Sei Investments Co. Has $17.09 Million Stake in Alaska Air Group, Inc. (NYSE:ALK)
Sei Investments Co. increased its stake in Alaska Air Group, Inc. (NYSE:ALK) by 24.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,385 shares of the transportation company’s stock after buying an additional 37,543 shares during the period. Sei Investments Co. owned about 0.15% of Alaska Air Group worth $17,090,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Sit Investment Associates Inc. raised its stake in Alaska Air Group by 25.3% in the first quarter. Sit Investment Associates Inc. now owns 223,000 shares of the transportation company’s stock valued at $20,565,000 after buying an additional 45,050 shares during the period. State of Alaska Department of Revenue bought a new stake in Alaska Air Group during the first quarter valued at $238,000. Quantitative Systematic Strategies LLC bought a new stake in Alaska Air Group during the first quarter valued at $2,683,000. Private Wealth Partners LLC bought a new stake in Alaska Air Group during the first quarter valued at $740,000. Finally, Telemus Capital LLC raised its stake in Alaska Air Group by 2.3% in the first quarter. Telemus Capital LLC now owns 10,579 shares of the transportation company’s stock valued at $976,000 after buying an additional 238 shares during the period. Hedge funds and other institutional investors own 93.43% of the company’s stock.
Shares of Alaska Air Group, Inc. (ALK) opened at 85.87 on Monday. The company has a market capitalization of $10.61 billion, a PE ratio of 13.96 and a beta of 0.95. The stock’s 50 day moving average price is $89.87 and its 200-day moving average price is $90.99. Alaska Air Group, Inc. has a 52-week low of $64.19 and a 52-week high of $101.43.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. The company had revenue of $2.10 billion during 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%. Alaska Air Group’s revenue was up 40.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 earnings per share. On average, analysts expect that Alaska Air Group, Inc. will post $7.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.20 annualized dividend and a yield of 1.40%. Alaska Air Group’s dividend payout ratio is presently 19.48%.
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Several research firms recently weighed in on ALK. BidaskClub upgraded Alaska Air Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Morgan Stanley cut their price target on Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Monday, July 17th. Cowen and Company reiterated an “outperform” rating and set a $103.00 price target on shares of Alaska Air Group in a report on Tuesday, June 20th. Zacks Investment Research upgraded Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a report on Tuesday, July 4th. Finally, Bank of America Corporation upped their price target on Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $105.41.
In other Alaska Air Group news, Chairman Bradley D. Tilden sold 6,500 shares of Alaska Air Group stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $88.72, for a total value of $576,680.00. Following the completion of the transaction, the chairman now directly owns 148,446 shares of the company’s stock, valued at approximately $13,170,129.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bradley D. Tilden sold 4,700 shares of Alaska Air Group stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $84.63, for a total value of $397,761.00. Following the completion of the transaction, the chairman now directly owns 148,646 shares of the company’s stock, valued at $12,579,910.98. The disclosure for this sale can be found here. Insiders sold a total of 23,800 shares of company stock valued at $2,139,479 over the last ninety days. 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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