Cognios Capital LLC Increases Stake in Alaska Air Group, Inc. (NYSE:ALK)

Cognios Capital LLC lifted its stake in shares of Alaska Air Group, Inc. (NYSE:ALK) by 26.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,832 shares of the transportation company’s stock after purchasing an additional 8,425 shares during the quarter. Cognios Capital LLC’s holdings in Alaska Air Group were worth $2,234,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in shares of Alaska Air Group by 10.1% during the 1st quarter. State of Alaska Department of Revenue now owns 26,274 shares of the transportation company’s stock worth $1,473,000 after purchasing an additional 2,409 shares in the last quarter. Verity Asset Management Inc. lifted its position in Alaska Air Group by 17.9% in the 4th quarter. Verity Asset Management Inc. now owns 5,407 shares of the transportation company’s stock valued at $329,000 after acquiring an additional 820 shares in the last quarter. AlphaMark Advisors LLC bought a new position in Alaska Air Group in the 1st quarter valued at about $2,227,000. BB&T Corp lifted its position in Alaska Air Group by 6.7% in the 1st quarter. BB&T Corp now owns 83,138 shares of the transportation company’s stock valued at $4,666,000 after acquiring an additional 5,190 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Alaska Air Group by 1,222.5% in the 4th quarter. Nuveen Asset Management LLC now owns 160,409 shares of the transportation company’s stock valued at $9,761,000 after acquiring an additional 148,280 shares in the last quarter. 88.42% of the stock is currently owned by institutional investors.

Several equities analysts recently weighed in on ALK shares. Buckingham Research dropped their price target on shares of Alaska Air Group from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, March 8th. Zacks Investment Research cut shares of Alaska Air Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 16th. Citigroup dropped their price target on shares of Alaska Air Group from $74.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 6th. ValuEngine cut shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Finally, Imperial Capital reaffirmed an “in-line” rating and issued a $68.00 price target (up previously from $61.00) on shares of Alaska Air Group in a research report on Wednesday, June 19th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $74.97.

Shares of ALK stock traded up $0.80 during trading hours on Friday, hitting $63.91. 2,179,141 shares of the company were exchanged, compared to its average volume of 1,000,548. The company’s fifty day moving average price is $61.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.59 and a quick ratio of 0.57. Alaska Air Group, Inc. has a 52-week low of $53.39 and a 52-week high of $74.83. The firm has a market cap of $7.90 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.63 and a beta of 0.84.

Alaska Air Group (NYSE:ALK) last issued its quarterly earnings results on Thursday, April 25th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business posted $0.14 EPS. Alaska Air Group’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts forecast that Alaska Air Group, Inc. will post 5.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.40 annualized dividend and a dividend yield of 2.19%. Alaska Air Group’s payout ratio is currently 31.39%.

In related news, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $61.53, for a total value of $98,448.00. Following the completion of the transaction, the executive vice president now directly owns 20,567 shares in the company, valued at approximately $1,265,487.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andrew R. Harrison sold 4,700 shares of Alaska Air Group stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $62.63, for a total transaction of $294,361.00. Following the completion of the transaction, the executive vice president now owns 15,867 shares of the company’s stock, valued at $993,750.21. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It has a network of approximately 1,200 daily flights to 115 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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