Court Place Advisors LLC raised its stake in Alaska Air Group Inc. (NYSE:ALK) by 27.2% during the second quarter, Holdings Channel reports. The firm owned 4,795 shares of the company’s stock after buying an additional 1,025 shares during the period. Court Place Advisors LLC’s holdings in Alaska Air Group were worth $280,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Street Corp boosted its stake in shares of Alaska Air Group by 1.5% in the first quarter. State Street Corp now owns 3,254,318 shares of the company’s stock valued at $266,917,000 after buying an additional 47,389 shares during the period. Wellington Management Group LLP raised its position in Alaska Air Group by 37.8% in the first quarter. Wellington Management Group LLP now owns 1,769,954 shares of the company’s stock valued at $145,171,000 after buying an additional 485,864 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Alaska Air Group by 10.0% in the first quarter. TIAA CREF Investment Management LLC now owns 1,404,713 shares of the company’s stock valued at $115,215,000 after buying an additional 127,365 shares in the last quarter. Geode Capital Management LLC raised its position in Alaska Air Group by 3.8% in the first quarter. Geode Capital Management LLC now owns 819,428 shares of the company’s stock valued at $67,209,000 after buying an additional 30,102 shares in the last quarter. Finally, Norges Bank purchased a new position in Alaska Air Group during the fourth quarter valued at $57,407,000. 88.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alaska Air Group Inc. (NYSE:ALK) traded down 0.29% during mid-day trading on Tuesday, hitting $65.50. 551,089 shares of the stock were exchanged. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 9.07 and a beta of 0.85. Alaska Air Group Inc. has a 52 week low of $54.51 and a 52 week high of $87.17. The stock’s 50-day moving average is $67.05 and its 200-day moving average is $69.20.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Thursday, July 21st. The company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.03. Alaska Air Group had a net margin of 15.86% and a return on equity of 36.88%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm earned $1.76 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Analysts forecast that Alaska Air Group Inc. will post $7.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, August 16th. Alaska Air Group’s payout ratio is currently 15.26%.

Several research firms have recently weighed in on ALK. Raymond James Financial Inc. lowered shares of Alaska Air Group from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $105.00 to $88.00 in a research note on Tuesday, June 14th. Cowen and Company lowered their price objective on shares of Alaska Air Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 14th. Zacks Investment Research lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Credit Suisse Group AG upgraded shares of Alaska Air Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $70.00 to $85.00 in a research note on Monday, July 25th. Finally, JPMorgan Chase & Co. upgraded shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and set a $78.50 price objective on the stock in a research note on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alaska Air Group has an average rating of “Buy” and an average price target of $87.52.

In related news, VP Brandon Pedersen sold 9,943 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $70.52, for a total transaction of $701,180.36. Following the transaction, the vice president now directly owns 13,360 shares of the company’s stock, valued at $942,147.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark G. Eliasen sold 4,560 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $68.19, for a total transaction of $310,946.40. Following the transaction, the vice president now directly owns 5,302 shares in the company, valued at $361,543.38. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

About Alaska Air Group

Alaska Air Group, Inc is the holding company of Alaska Airlines (Alaska) and Horizon Air (Horizon). The Company operates through three segments: Alaska Mainline, Alaska Regional and Horizon. Its Alaska Mainline segment operates the Boeing 737 part of Alaska’s business. It offers north/south service within the western United States, Canada, Mexico and Costa Rica, as well as passenger and dedicated cargo services to and within the state of Alaska.

5 Day Chart for NYSE:ALK

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