South Dakota Investment Council Maintains Holdings in Alaska Air Group, Inc. (ALK)
South Dakota Investment Council continued to hold its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,600 shares of the transportation company’s stock at the close of the second quarter. South Dakota Investment Council’s holdings in Alaska Air Group were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Alaska Air Group by 57.9% during the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares during the period. Twin Tree Management LP acquired a new position in Alaska Air Group during the first quarter worth approximately $179,000. Assetmark Inc. increased its position in Alaska Air Group by 70.3% during the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock worth $187,000 after purchasing an additional 837 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in Alaska Air Group during the second quarter worth approximately $201,000. Finally, Insight Capital Research & Management Inc. acquired a new position in Alaska Air Group during the second quarter worth approximately $215,000. 87.76% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. Cowen and Company dropped 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 report on Thursday. Barclays PLC reaffirmed a “buy” rating on shares of Alaska Air Group in a research report on Thursday. Zacks Investment Research lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alaska Air Group in a research report on Tuesday, September 12th. Finally, ValuEngine lowered shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $106.55.
In related news, EVP Andrew R. Harrison sold 2,350 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $86.03, for a total transaction of $202,170.50. Following the transaction, the executive vice president now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $85.83, for a total transaction of $205,992.00. Following the transaction, the chairman now directly owns 140,346 shares in the company, valued at approximately $12,045,897.18. The disclosure for this sale can be found here. Insiders have sold 10,350 shares of company stock worth $937,251 in the last ninety days. 0.57% of the stock is currently owned by insiders.
Alaska Air Group, Inc. (NYSE ALK) opened at 75.28 on Monday. Alaska Air Group, Inc. has a 52 week low of $64.19 and a 52 week high of $101.43. The stock has a 50 day moving average of $79.30 and a 200 day moving average of $87.26. The stock has a market capitalization of $9.30 billion, a P/E ratio of 12.24 and a beta of 1.00.
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 Zacks’ 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 firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the business earned $2.12 EPS. The company’s revenue for the quarter was up 40.7% compared to the same quarter last year. On average, equities research analysts predict that Alaska Air Group, Inc. will post $7.67 earnings per share for the current fiscal year.
The business also recently announced 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 yield of 1.59%. The ex-dividend date of this dividend was Friday, August 18th. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.48%.
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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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