Amundi Pioneer Asset Management Inc. Reduces Position in Southwest Airlines Company (LUV)
Amundi Pioneer Asset Management Inc. lessened its holdings in shares of Southwest Airlines Company (NYSE:LUV) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 432,034 shares of the airline’s stock after selling 11,551 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.07% of Southwest Airlines worth $24,185,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Sumitomo Life Insurance Co. boosted its holdings in Southwest Airlines by 278.7% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 12,413 shares of the airline’s stock valued at $771,000 after purchasing an additional 9,135 shares during the last quarter. NGAM Advisors L.P. boosted its holdings in Southwest Airlines by 6.8% in the 2nd quarter. NGAM Advisors L.P. now owns 100,094 shares of the airline’s stock valued at $6,220,000 after purchasing an additional 6,348 shares during the last quarter. Eagle Global Advisors LLC acquired a new position in Southwest Airlines in the 2nd quarter valued at about $407,000. Great West Life Assurance Co. Can boosted its holdings in Southwest Airlines by 159.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 547,243 shares of the airline’s stock valued at $33,949,000 after purchasing an additional 336,192 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. acquired a new position in Southwest Airlines in the 2nd quarter valued at about $249,000. 78.86% of the stock is owned by institutional investors.
Shares of Southwest Airlines Company (LUV) traded up $2.71 during mid-day trading on Thursday, hitting $58.88. 9,702,500 shares of the stock traded hands, compared to its average volume of 5,193,369. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 0.61. Southwest Airlines Company has a 52-week low of $44.70 and a 52-week high of $64.39. The firm has a market cap of $33,330.58, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.86 and a beta of 1.31.
Southwest Airlines (NYSE:LUV) last issued its quarterly earnings data on Thursday, October 26th. The airline reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.29 billion. Southwest Airlines had a net margin of 10.12% and a return on equity of 24.85%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. analysts forecast that Southwest Airlines Company will post 3.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 7th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Wednesday, December 6th. Southwest Airlines’s dividend payout ratio (DPR) is 14.37%.
Several equities analysts have weighed in on LUV shares. Deutsche Bank reiterated a “buy” rating and issued a $71.00 target price on shares of Southwest Airlines in a report on Friday, October 27th. Morgan Stanley reiterated an “overweight” rating on shares of Southwest Airlines in a report on Tuesday, September 12th. J P Morgan Chase & Co boosted their target price on shares of Southwest Airlines from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Vetr lowered shares of Southwest Airlines from a “strong-buy” rating to a “sell” rating and set a $48.78 target price on the stock. in a report on Monday, November 6th. Finally, Zacks Investment Research lowered shares of Southwest Airlines from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Two equities research 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. The stock currently has a consensus rating of “Buy” and an average price target of $66.89.
In related news, Director John T. Montford sold 935 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $53.94, for a total value of $50,433.90. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $1,348,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.21% of the company’s stock.
Southwest Airlines 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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