Raymond James Financial Services Advisors Inc. increased its stake in Alaska Air Group, Inc. (NYSE:ALK) by 817.2% during the 4th quarter, Holdings Channel reports. The fund owned 154,927 shares of the transportation company’s stock after buying an additional 138,035 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Alaska Air Group were worth $11,389,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALK. Assenagon Asset Management S.A. acquired a new stake in shares of Alaska Air Group in the third quarter worth approximately $8,782,000. CAPROCK Group Inc. acquired a new stake in shares of Alaska Air Group in the third quarter worth approximately $235,000. Fox Run Management L.L.C. purchased a new position in Alaska Air Group in the third quarter valued at approximately $1,022,000. Nationwide Fund Advisors raised its holdings in Alaska Air Group by 8.2% in the third quarter. Nationwide Fund Advisors now owns 165,134 shares of the transportation company’s stock valued at $12,595,000 after buying an additional 12,499 shares during the period. Finally, Boston Advisors LLC raised its holdings in Alaska Air Group by 4.0% in the third quarter. Boston Advisors LLC now owns 121,091 shares of the transportation company’s stock valued at $9,236,000 after buying an additional 4,605 shares during the period. 88.17% of the stock is currently owned by institutional investors and hedge funds.
ALK has been the topic of several research reports. Zacks Investment Research upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Buckingham Research cut their price target on shares of Alaska Air Group from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, January 26th. Stifel Nicolaus restated a “buy” rating and issued a $105.00 price target (down previously from $115.00) on shares of Alaska Air Group in a report on Wednesday, January 10th. Standpoint Research initiated coverage on shares of Alaska Air Group in a report on Monday, December 18th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Raymond James Financial upgraded shares of Alaska Air Group from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $85.00 to $80.00 in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Alaska Air Group has a consensus rating of “Buy” and an average target price of $87.68.
In other news, VP Christopher Michael Berry sold 460 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $97.00, for a total transaction of $44,620.00. Following the sale, the vice president now owns 1,997 shares in the company, valued at $193,709. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $68.00, for a total transaction of $335,512.00. Following the sale, the chief executive officer now owns 9,648 shares in the company, valued at approximately $656,064. The disclosure for this sale can be found here. Insiders have sold 5,934 shares of company stock worth $415,518 in the last quarter. Insiders own 0.57% of the company’s stock.
Shares of Alaska Air Group, Inc. (NYSE:ALK) opened at $64.39 on Wednesday. The stock has a market cap of $7,991.09, a P/E ratio of 7.78, a PEG ratio of 3.34 and a beta of 0.85. Alaska Air Group, Inc. has a 12 month low of $59.25 and a 12 month high of $101.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 0.79.
Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, January 25th. The transportation company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. Alaska Air Group had a net margin of 12.96% and a return on equity of 24.39%. The business’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 earnings per share. sell-side analysts forecast that Alaska Air Group, Inc. will post 5.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Tuesday, February 20th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. Alaska Air Group’s dividend payout ratio (DPR) is currently 15.46%.
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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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