M&T Bank Corp Sells 12,330 Shares of Alaska Air Group, Inc. (ALK)

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M&T Bank Corp trimmed its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 60.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,199 shares of the transportation company’s stock after selling 12,330 shares during the quarter. M&T Bank Corp’s holdings in Alaska Air Group were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ALK. Vanguard Group Inc lifted its position in shares of Alaska Air Group by 1.1% during the third quarter. Vanguard Group Inc now owns 12,380,127 shares of the transportation company’s stock valued at $852,494,000 after purchasing an additional 130,958 shares in the last quarter. BlackRock Inc. lifted its position in shares of Alaska Air Group by 1.2% during the third quarter. BlackRock Inc. now owns 6,917,114 shares of the transportation company’s stock valued at $476,313,000 after purchasing an additional 82,310 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Alaska Air Group by 0.4% during the third quarter. Primecap Management Co. CA now owns 6,024,607 shares of the transportation company’s stock valued at $414,854,000 after purchasing an additional 23,300 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Alaska Air Group by 0.3% during the third quarter. Franklin Resources Inc. now owns 3,225,576 shares of the transportation company’s stock valued at $222,113,000 after purchasing an additional 10,502 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Alaska Air Group by 50.7% during the third quarter. Alliancebernstein L.P. now owns 2,584,097 shares of the transportation company’s stock valued at $177,941,000 after purchasing an additional 869,058 shares in the last quarter. 90.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on ALK. Imperial Capital raised their price target on shares of Alaska Air Group from $90.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, November 29th. Bank of America reissued a “neutral” rating and set a $71.00 price target (up from $63.00) on shares of Alaska Air Group in a research report on Thursday, November 29th. Buckingham Research raised their price target on shares of Alaska Air Group from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, November 30th. Cowen reissued an “outperform” rating and set a $84.00 price target (up from $80.00) on shares of Alaska Air Group in a research report on Wednesday, November 28th. Finally, Goldman Sachs Group raised shares of Alaska Air Group from a “buy” rating to a “conviction-buy” rating in a research report on Wednesday, November 28th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.50.

NYSE ALK opened at $64.56 on Wednesday. Alaska Air Group, Inc. has a 52-week low of $57.28 and a 52-week high of $74.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.69. The stock has a market cap of $8.17 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.77 and a beta of 0.88.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, January 24th. The transportation company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.02. Alaska Air Group had a net margin of 5.29% and a return on equity of 15.20%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the company posted $0.83 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Alaska Air Group, Inc. will post 6.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Tuesday, February 19th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, February 15th. This is an increase from Alaska Air Group’s previous quarterly dividend of $0.32. Alaska Air Group’s dividend payout ratio (DPR) is 31.39%.

In other news, VP Christopher Michael Berry sold 750 shares of Alaska Air Group stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $67.14, for a total value of $50,355.00. Following the completion of the transaction, the vice president now owns 1,233 shares in the company, valued at $82,783.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Kenneth Thompson sold 2,500 shares of Alaska Air Group stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $73.12, for a total transaction of $182,800.00. Following the completion of the transaction, the director now owns 36,353 shares of the company’s stock, valued at approximately $2,658,131.36. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

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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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