IFM Investors Pty Ltd Has $260,000 Stake in American Airlines Group Inc (NASDAQ:AAL)
IFM Investors Pty Ltd boosted its holdings in American Airlines Group Inc (NASDAQ:AAL) by 46.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,644 shares of the airline’s stock after acquiring an additional 3,064 shares during the period. IFM Investors Pty Ltd’s holdings in American Airlines Group were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in American Airlines Group by 16.8% in the 2nd quarter. Vanguard Group Inc. now owns 42,092,587 shares of the airline’s stock valued at $1,372,639,000 after buying an additional 6,059,070 shares during the period. Nuveen Asset Management LLC increased its holdings in American Airlines Group by 95.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,612,922 shares of the airline’s stock valued at $215,648,000 after buying an additional 3,234,558 shares during the period. Invesco Ltd. increased its holdings in American Airlines Group by 1.4% in the 2nd quarter. Invesco Ltd. now owns 6,034,298 shares of the airline’s stock valued at $196,779,000 after buying an additional 83,200 shares during the period. Bank of New York Mellon Corp increased its holdings in American Airlines Group by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,240,163 shares of the airline’s stock valued at $105,662,000 after buying an additional 50,168 shares during the period. Finally, RWC Asset Management LLP increased its holdings in American Airlines Group by 0.4% in the 2nd quarter. RWC Asset Management LLP now owns 2,602,640 shares of the airline’s stock valued at $84,871,000 after buying an additional 10,667 shares during the period. 80.26% of the stock is currently owned by hedge funds and other institutional investors.
In other American Airlines Group news, President Robert D. Isom, Jr. bought 2,500 shares of American Airlines Group stock in a transaction on Thursday, August 29th. The shares were purchased at an average cost of $26.34 per share, with a total value of $65,850.00. Following the acquisition, the president now directly owns 771,271 shares of the company’s stock, valued at approximately $20,315,278.14. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James F. Albaugh bought 10,000 shares of American Airlines Group stock in a transaction on Monday, October 28th. The shares were acquired at an average cost of $31.41 per share, for a total transaction of $314,100.00. Following the completion of the acquisition, the director now directly owns 36,091 shares in the company, valued at $1,133,618.31. The disclosure for this purchase can be found here. Insiders own 0.86% of the company’s stock.
American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, October 24th. The airline reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04. The company had revenue of $11.91 billion for the quarter, compared to analyst estimates of $11.93 billion. American Airlines Group had a net margin of 3.50% and a negative return on equity of 1,294.15%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 EPS. Equities research analysts forecast that American Airlines Group Inc will post 4.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, November 5th. American Airlines Group’s payout ratio is 8.79%.
Several equities analysts have commented on AAL shares. Buckingham Research decreased their target price on shares of American Airlines Group from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Credit Suisse Group reissued an “outperform” rating on shares of American Airlines Group in a report on Thursday, October 17th. Royal Bank of Canada reissued a “top pick” rating on shares of American Airlines Group in a report on Wednesday, October 23rd. Berenberg Bank set a $35.00 price target on shares of American Airlines Group and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Barclays reaffirmed an “equal weight” rating on shares of American Airlines Group in a report on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $37.00.
American Airlines Group Profile
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, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and 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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