The Manufacturers Life Insurance Company increased its holdings in Southwest Airlines Company (NYSE:LUV) by 25.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 898,001 shares of the airline’s stock after buying an additional 181,007 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.15% of Southwest Airlines worth $55,802,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LUV. BDO Wealth Advisors LLC bought a new stake in Southwest Airlines in the 2nd quarter worth about $102,000. Guardian Life Insurance Co. of America increased its holdings in Southwest Airlines by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,374 shares of the airline’s stock worth $128,000 after buying an additional 15 shares in the last quarter. Pittenger & Anderson Inc. increased its holdings in Southwest Airlines by 13.5% in the 2nd quarter. Pittenger & Anderson Inc. now owns 2,100 shares of the airline’s stock worth $130,000 after buying an additional 250 shares in the last quarter. Van ECK Associates Corp increased its holdings in Southwest Airlines by 6.6% in the 1st quarter. Van ECK Associates Corp now owns 2,502 shares of the airline’s stock worth $135,000 after buying an additional 154 shares in the last quarter. Finally, National Pension Service bought a new stake in Southwest Airlines in the 2nd quarter worth about $141,000. Institutional investors own 79.42% of the company’s stock.
LUV has been the subject of several research analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $70.00 price objective on shares of Southwest Airlines in a report on Thursday, July 13th. BidaskClub downgraded Southwest Airlines from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Southwest Airlines from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Vetr upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $64.21 price objective for the company in a report on Tuesday, June 27th. Finally, Bank of America Corporation lifted their price objective on Southwest Airlines from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Southwest Airlines has a consensus rating of “Buy” and an average target price of $66.95.
In related news, Director William H. Dr Cunningham bought 4,500 shares of the stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $54.00 per share, for a total transaction of $243,000.00. Following the completion of the purchase, the director now directly owns 66,969 shares of the company’s stock, valued at $3,616,326. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by corporate insiders.
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Shares of Southwest Airlines Company (NYSE LUV) traded up 1.05% on Wednesday, reaching $58.62. The company’s stock had a trading volume of 838,253 shares. The stock has a market cap of $35.09 billion, a PE ratio of 17.98 and a beta of 1.32. Southwest Airlines Company has a 12-month low of $36.91 and a 12-month high of $64.39. The firm has a 50 day moving average price of $54.35 and a 200-day moving average price of $57.06.
Southwest Airlines (NYSE:LUV) last announced its quarterly earnings data on Thursday, July 27th. The airline reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.73 billion. Southwest Airlines had a return on equity of 26.07% and a net margin of 9.63%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 earnings per share. Equities research analysts expect that Southwest Airlines Company will post $3.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, August 22nd. Southwest Airlines’s dividend payout ratio is presently 15.34%.
Southwest Airlines Company Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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