SG Americas Securities LLC reduced its stake in Alaska Air Group, Inc. (NYSE:ALK) by 59.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,736 shares of the transportation company’s stock after selling 19,840 shares during the period. SG Americas Securities LLC’s holdings in Alaska Air Group were worth $1,233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. HPM Partners LLC acquired a new position in shares of Alaska Air Group during the first quarter valued at about $450,000. Daiwa Securities Group Inc. raised its position in shares of Alaska Air Group by 13.3% in the first quarter. Daiwa Securities Group Inc. now owns 17,000 shares of the transportation company’s stock valued at $1,568,000 after buying an additional 2,000 shares during the last quarter. American Century Companies Inc. raised its position in shares of Alaska Air Group by 19.5% in the first quarter. American Century Companies Inc. now owns 70,151 shares of the transportation company’s stock valued at $6,469,000 after buying an additional 11,440 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Alaska Air Group by 1.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 170,070 shares of the transportation company’s stock valued at $15,684,000 after buying an additional 1,973 shares during the last quarter. Finally, Tillar Wenstrup Advisors LLC raised its position in shares of Alaska Air Group by 0.6% in the first quarter. Tillar Wenstrup Advisors LLC now owns 21,237 shares of the transportation company’s stock valued at $1,958,000 after buying an additional 136 shares during the last quarter. Institutional investors own 88.34% of the company’s stock.

Shares of Alaska Air Group, Inc. (ALK) opened at 74.66 on Friday. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 12.14 and a beta of 0.95. The firm’s 50-day moving average is $83.66 and its 200-day moving average is $88.83. Alaska Air Group, Inc. has a 1-year low of $64.19 and a 1-year high of $101.43.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.52 by $0.01. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Alaska Air Group had a net margin of 11.02% and a return on equity of 30.04%. The business’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 earnings per share. Analysts forecast that Alaska Air Group, Inc. will post $7.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, August 18th. Alaska Air Group’s payout ratio is 19.48%.

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Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Morgan Stanley decreased their price target on shares of Alaska Air Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, July 17th. Cowen and Company reiterated an “outperform” rating and issued a $103.00 price target on shares of Alaska Air Group in a research note on Tuesday, June 20th. Zacks Investment Research upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Tuesday, July 4th. Finally, Bank of America Corporation raised their price objective on shares of Alaska Air Group from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $104.86.

In other Alaska Air Group news, Chairman Bradley D. Tilden sold 6,500 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $88.72, for a total transaction of $576,680.00. Following the completion of the sale, the chairman now directly owns 148,446 shares of the company’s stock, valued at $13,170,129.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph A. Sprague sold 7,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $90.85, for a total transaction of $635,950.00. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $653,302.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,850 shares of company stock valued at $2,149,881. Insiders own 0.57% of the company’s stock.

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.

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

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