CIBC World Markets Inc. decreased its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 33.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,333 shares of the transportation company’s stock after selling 3,624 shares during the quarter. CIBC World Markets Inc.’s holdings in Alaska Air Group were worth $658,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Schroder Investment Management Group boosted its holdings in Alaska Air Group by 41.2% during the second quarter. Schroder Investment Management Group now owns 773,245 shares of the transportation company’s stock worth $68,897,000 after purchasing an additional 225,600 shares during the last quarter. Principal Financial Group Inc. lifted 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 during the last quarter. Two Sigma Securities LLC acquired a new stake in Alaska Air Group in the first quarter valued at $955,000. Legal & General Group Plc lifted its stake in Alaska Air Group by 11.3% in the second quarter. Legal & General Group Plc now owns 161,010 shares of the transportation company’s stock valued at $14,453,000 after acquiring an additional 16,407 shares during the last quarter. Finally, Baltimore Capital Management Inc. lifted 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 during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.

In other news, EVP Andrew R. Harrison sold 2,350 shares of the 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 sale, the executive vice president now directly owns 21,328 shares of the company’s stock, valued at $1,834,847.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Bradley D. Tilden sold 2,400 shares of the 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 in the company, valued at $12,045,897.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,350 shares of company stock worth $937,251. Insiders own 0.57% of the company’s stock.

Shares of Alaska Air Group, Inc. (ALK) opened at 75.28 on Monday. Alaska Air Group, Inc. has a 1-year low of $64.19 and a 1-year high of $101.43. The stock’s 50 day moving average is $79.30 and its 200-day moving average is $87.26. The firm has a market cap of $9.30 billion, a PE ratio of 12.24 and a beta of 1.00.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings data 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). 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 analysts’ expectations of $2.10 billion. During the same period last year, the company earned $2.12 earnings per share. Alaska Air Group’s revenue for the quarter was up 40.7% compared to the same quarter last year. Analysts expect that Alaska Air Group, Inc. will post $7.67 earnings per share for the current year.

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

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A number of brokerages have commented on ALK. Cowen and Company cut their price target on shares of Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays PLC reiterated a “buy” rating on shares of Alaska Air Group in a research note on Thursday. Zacks Investment Research cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Morgan Stanley reiterated an “overweight” rating on shares of Alaska Air Group in a research note on Tuesday, September 12th. Finally, ValuEngine cut shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. 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 given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $106.55.

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.

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

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