State of Alaska Department of Revenue grew its position in Alaska Air Group, Inc. (NYSE:ALK) by 10.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,274 shares of the transportation company’s stock after purchasing an additional 2,409 shares during the quarter. State of Alaska Department of Revenue’s holdings in Alaska Air Group were worth $1,473,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in ALK. We Are One Seven LLC bought a new position in Alaska Air Group during the fourth quarter worth $34,000. North Star Investment Management Corp. acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at $49,000. Enlightenment Research LLC acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at $61,000. Legacy Financial Advisors Inc. boosted its stake in shares of Alaska Air Group by 134.4% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,261 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 723 shares in the last quarter. Finally, Bremer Trust National Association acquired a new stake in shares of Alaska Air Group in the 4th quarter valued at $94,000. 88.26% of the stock is currently owned by institutional investors.
In other news, EVP Andrew R. Harrison sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $62.93, for a total value of $251,720.00. Following the completion of the sale, the executive vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $1,394,969.31. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brandon Pedersen sold 4,026 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $62.00, for a total value of $249,612.00. Following the completion of the sale, the vice president now directly owns 26,524 shares of the company’s stock, valued at $1,644,488. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,776 shares of company stock valued at $551,687. 0.43% of the stock is currently owned by company insiders.
Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, April 25th. The transportation company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Alaska Air Group had a return on equity of 14.97% and a net margin of 5.26%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. As a group, equities analysts predict that Alaska Air Group, Inc. will post 5.75 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.28%. Alaska Air Group’s dividend payout ratio (DPR) is presently 31.39%.
ALK has been the topic of several recent analyst reports. Credit Suisse Group set a $76.00 target price on shares of Alaska Air Group and gave the company a “buy” rating in a research note on Friday, April 12th. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Tuesday, March 5th. Buckingham Research reduced their target price on shares of Alaska Air Group from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, March 8th. Deutsche Bank reduced their target price on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, TheStreet downgraded shares of Alaska Air Group from a “b-” rating to a “c” rating in a research report on Thursday, January 24th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $76.10.
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Alaska Air Group Profile
Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 destinations across the United States, Mexico, Canada, and Costa Rica.
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