American Airlines Group Inc (AAL) Shares Bought by Korea Investment CORP
Korea Investment CORP grew its position in shares of American Airlines Group Inc (NASDAQ:AAL) by 166.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,900 shares of the airline’s stock after acquiring an additional 21,800 shares during the quarter. Korea Investment CORP’s holdings in American Airlines Group were worth $1,442,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its holdings in American Airlines Group by 116.3% in the third quarter. Canada Pension Plan Investment Board now owns 201,410 shares of the airline’s stock valued at $8,324,000 after purchasing an additional 108,300 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in American Airlines Group by 35.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 6,843 shares of the airline’s stock valued at $295,000 after purchasing an additional 1,786 shares during the last quarter. CIBC World Markets Inc. boosted its holdings in American Airlines Group by 70.4% in the third quarter. CIBC World Markets Inc. now owns 59,336 shares of the airline’s stock valued at $2,452,000 after purchasing an additional 24,511 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in American Airlines Group by 11.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 47,640 shares of the airline’s stock worth $1,969,000 after buying an additional 4,724 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in American Airlines Group by 3.2% during the 3rd quarter. American International Group Inc. now owns 205,667 shares of the airline’s stock worth $8,500,000 after buying an additional 6,300 shares during the last quarter. Institutional investors own 81.16% of the company’s stock.
In other American Airlines Group news, Director Jeffrey D. Benjamin bought 15,000 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average cost of $35.69 per share, for a total transaction of $535,350.00. Following the transaction, the director now directly owns 22,146 shares in the company, valued at $790,390.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Cahill bought 25,000 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was acquired at an average price of $33.47 per share, for a total transaction of $836,750.00. Following the completion of the transaction, the director now owns 6,531 shares in the company, valued at $218,592.57. The disclosure for this purchase can be found here. Company insiders own 0.70% of the company’s stock.
American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, October 25th. The airline reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. The business had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $11.55 billion. American Airlines Group had a return on equity of 568.86% and a net margin of 3.06%. On average, analysts forecast that American Airlines Group Inc will post 4.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, November 5th. American Airlines Group’s dividend payout ratio (DPR) is 8.20%.
A number of research firms have commented on AAL. Zacks Investment Research reaffirmed a “hold” rating on shares of American Airlines Group in a report on Monday, November 12th. Imperial Capital reduced their target price on American Airlines Group from $56.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, October 10th. They noted that the move was a valuation call. ValuEngine raised American Airlines Group from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. BidaskClub downgraded American Airlines Group from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Finally, Credit Suisse Group began coverage on American Airlines Group in a report on Monday, November 19th. They set a “neutral” rating and a $41.00 target price on the stock. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $50.53.
About American Airlines Group
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2017, the company operated a mainline fleet of 948 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, and Phoenix, as well as in Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.
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