JPMorgan Chase & Co. Decreases Position in Alaska Air Group, Inc. (ALK)

JPMorgan Chase & Co. lowered its stake in Alaska Air Group, Inc. (NYSE:ALK) by 29.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 571,198 shares of the transportation company’s stock after selling 234,525 shares during the period. JPMorgan Chase & Co. owned approximately 0.46% of Alaska Air Group worth $43,336,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group grew its position in shares of Alaska Air Group by 41.2% during the 2nd quarter. Schroder Investment Management Group now owns 773,245 shares of the transportation company’s stock worth $68,897,000 after purchasing an additional 225,600 shares in the last quarter. Legal & General Group Plc grew its position in shares of Alaska Air Group by 11.3% during the 2nd quarter. Legal & General Group Plc now owns 161,010 shares of the transportation company’s stock worth $14,453,000 after purchasing an additional 16,407 shares in the last quarter. Financial Engines Advisors L.L.C. grew its position in shares of Alaska Air Group by 3.9% during 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 purchasing an additional 1,650 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Alaska Air Group by 149.3% during the 2nd quarter. Principal Financial Group Inc. now owns 1,230,588 shares of the transportation company’s stock worth $110,457,000 after purchasing an additional 737,020 shares in the last quarter. Finally, Baltimore Capital Management Inc. grew its position in shares of Alaska Air Group by 505.0% during the 2nd quarter. Baltimore Capital Management Inc. now owns 38,570 shares of the transportation company’s stock worth $3,462,000 after purchasing an additional 32,195 shares in the last quarter. Institutional investors and hedge funds own 88.46% of the company’s stock.

Several analysts recently issued reports on ALK shares. Barclays reiterated a “buy” rating on shares of Alaska Air Group in a research report on Thursday, September 14th. Cowen reiterated a “buy” rating and set a $103.00 price target on shares of Alaska Air Group in a research report on Tuesday, September 12th. Stifel Nicolaus reiterated a “buy” rating and set a $125.00 price target on shares of Alaska Air Group in a research report on Saturday, September 23rd. ValuEngine lowered shares of Alaska Air Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Bank of America reduced their price target on shares of Alaska Air Group from $100.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. Alaska Air Group presently has a consensus rating of “Buy” and an average target price of $91.27.

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

Alaska Air Group, Inc. (NYSE ALK) opened at $69.74 on Friday. The company has a market cap of $8,581.16, a P/E ratio of 9.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.80 and a quick ratio of 0.78. Alaska Air Group, Inc. has a 52 week low of $61.10 and a 52 week high of $101.43.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $2.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.02). The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.13 billion. Alaska Air Group had a net margin of 10.34% and a return on equity of 28.74%. Alaska Air Group’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 EPS. equities analysts expect that Alaska Air Group, Inc. will post 6.75 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Investors of record on Tuesday, November 21st were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.72%. The ex-dividend date was Monday, November 20th. Alaska Air Group’s payout ratio is 19.26%.

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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.

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

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