Legal & General Group Plc lowered its position in Southwest Airlines Co (NYSE:LUV) by 7.7% during the second quarter, Holdings Channel reports. The institutional investor owned 917,488 shares of the airline’s stock after selling 77,038 shares during the period. Legal & General Group Plc’s holdings in Southwest Airlines were worth $46,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Archford Capital Strategies LLC purchased a new stake in Southwest Airlines in the first quarter valued at approximately $121,000. Private Capital Group LLC boosted its position in Southwest Airlines by 819.2% in the first quarter. Private Capital Group LLC now owns 1,866 shares of the airline’s stock valued at $107,000 after buying an additional 1,663 shares during the last quarter. Clarus Wealth Advisors purchased a new stake in Southwest Airlines in the second quarter valued at approximately $107,000. CWM LLC purchased a new stake in Southwest Airlines in the second quarter valued at approximately $109,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in Southwest Airlines in the first quarter valued at approximately $128,000. Hedge funds and other institutional investors own 78.15% of the company’s stock.

In other news, SVP Mark R. Shaw sold 4,910 shares of the stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $58.35, for a total transaction of $286,498.50. Following the transaction, the senior vice president now owns 11,546 shares in the company, valued at approximately $673,709.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John T. Montford sold 430 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $58.27, for a total value of $25,056.10. Following the transaction, the director now owns 23,853 shares in the company, valued at approximately $1,389,914.31. The disclosure for this sale can be found here. Insiders have sold a total of 11,470 shares of company stock worth $674,941 in the last quarter. Insiders own 0.23% of the company’s stock.

A number of brokerages recently commented on LUV. Argus upgraded Southwest Airlines from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Friday. Buckingham Research set a $73.00 price objective on Southwest Airlines and gave the stock a “buy” rating in a research report on Friday. Imperial Capital upped their price objective on Southwest Airlines from $54.00 to $60.00 and gave the stock an “inline” rating in a research report on Wednesday, August 22nd. Wolfe Research lowered Southwest Airlines from an “outperform” rating to a “peer perform” rating in a research report on Friday, August 24th. Finally, Morgan Stanley restated a “buy” rating on shares of Southwest Airlines in a research report on Tuesday, August 14th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $68.45.

Southwest Airlines stock opened at $61.90 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.64 and a current ratio of 0.70. Southwest Airlines Co has a 12 month low of $49.93 and a 12 month high of $66.99. The company has a market capitalization of $34.97 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.20 and a beta of 1.10.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings data on Thursday, July 26th. The airline reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.03. Southwest Airlines had a return on equity of 22.16% and a net margin of 16.90%. The business had revenue of $5.74 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. sell-side analysts expect that Southwest Airlines Co will post 4.18 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 12th. Stockholders of record on Wednesday, August 22nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, August 21st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.03%. Southwest Airlines’s dividend payout ratio (DPR) is 18.29%.

Southwest Airlines Profile

Southwest Airlines Co operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2017, the company operated a total of 706 Boeing 737 aircraft; and served 100 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

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Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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