TD Asset Management Inc. increased its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 328,414 shares of the transportation company’s stock after buying an additional 2,050 shares during the period. TD Asset Management Inc.’s holdings in Alaska Air Group were worth $29,479,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake 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 worth $171,000 after buying an additional 695 shares during the period. Twin Tree Management LP bought a new stake in Alaska Air Group during the first quarter worth about $179,000. Assetmark Inc. increased its stake in Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock worth $187,000 after buying an additional 837 shares during the period. Rehmann Capital Advisory Group bought a new stake in Alaska Air Group during the second quarter worth about $201,000. Finally, Insight Capital Research & Management Inc. bought a new stake in Alaska Air Group during the second quarter worth about $215,000. 93.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alaska Air Group, Inc. (ALK) opened at 83.79 on Friday. Alaska Air Group, Inc. has a 52 week low of $64.19 and a 52 week high of $101.43. The stock has a market capitalization of $10.35 billion, a P/E ratio of 13.63 and a beta of 0.95. The company’s 50-day moving average is $89.00 and its 200 day moving average is $90.62.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by $0.01. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm earned $2.12 earnings per share. On average, equities analysts forecast that Alaska Air Group, Inc. will post $7.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.43%. Alaska Air Group’s dividend payout ratio (DPR) is 19.48%.
ALK has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target on shares of Alaska Air Group in a research note on Friday, May 26th. BidaskClub raised shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. 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 note on Tuesday, July 4th. Bank of America Corporation boosted their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Finally, Cowen and Company reissued a “market perform” rating and issued a $102.00 price target on shares of Alaska Air Group in a research note on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $105.41.
In other Alaska Air Group news, SVP Joseph A. Sprague sold 7,000 shares of Alaska Air Group stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $90.85, for a total transaction of $635,950.00. Following the transaction, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $653,302.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Bradley D. Tilden sold 4,700 shares of Alaska Air Group stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $84.63, for a total transaction of $397,761.00. Following the transaction, the chairman now directly owns 148,646 shares in the company, valued at $12,579,910.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,550 shares of company stock worth $2,547,642. 0.57% of the stock is currently owned by corporate insiders.
Alaska Air Group Company Profile
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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