Verity Asset Management Inc. raised its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 13.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,683 shares of the transportation company’s stock after buying an additional 321 shares during the quarter. Verity Asset Management Inc.’s holdings in Alaska Air Group were worth $241,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Schroder Investment Management Group raised its stake in shares of 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 worth $68,897,000 after purchasing an additional 225,600 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of 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 worth $110,457,000 after purchasing an additional 737,020 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of Alaska Air Group in the first quarter worth $955,000. Legal & General Group Plc raised its stake in shares of 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 worth $14,453,000 after purchasing an additional 16,407 shares during the last quarter. Finally, Baltimore Capital Management Inc. raised its stake in shares of 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 worth $3,462,000 after purchasing an additional 32,195 shares during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.

Alaska Air Group, Inc. (NYSE ALK) traded down 2.21% during mid-day trading on Monday, reaching $73.62. The company had a trading volume of 564,059 shares. The firm has a market capitalization of $9.09 billion, a PE ratio of 11.97 and a beta of 1.00. Alaska Air Group, Inc. has a 52 week low of $64.19 and a 52 week high of $101.43. The stock’s 50-day moving average price is $79.30 and its 200 day moving average price is $87.26.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.01). The firm 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 business’s revenue was up 40.7% on a year-over-year basis. During the same quarter last year, the business earned $2.12 EPS. On average, equities research analysts predict that Alaska Air Group, Inc. will post $7.67 EPS for the current year.

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

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Several research analysts have recently weighed in on the company. Cowen and Company decreased their price target on Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday. Morgan Stanley decreased their price target on Alaska Air Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Monday. Citigroup Inc. decreased their price target on Alaska Air Group from $100.00 to $87.00 and set a “neutral” rating for the company in a research note on Monday. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Tuesday, July 4th. Finally, Bank of America Corporation boosted their price target on Alaska Air Group from $115.00 to $120.00 and gave the stock 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 assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $106.65.

In related news, Chairman Bradley D. Tilden sold 2,400 shares of the firm’s stock in a transaction on 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 approximately $12,045,897.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 2,350 shares of the firm’s stock in a transaction on 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. Insiders sold a total of 10,350 shares of company stock valued at $937,251 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

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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