State Treasurer State of Michigan reduced its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,096 shares of the transportation company’s stock after selling 1,400 shares during the period. State Treasurer State of Michigan’s holdings in Alaska Air Group were worth $2,653,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in ALK. Egerton Capital UK LLP lifted its holdings in Alaska Air Group by 51.6% during the 3rd quarter. Egerton Capital UK LLP now owns 4,476,494 shares of the transportation company’s stock worth $341,422,000 after purchasing an additional 1,524,149 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Alaska Air Group during the 2nd quarter worth approximately $57,891,000. Ardevora Asset Management LLP acquired a new stake in Alaska Air Group during the 3rd quarter worth approximately $33,124,000. Lateef Investment Management L.P. acquired a new stake in Alaska Air Group during the 3rd quarter worth approximately $24,256,000. Finally, Victory Capital Management Inc. lifted its holdings in Alaska Air Group by 67.2% during the 3rd quarter. Victory Capital Management Inc. now owns 783,102 shares of the transportation company’s stock worth $59,728,000 after purchasing an additional 314,673 shares during the last quarter. 87.75% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on ALK shares. Imperial Capital dropped their price target on Alaska Air Group from $85.00 to $70.00 and set a “line” rating for the company in a report on Thursday, October 26th. UBS Group upgraded Alaska Air Group from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research upgraded Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. ValuEngine upgraded Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Buckingham Research lowered their price objective on Alaska Air Group from $98.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. Alaska Air Group has a consensus rating of “Buy” and an average target price of $87.68.
Alaska Air Group, Inc. (ALK) opened at $64.72 on Friday. Alaska Air Group, Inc. has a 52 week low of $59.25 and a 52 week high of $101.43. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $7,964.51, a price-to-earnings ratio of 7.82, a PEG ratio of 3.33 and a beta of 0.85.
Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, January 25th. The transportation company reported $0.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Alaska Air Group had a return on equity of 24.40% and a net margin of 12.96%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company posted $1.56 EPS. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. sell-side analysts expect that Alaska Air Group, Inc. will post 5.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Tuesday, February 20th will be paid a $0.32 dividend. This is a positive change from Alaska Air Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.28 annualized dividend and a dividend yield of 1.98%. Alaska Air Group’s dividend payout ratio (DPR) is presently 14.49%.
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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