Eagle Global Advisors LLC lowered its position in Alaska Air Group, Inc. (NYSE:ALK) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 79,776 shares of the transportation company’s stock after selling 3,129 shares during the period. Eagle Global Advisors LLC’s holdings in Alaska Air Group were worth $5,864,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Exane Derivatives purchased a new stake in shares of Alaska Air Group in the fourth quarter valued at about $105,000. Mercer Capital Advisers Inc. bought a new position in Alaska Air Group during the third quarter valued at about $116,000. Bank of Nova Scotia Trust Co. bought a new position in Alaska Air Group during the third quarter valued at about $153,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Alaska Air Group by 55.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,495 shares of the transportation company’s stock valued at $186,000 after buying an additional 888 shares during the period. Finally, Harbour Capital Advisors LLC bought a new position in Alaska Air Group during the third quarter valued at about $200,000. Institutional investors own 88.17% of the company’s stock.
Alaska Air Group, Inc. (NYSE:ALK) opened at $64.89 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.61. The firm has a market cap of $8,136.23, a PE ratio of 9.98, a price-to-earnings-growth ratio of 3.39 and a beta of 0.85. Alaska Air Group, Inc. has a 1 year low of $59.25 and a 1 year high of $101.43.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, February 16th. 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%.
Several equities analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Alaska Air Group from $86.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, January 26th. Barclays lowered shares of Alaska Air Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $90.00 to $80.00 in a research report on Wednesday, January 10th. Standpoint Research assumed coverage on shares of Alaska Air Group in a research report on Monday, December 18th. They set a “buy” rating and a $90.00 price target for the company. JPMorgan Chase & Co. lowered shares of Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 price target for the company. in a research report on Wednesday, November 1st. Finally, Cowen restated an “outperform” rating and set a $84.00 price target (down previously from $93.00) on shares of Alaska Air Group in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.53.
In other Alaska Air Group news, VP Brandon Pedersen sold 2,700 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $65.14, for a total transaction of $175,878.00. Following the completion of the transaction, the vice president now owns 26,888 shares in the company, valued at $1,751,484.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher Michael Berry sold 460 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $97.00, for a total transaction of $44,620.00. Following the transaction, the vice president now owns 1,997 shares of the company’s stock, valued at approximately $193,709. The disclosure for this sale can be found here. Insiders have sold 8,094 shares of company stock valued at $556,010 in the last quarter. Company insiders own 0.57% of the company’s stock.
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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