Russell Investments Group Ltd. cut its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 58.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,856 shares of the transportation company’s stock after selling 55,798 shares during the period. Russell Investments Group Ltd.’s holdings in Alaska Air Group were worth $2,407,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. OppenheimerFunds Inc. lifted its stake in Alaska Air Group by 15.5% during the 1st quarter. OppenheimerFunds Inc. now owns 1,801,328 shares of the transportation company’s stock valued at $111,609,000 after acquiring an additional 241,084 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alaska Air Group by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,455,655 shares of the transportation company’s stock worth $90,192,000 after purchasing an additional 127,603 shares during the period. LSV Asset Management raised its stake in shares of Alaska Air Group by 1.4% during the 2nd quarter. LSV Asset Management now owns 1,131,347 shares of the transportation company’s stock worth $68,322,000 after purchasing an additional 15,500 shares during the period. Diamond Hill Capital Management Inc. raised its stake in shares of Alaska Air Group by 248.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 960,848 shares of the transportation company’s stock worth $58,026,000 after purchasing an additional 685,374 shares during the period. Finally, Guggenheim Capital LLC raised its stake in shares of Alaska Air Group by 11.0% during the 1st quarter. Guggenheim Capital LLC now owns 820,742 shares of the transportation company’s stock worth $50,856,000 after purchasing an additional 81,223 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

Shares of ALK opened at $70.08 on Monday. Alaska Air Group, Inc. has a fifty-two week low of $57.53 and a fifty-two week high of $82.68. The stock has a market capitalization of $8.63 billion, a P/E ratio of 10.55, a PEG ratio of 2.43 and a beta of 0.57. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 0.56.

Alaska Air Group (NYSE:ALK) last announced its quarterly earnings data on Thursday, July 26th. The transportation company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.03. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Alaska Air Group had a return on equity of 16.99% and a net margin of 10.28%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.48 EPS. sell-side analysts expect that Alaska Air Group, Inc. will post 4.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 6th. Shareholders of record on Tuesday, August 21st were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Monday, August 20th. Alaska Air Group’s payout ratio is presently 19.28%.

A number of equities research analysts have recently commented on ALK shares. Citigroup lowered their target price on Alaska Air Group from $73.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 29th. Imperial Capital lowered their target price on Alaska Air Group from $71.00 to $65.00 and set a “line” rating on the stock in a research note on Friday, June 1st. Zacks Investment Research cut Alaska Air Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 10th. Morgan Stanley decreased their price objective on Alaska Air Group from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, July 12th. Finally, Barclays decreased their price objective on Alaska Air Group from $80.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, July 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $78.77.

In other Alaska Air Group news, EVP Shane R. Tackett sold 3,000 shares of Alaska Air Group stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $66.81, for a total transaction of $200,430.00. Following the completion of the transaction, the executive vice president now owns 8,238 shares of the company’s stock, valued at approximately $550,380.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by insiders.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passengers and cargo air transportation services. It also focuses on providing ground and ramp handling services to airlines. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 118 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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