Alaska Air Group currently has a consensus rating of “Buy” and an average price target of $104.86.

In related news, Chairman Bradley D. Tilden sold 2,400 shares of Alaska Air Group stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total value of $205,992.00. Following the completion of the transaction, the chairman now owns 140,346 shares in the company, valued at $12,045,897.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Andrew R. Harrison sold 2,350 shares of Alaska Air Group stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the transaction, the executive vice president now owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,850 shares of company stock valued at $2,149,881. 0.57% of the stock is currently owned by company insiders.

About Alaska Air Group

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

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