Alaska Air Group, Inc. (ALK) Stake Lowered by Northern Trust Corp
Northern Trust Corp lessened its position in Alaska Air Group, Inc. (NYSE:ALK) by 1.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,219,392 shares of the transportation company’s stock after selling 22,463 shares during the period. Northern Trust Corp owned approximately 0.99% of Alaska Air Group worth $109,451,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in shares of Alaska Air Group by 57.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 695 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of Alaska Air Group in the 1st quarter valued at about $179,000. Rehmann Capital Advisory Group purchased a new position in shares of Alaska Air Group in the 2nd quarter valued at about $201,000. Verity Asset Management Inc. purchased a new position in shares of Alaska Air Group in the 1st quarter valued at about $218,000. Finally, Private Advisor Group LLC purchased a new position in shares of Alaska Air Group in the 1st quarter valued at about $216,000. Institutional investors own 87.76% of the company’s stock.
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 value of $202,170.50. Following the completion of the sale, the executive vice president now owns 21,328 shares of the company’s stock, valued at approximately $1,834,847.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Bradley D. Tilden sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $94.48, for a total value of $529,088.00. Following the completion of the sale, the chairman now directly owns 145,546 shares of the company’s stock, valued at approximately $13,751,186.08. The disclosure for this sale can be found here. In the last three months, insiders sold 10,350 shares of company stock valued at $937,251. 0.57% of the stock is currently owned by company insiders.
Shares of Alaska Air Group, Inc. (ALK) opened at 75.10 on Thursday. Alaska Air Group, Inc. has a 52-week low of $64.19 and a 52-week high of $101.43. The company has a 50 day moving average of $78.55 and a 200 day moving average of $86.73. The firm has a market capitalization of $9.28 billion, a PE ratio of 12.21 and a beta of 1.00.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results 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). The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The company’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.12 EPS. On average, analysts anticipate that Alaska Air Group, Inc. will post $7.53 earnings per share for the current fiscal year.
The company also recently declared 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 annualized dividend and a dividend yield of 1.60%. Alaska Air Group’s payout ratio is 19.48%.
ALK has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Tuesday, July 4th. Bank of America Corporation raised their target price on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, June 30th. Finally, Cowen and Company restated a “buy” rating and set a $103.00 target price on shares of Alaska Air Group in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $103.59.
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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