Alaska Air Group, Inc. (NYSE:ALK) Stake Increased by Smithfield Trust Co.
Smithfield Trust Co. boosted its stake in Alaska Air Group, Inc. (NYSE:ALK) by 8.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,391 shares of the transportation company’s stock after buying an additional 189 shares during the period. Smithfield Trust Co.’s holdings in Alaska Air Group were worth $215,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its position in shares of Alaska Air Group by 57.9% in the second quarter. Bessemer Group Inc. now owns 1,895 shares of the transportation company’s stock valued at $171,000 after buying an additional 695 shares during the period. Twin Tree Management LP purchased a new position in shares of Alaska Air Group during the first quarter valued at about $179,000. Assetmark Inc. boosted its position in shares of Alaska Air Group by 70.3% in the first quarter. Assetmark Inc. now owns 2,027 shares of the transportation company’s stock valued at $187,000 after buying an additional 837 shares during the period. Rehmann Capital Advisory Group purchased a new position in shares of Alaska Air Group during the second quarter valued at about $201,000. Finally, Insight Capital Research & Management Inc. purchased a new position in shares of Alaska Air Group during the second quarter valued at about $215,000. 93.43% of the stock is owned by institutional investors and hedge funds.
Shares of Alaska Air Group, Inc. (NYSE ALK) opened at 86.00 on Tuesday. Alaska Air Group, Inc. has a 12 month low of $64.19 and a 12 month high of $101.43. The company’s 50-day moving average is $89.87 and its 200 day moving average is $90.99. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 13.99 and a beta of 0.95.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $2.51 EPS 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 analysts’ expectations of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The business’s revenue for the quarter was up 40.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 earnings per share. On average, equities research analysts anticipate 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. Investors of record on Tuesday, August 22nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, August 18th. Alaska Air Group’s payout ratio is currently 19.48%.
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Several brokerages have issued reports on ALK. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 target price on shares of Alaska Air Group in a report on Friday, May 26th. BidaskClub lowered shares of Alaska Air Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Morgan Stanley lifted their price target on shares of Alaska Air Group from $102.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, April 28th. Cowen and Company upgraded shares of Alaska Air Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $102.00 to $103.00 in a research note on Monday, April 24th. Finally, Bank of America Corporation lifted their price target on shares of Alaska Air Group from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $105.41.
In related news, Chairman Bradley D. Tilden sold 4,700 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 148,646 shares in the company, valued at approximately $12,579,910.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Joseph A. Sprague sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $90.85, for a total transaction of $635,950.00. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at approximately $653,302.35. 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. 0.57% of the stock is currently owned by insiders.
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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