Alaska Air Group, Inc. (ALK) Position Boosted by Franklin Resources Inc.
Franklin Resources Inc. boosted its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,348,411 shares of the transportation company’s stock after buying an additional 148,061 shares during the quarter. Franklin Resources Inc. owned approximately 2.71% of Alaska Air Group worth $300,554,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Mackenzie Financial Corp purchased a new position in Alaska Air Group in the first quarter valued at $64,763,000. BlackRock Inc. increased its holdings in Alaska Air Group by 4,899.5% in the first quarter. BlackRock Inc. now owns 6,979,699 shares of the transportation company’s stock valued at $643,668,000 after buying an additional 6,840,090 shares during the last quarter. State Street Corp increased its holdings in Alaska Air Group by 4.8% in the first quarter. State Street Corp now owns 4,553,574 shares of the transportation company’s stock valued at $419,926,000 after buying an additional 208,195 shares during the last quarter. Egerton Capital UK LLP purchased a new position in Alaska Air Group in the second quarter valued at $265,002,000. Finally, FMR LLC increased its holdings in Alaska Air Group by 48.3% in the first quarter. FMR LLC now owns 1,810,921 shares of the transportation company’s stock valued at $167,003,000 after buying an additional 589,937 shares during the last quarter. 88.34% of the stock is currently owned by hedge funds and other institutional investors.
Alaska Air Group, Inc. (ALK) opened at 74.30 on Friday. Alaska Air Group, Inc. has a 1-year low of $64.19 and a 1-year high of $101.43. The firm has a market cap of $9.18 billion, a P/E ratio of 12.08 and a beta of 1.00. The firm has a 50-day moving average of $80.93 and a 200 day moving average of $88.00.
Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share 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 the consensus estimate of $2.10 billion. Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. Alaska Air Group’s revenue for the quarter was up 40.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 EPS. On average, analysts predict that Alaska Air Group, Inc. will post $7.72 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Tuesday, August 22nd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, August 18th. Alaska Air Group’s payout ratio is currently 19.48%.
Several equities analysts recently commented on the company. Morgan Stanley dropped their target price on Alaska Air Group from $101.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, August 17th. BidaskClub lowered Alaska Air Group from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 target price on shares of Alaska Air Group in a report on Friday, May 26th. Zacks Investment Research lowered Alaska Air Group from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Cowen and Company reissued an “outperform” rating and issued a $103.00 target price on shares of Alaska Air Group in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $104.86.
In other news, EVP Andrew R. Harrison sold 2,350 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $86.03, for a total value of $202,170.50. Following the completion of the sale, the executive vice president now owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the completion of the sale, the chairman now directly owns 140,346 shares of the company’s stock, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. Insiders sold a total of 16,850 shares of company stock valued at $1,513,931 in the last three months. Insiders own 0.57% of the company’s stock.
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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