Nissay Asset Management Corp Japan ADV increased its position in shares of American Airlines Group Inc (NASDAQ:AAL) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,822 shares of the airline’s stock after buying an additional 585 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in American Airlines Group were worth $503,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its stake in shares of American Airlines Group by 2,405.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,249,791 shares of the airline’s stock valued at $132,000 after purchasing an additional 4,080,170 shares in the last quarter. FMR LLC increased its holdings in American Airlines Group by 37.5% during the 4th quarter. FMR LLC now owns 14,226,885 shares of the airline’s stock worth $456,824,000 after purchasing an additional 3,883,285 shares during the last quarter. Norges Bank purchased a new stake in American Airlines Group during the 4th quarter worth approximately $86,014,000. Harris Associates L P increased its holdings in American Airlines Group by 14.0% during the 4th quarter. Harris Associates L P now owns 18,951,352 shares of the airline’s stock worth $608,528,000 after purchasing an additional 2,328,627 shares during the last quarter. Finally, Anchor Bolt Capital LP purchased a new stake in American Airlines Group during the 4th quarter worth approximately $57,924,000. Hedge funds and other institutional investors own 79.41% of the company’s stock.
AAL traded down $0.41 during mid-day trading on Friday, reaching $32.68. The stock had a trading volume of 5,951,193 shares, compared to its average volume of 7,220,080. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 7.18 and a beta of 1.61. American Airlines Group Inc has a 52 week low of $27.02 and a 52 week high of $43.89.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.40 annualized dividend and a yield of 1.22%. American Airlines Group’s dividend payout ratio is presently 8.79%.
A number of equities research analysts have recently weighed in on the company. Cowen lowered their price target on American Airlines Group from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. Imperial Capital reiterated an “in-line” rating and issued a $41.00 price target (down from $43.00) on shares of American Airlines Group in a report on Tuesday, April 30th. BidaskClub downgraded American Airlines Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Zacks Investment Research upgraded American Airlines Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Barclays lowered their price objective on American Airlines Group from $60.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, May 20th. Three analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $43.31.
In related news, Director John T. Cahill bought 25,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average price of $28.60 per share, with a total value of $715,000.00. Following the completion of the transaction, the director now owns 3,494 shares in the company, valued at $99,928.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO W Douglas Parker bought 50,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average cost of $28.09 per share, for a total transaction of $1,404,500.00. Following the transaction, the chief executive officer now owns 2,201,636 shares of the company’s stock, valued at approximately $61,843,955.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 95,000 shares of company stock worth $2,674,350. Corporate insiders own 0.70% of the company’s stock.
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About American Airlines Group
American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. It provides scheduled air transportation services for passengers and cargo. As of December 31, 2018, the company operated a mainline fleet of 956 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, London Heathrow, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.
Further Reading: Average Daily Trade Volume – ADTV
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