Synovus Financial Corp Sells 36,775 Shares of Delta Air Lines, Inc. (DAL)

Synovus Financial Corp lessened its position in Delta Air Lines, Inc. (NYSE:DAL) by 67.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,373 shares of the transportation company’s stock after selling 36,775 shares during the period. Synovus Financial Corp’s holdings in Delta Air Lines were worth $972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in Delta Air Lines by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 10,086,970 shares of the transportation company’s stock worth $564,870,000 after purchasing an additional 956,945 shares in the last quarter. Boston Partners increased its holdings in Delta Air Lines by 9.4% in the 4th quarter. Boston Partners now owns 8,484,965 shares of the transportation company’s stock worth $475,158,000 after purchasing an additional 726,075 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Delta Air Lines by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,821,694 shares of the transportation company’s stock worth $377,169,000 after purchasing an additional 250,731 shares in the last quarter. LSV Asset Management increased its holdings in Delta Air Lines by 2.6% in the 4th quarter. LSV Asset Management now owns 4,008,613 shares of the transportation company’s stock worth $224,482,000 after purchasing an additional 101,300 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its holdings in Delta Air Lines by 35.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 4,003,366 shares of the transportation company’s stock worth $193,042,000 after purchasing an additional 1,055,182 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Edward H. Bastian sold 20,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $52.79, for a total transaction of $1,055,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Glen W. Hauenstein sold 31,600 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $55.83, for a total value of $1,764,228.00. Following the sale, the president now owns 204,018 shares in the company, valued at approximately $11,390,324.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 343,638 shares of company stock worth $19,592,923. 0.37% of the stock is owned by corporate insiders.

Shares of Delta Air Lines, Inc. (NYSE:DAL) opened at $52.55 on Friday. Delta Air Lines, Inc. has a 52-week low of $43.81 and a 52-week high of $60.79. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.42. The company has a market capitalization of $37,470.00, a PE ratio of 10.20, a P/E/G ratio of 0.71 and a beta of 1.14.

Delta Air Lines (NYSE:DAL) last announced its earnings results on Thursday, January 11th. The transportation company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.88 by $0.08. Delta Air Lines had a return on equity of 26.28% and a net margin of 8.67%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. research analysts forecast that Delta Air Lines, Inc. will post 6.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 23rd will be given a dividend of $0.305 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.22 annualized dividend and a dividend yield of 2.32%. Delta Air Lines’s payout ratio is 23.69%.

Several brokerages have recently weighed in on DAL. Stephens reissued a “buy” rating and issued a $72.00 price target on shares of Delta Air Lines in a research note on Wednesday, January 10th. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 price target (up previously from $75.00) on shares of Delta Air Lines in a research note on Wednesday, January 10th. Zacks Investment Research raised Delta Air Lines from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Thursday, February 8th. Imperial Capital reissued an “outperform” rating and issued a $65.00 price target (up previously from $63.00) on shares of Delta Air Lines in a research note on Friday, January 12th. Finally, Sanford C. Bernstein set a $67.00 price target on Delta Air Lines and gave the company a “buy” rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $65.35.

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About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.

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Institutional Ownership by Quarter for Delta Air Lines (NYSE:DAL)

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