Advisor Group Inc. lessened its position in Southwest Airlines Co (NYSE:LUV) by 18.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,588 shares of the airline’s stock after selling 11,599 shares during the quarter. Advisor Group Inc.’s holdings in Southwest Airlines were worth $3,377,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in LUV. CIBC Asset Management Inc raised its position in Southwest Airlines by 274.3% in the 3rd quarter. CIBC Asset Management Inc now owns 231,597 shares of the airline’s stock valued at $12,965,000 after buying an additional 169,724 shares during the last quarter. New York State Common Retirement Fund raised its position in Southwest Airlines by 0.9% in the 3rd quarter. New York State Common Retirement Fund now owns 1,664,477 shares of the airline’s stock valued at $93,177,000 after buying an additional 14,219 shares during the last quarter. Ardevora Asset Management LLP acquired a new stake in Southwest Airlines in the 3rd quarter valued at approximately $35,670,000. Bristol Gate Capital Partners Inc. raised its position in Southwest Airlines by 13.8% in the 3rd quarter. Bristol Gate Capital Partners Inc. now owns 577,017 shares of the airline’s stock valued at $32,301,000 after buying an additional 69,760 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Southwest Airlines by 4.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 487,280 shares of the airline’s stock valued at $27,278,000 after buying an additional 21,159 shares during the last quarter. 80.05% of the stock is currently owned by institutional investors and hedge funds.
Southwest Airlines Co (LUV) opened at $60.33 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.64 and a current ratio of 0.70. The firm has a market capitalization of $35,470.00, a P/E ratio of 17.49, a P/E/G ratio of 1.50 and a beta of 1.20. Southwest Airlines Co has a 1-year low of $49.76 and a 1-year high of $66.99.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Tuesday, March 6th. Southwest Airlines’s payout ratio is presently 14.49%.
A number of equities research analysts recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 target price (up previously from $80.00) on shares of Southwest Airlines in a research report on Wednesday, January 10th. Zacks Investment Research lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine lowered Southwest Airlines from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Vetr raised Southwest Airlines from a “hold” rating to a “buy” rating and set a $65.42 target price on the stock in a research report on Thursday, January 25th. Finally, Bank of America lowered Southwest Airlines from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $67.83.
In related news, EVP Robert E. Jordan sold 32,931 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $64.38, for a total transaction of $2,120,097.78. Following the transaction, the executive vice president now directly owns 76,993 shares of the company’s stock, valued at approximately $4,956,809.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gary C. Kelly sold 38,779 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $57.95, for a total value of $2,247,243.05. Following the transaction, the chairman now directly owns 581,029 shares in the company, valued at $33,670,630.55. The disclosure for this sale can be found here. Insiders have sold a total of 131,404 shares of company stock worth $7,815,689 over the last three months. 0.21% of the stock is owned by insiders.
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Southwest Airlines Profile
Southwest Airlines Co (Southwest) operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The Company provides point-to-point service. The Company offers ancillary service offerings, such as Southwest’s EarlyBird Check-In and transportation of pets and unaccompanied minors, in accordance with Southwest’s respective policies.
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