Panagora Asset Management Inc. reduced its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 10.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,632 shares of the transportation company’s stock after selling 1,911 shares during the period. Panagora Asset Management Inc.’s holdings in Alaska Air Group were worth $999,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Alaska Air Group by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,883,681 shares of the transportation company’s stock valued at $175,468,000 after purchasing an additional 503,977 shares during the period. Geode Capital Management LLC grew its position in shares of Alaska Air Group by 9.8% in the fourth quarter. Geode Capital Management LLC now owns 1,858,086 shares of the transportation company’s stock valued at $112,942,000 after purchasing an additional 165,833 shares during the last quarter. Virtu Financial LLC grew its position in shares of Alaska Air Group by 12.3% in the first quarter. Virtu Financial LLC now owns 4,097 shares of the transportation company’s stock valued at $230,000 after purchasing an additional 448 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of Alaska Air Group by 1.0% in the first quarter. Retirement Systems of Alabama now owns 57,328 shares of the transportation company’s stock valued at $3,217,000 after purchasing an additional 540 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Alaska Air Group by 45.6% in the first quarter. Nisa Investment Advisors LLC now owns 32,900 shares of the transportation company’s stock valued at $1,846,000 after purchasing an additional 10,300 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

In other Alaska Air Group news, VP Kyle B. Levine sold 2,430 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $157,950.00. Following the sale, the vice president now directly owns 8,039 shares in the company, valued at approximately $522,535. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.43% of the stock is currently owned by insiders.

A number of analysts recently issued reports on ALK shares. ValuEngine lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Macquarie downgraded shares of Alaska Air Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $79.00 to $63.00 in a research note on Monday, July 29th. Citigroup set a $66.00 target price on shares of Alaska Air Group and gave the company a “hold” rating in a research note on Friday, July 26th. Morgan Stanley raised their target price on shares of Alaska Air Group from $76.00 to $81.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, JPMorgan Chase & Co. raised shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $71.00 to $72.00 in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.36.

Alaska Air Group stock traded down $0.31 during midday trading on Wednesday, reaching $59.80. 46,698 shares of the stock traded hands, compared to its average volume of 1,127,449. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 0.75. The firm has a fifty day moving average price of $63.28 and a two-hundred day moving average price of $61.29. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 0.48 and a beta of 0.86. Alaska Air Group, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $74.83.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.06. Alaska Air Group had a net margin of 6.00% and a return on equity of 16.28%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the firm earned $1.66 EPS. Alaska Air Group’s revenue was up 6.1% on a year-over-year basis. Analysts anticipate that Alaska Air Group, Inc. will post 5.89 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.34%. Alaska Air Group’s dividend payout ratio (DPR) is 31.39%.

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

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