American Airlines Group, Inc. (NASDAQ:AAL) Stake Lowered by Cigna Investments Inc. New
Cigna Investments Inc. New lowered its position in American Airlines Group, Inc. (NASDAQ:AAL) by 10.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,632 shares of the airline’s stock after selling 1,989 shares during the period. Cigna Investments Inc. New’s holdings in American Airlines Group were worth $887,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC purchased a new position in American Airlines Group during the second quarter worth approximately $106,000. First Manhattan Co. boosted its position in American Airlines Group by 3.3% in the second quarter. First Manhattan Co. now owns 2,380 shares of the airline’s stock worth $119,000 after buying an additional 75 shares in the last quarter. D. Scott Neal Inc. purchased a new position in American Airlines Group during the second quarter worth approximately $120,000. Huntington National Bank boosted its position in American Airlines Group by 71.9% in the second quarter. Huntington National Bank now owns 2,629 shares of the airline’s stock worth $132,000 after buying an additional 1,100 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in American Airlines Group by 26.7% in the first quarter. Global X Management Co. LLC now owns 3,528 shares of the airline’s stock worth $149,000 after buying an additional 743 shares in the last quarter. 81.51% of the stock is owned by hedge funds and other institutional investors.
Shares of American Airlines Group, Inc. (NASDAQ AAL) opened at 48.35 on Friday. The stock has a market cap of $23.55 billion, a PE ratio of 12.00 and a beta of 0.96. American Airlines Group, Inc. has a 12 month low of $33.90 and a 12 month high of $54.48. The stock has a 50 day moving average of $51.01 and a 200 day moving average of $46.88.
American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings data on Friday, July 28th. The airline reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.05. American Airlines Group had a net margin of 5.02% and a return on equity of 83.58%. The business had revenue of $11.11 billion during the quarter, compared to analyst estimates of $11.08 billion. During the same quarter last year, the firm posted $1.77 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that American Airlines Group, Inc. will post $5.12 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Thursday, August 10th. American Airlines Group’s payout ratio is 9.88%.
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A number of research firms recently commented on AAL. Vetr raised shares of American Airlines Group from a “buy” rating to a “strong-buy” rating and set a $53.62 price target for the company in a research note on Tuesday, May 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $50.00 price objective (up from $49.00) on shares of American Airlines Group in a research report on Monday, July 10th. Atlantic Securities started coverage on shares of American Airlines Group in a research report on Tuesday, June 20th. They issued an “underweight” rating and a $56.00 price objective for the company. Cowen and Company reissued an “outperform” rating on shares of American Airlines Group in a research report on Friday, April 14th. Finally, Bank of America Corporation boosted their price objective on shares of American Airlines Group from $40.00 to $42.00 and gave the company an “underperform” rating in a research report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $53.57.
In other news, VP Derek J. Kerr sold 104,223 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $50.00, for a total value of $5,211,150.00. Following the completion of the transaction, the vice president now owns 591,195 shares of the company’s stock, valued at $29,559,750. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Elise R. Eberwein sold 33,400 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $49.74, for a total transaction of $1,661,316.00. Following the completion of the transaction, the executive vice president now directly owns 362,368 shares of the company’s stock, valued at approximately $18,024,184.32. The disclosure for this sale can be found here. In the last three months, insiders sold 187,623 shares of company stock valued at $9,389,966. Insiders own 0.64% of the company’s stock.
About American Airlines Group
American Airlines Group Inc is a holding company. The Company’s primary business activity is the operation of a network air carrier, providing scheduled air transportation for passengers and cargo. The Company operates through American segment, which provides air transportation for passengers and cargo.
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