BlackRock Inc. lowered its stake in Alaska Air Group, Inc. (NYSE:ALK) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,773,561 shares of the transportation company’s stock after selling 206,138 shares during the quarter. BlackRock Inc. owned about 5.48% of Alaska Air Group worth $607,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Alaska Air Group by 57.9% in 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 last quarter. Twin Tree Management LP acquired a new stake in shares of Alaska Air Group during the first quarter worth about $179,000. Rehmann Capital Advisory Group acquired a new stake in shares of Alaska Air Group during the second quarter worth about $201,000. Insight Capital Research & Management Inc. acquired a new stake in shares of Alaska Air Group during the second quarter worth about $215,000. Finally, Smithfield Trust Co. lifted its position in shares of Alaska Air Group by 8.6% during the second quarter. Smithfield Trust Co. now owns 2,391 shares of the transportation company’s stock worth $215,000 after purchasing an additional 189 shares in the last quarter. 87.76% of the stock is currently owned by institutional investors.

Shares of Alaska Air Group, Inc. (ALK) opened at 74.75 on Friday. The firm has a market cap of $9.23 billion, a PE ratio of 12.16 and a beta of 1.00. The company has a 50-day moving average of $78.55 and a 200 day moving average of $86.73. Alaska Air Group, Inc. has a one year low of $64.19 and a one year high of $101.43.

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). Alaska Air Group had a return on equity of 30.04% and a net margin of 11.02%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the firm posted $2.12 EPS. The firm’s revenue for the quarter was up 40.7% compared to the same quarter last year. On average, equities research analysts expect that Alaska Air Group, Inc. will post $7.51 EPS for the current fiscal year.

The business also recently declared 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 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Friday, August 18th. Alaska Air Group’s dividend payout ratio (DPR) is presently 19.48%.

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In related news, EVP Andrew R. Harrison sold 2,350 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $86.03, for a total transaction of $202,170.50. Following the transaction, the executive vice president now directly owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Bradley D. Tilden sold 2,400 shares of the business’s stock in a transaction that occurred 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 transaction, 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. Insiders have sold a total of 10,350 shares of company stock worth $937,251 over the last three months. 0.57% of the stock is currently owned by corporate insiders.

Several analysts have recently issued reports on the stock. Cowen and Company reduced their price target on shares of Alaska Air Group from $103.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday, September 14th. Zacks Investment Research raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Tuesday, July 4th. Bank of America Corporation increased their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 30th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target on shares of Alaska Air Group in a research report on Friday, May 26th. Finally, Morgan Stanley reduced their price target on shares of Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Alaska Air Group currently has an average rating of “Buy” and a consensus price target of $106.55.

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.

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

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