Envestnet Asset Management Inc. lifted its position in Alaska Air Group, Inc. (NYSE:ALK) by 70.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,847 shares of the transportation company’s stock after purchasing an additional 24,365 shares during the period. Envestnet Asset Management Inc.’s holdings in Alaska Air Group were worth $4,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALK. Schroder Investment Management Group lifted its position in Alaska Air Group by 41.2% during the second quarter. Schroder Investment Management Group now owns 773,245 shares of the transportation company’s stock valued at $68,897,000 after purchasing an additional 225,600 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alaska Air Group by 78.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 805,723 shares of the transportation company’s stock worth $72,323,000 after acquiring an additional 353,166 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Alaska Air Group by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 161,010 shares of the transportation company’s stock worth $14,453,000 after acquiring an additional 16,407 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its holdings in shares of Alaska Air Group by 3.9% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 43,883 shares of the transportation company’s stock worth $3,347,000 after acquiring an additional 1,650 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Alaska Air Group by 149.3% in the 2nd quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after acquiring an additional 737,020 shares during the last quarter. 88.69% of the stock is owned by hedge funds and other institutional investors.

Shares of Alaska Air Group, Inc. (ALK) traded up $0.22 during midday trading on Monday, hitting $69.96. The company had a trading volume of 57,893 shares, compared to its average volume of 1,486,641. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.68. Alaska Air Group, Inc. has a 52-week low of $61.10 and a 52-week high of $101.43. The firm has a market capitalization of $8,580.00, a P/E ratio of 9.48 and a beta of 1.03.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.02). Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business posted $2.20 EPS. Alaska Air Group’s revenue was up 35.4% compared to the same quarter last year. research analysts expect that Alaska Air Group, Inc. will post 6.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Tuesday, November 21st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Monday, November 20th. Alaska Air Group’s dividend payout ratio (DPR) is currently 19.23%.

In other Alaska Air Group news, CEO David L. Campbell sold 4,934 shares of Alaska Air Group stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $68.00, for a total transaction of $335,512.00. Following the sale, the chief executive officer now directly owns 9,648 shares in the company, valued at approximately $656,064. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew R. Harrison sold 540 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $65.53, for a total value of $35,386.20. Following the transaction, the executive vice president now owns 20,788 shares of the company’s stock, valued at $1,362,237.64. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

ALK has been the topic of several recent analyst reports. Morgan Stanley set a $78.00 price target on shares of Alaska Air Group and gave the stock a “buy” rating in a research note on Thursday, November 16th. Imperial Capital cut their target price on shares of Alaska Air Group from $85.00 to $70.00 and set a “line” rating on the stock in a research report on Thursday, October 26th. J P Morgan Chase & Co downgraded shares of Alaska Air Group from an “overweight” rating to a “neutral” rating and set a $74.00 target price on the stock. in a research report on Wednesday, November 1st. ValuEngine downgraded shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Cowen restated a “buy” rating and issued a $103.00 price target on shares of Alaska Air Group in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $91.27.

COPYRIGHT VIOLATION WARNING: “Envestnet Asset Management Inc. Has $4.49 Million Stake in Alaska Air Group, Inc. (ALK)” was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://www.dailypolitical.com/2017/12/11/envestnet-asset-management-inc-has-4-49-million-stake-in-alaska-air-group-inc-alk.html.

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.

Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

Receive News & Ratings for Alaska Air Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alaska Air Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.