TIAA CREF Investment Management LLC lessened its stake in Alaska Air Group, Inc. (NYSE:ALK) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 852,745 shares of the transportation company’s stock after selling 92,713 shares during the period. TIAA CREF Investment Management LLC owned 0.69% of Alaska Air Group worth $76,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group boosted its stake in Alaska Air Group by 41.2% in the second quarter. Schroder Investment Management Group now owns 773,245 shares of the transportation company’s stock valued at $68,897,000 after acquiring an additional 225,600 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Alaska Air Group in the first quarter valued at $955,000. Principal Financial Group Inc. boosted its stake in Alaska Air Group by 149.3% in the second quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock valued at $110,457,000 after acquiring an additional 737,020 shares in the last quarter. Baltimore Capital Management Inc. boosted its stake in Alaska Air Group by 505.0% in the second quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the transportation company’s stock valued at $3,462,000 after acquiring an additional 32,195 shares in the last quarter. Finally, Oxford Asset Management acquired a new position in Alaska Air Group in the first quarter valued at $3,425,000. Institutional investors own 88.34% of the company’s stock.

In related news, Chairman Bradley D. Tilden sold 5,600 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $94.48, for a total transaction of $529,088.00. Following the completion of the sale, the chairman now owns 145,546 shares of the company’s stock, valued at approximately $13,751,186.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $202,170.50. Following the sale, the executive vice president now directly 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 ninety days, insiders have sold 10,350 shares of company stock valued at $937,251. Insiders own 0.57% of the company’s stock.

Several equities analysts have issued reports on the stock. BidaskClub upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Morgan Stanley decreased their price objective on shares of Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, July 17th. Cowen and Company restated 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 upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a research note on Tuesday, July 4th. Finally, Bank of America Corporation upped their price objective on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $106.55.

Shares of Alaska Air Group, Inc. (NYSE:ALK) opened at 75.28 on Friday. Alaska Air Group, Inc. has a 52 week low of $64.19 and a 52 week high of $101.43. The firm has a market cap of $9.30 billion, a P/E ratio of 12.24 and a beta of 1.00. The stock’s 50 day moving average is $79.30 and its 200 day moving average is $87.26.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.01). Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the company earned $2.12 EPS. Alaska Air Group’s quarterly revenue was up 40.7% on a year-over-year basis. On average, equities research analysts predict that Alaska Air Group, Inc. will post $7.67 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Tuesday, August 22nd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, August 18th. Alaska Air Group’s dividend payout ratio is presently 19.48%.

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Alaska Air Group 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.

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

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