American Airlines Group Inc (AAL) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its stake in American Airlines Group Inc (NASDAQ:AAL) by 116.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,410 shares of the airline’s stock after buying an additional 108,300 shares during the period. Canada Pension Plan Investment Board’s holdings in American Airlines Group were worth $8,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale boosted its holdings in American Airlines Group by 35.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 6,843 shares of the airline’s stock valued at $295,000 after purchasing an additional 1,786 shares during the last quarter. CIBC World Markets Inc. boosted its holdings in American Airlines Group by 70.4% in the third quarter. CIBC World Markets Inc. now owns 59,336 shares of the airline’s stock valued at $2,452,000 after purchasing an additional 24,511 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in American Airlines Group by 11.0% in the third quarter. Rafferty Asset Management LLC now owns 47,640 shares of the airline’s stock valued at $1,969,000 after purchasing an additional 4,724 shares during the last quarter. American International Group Inc. boosted its holdings in American Airlines Group by 3.2% in the third quarter. American International Group Inc. now owns 205,667 shares of the airline’s stock valued at $8,500,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Hourglass Capital LLC boosted its holdings in American Airlines Group by 19.7% in the third quarter. Hourglass Capital LLC now owns 281,916 shares of the airline’s stock valued at $11,652,000 after purchasing an additional 46,400 shares during the last quarter. 81.16% of the stock is owned by institutional investors.

Shares of American Airlines Group stock opened at $33.57 on Friday. The company has a market cap of $17.01 billion, a PE ratio of 8.28, a P/E/G ratio of 1.07 and a beta of 1.15. American Airlines Group Inc has a twelve month low of $30.24 and a twelve month high of $59.08.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, October 25th. The airline reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The business had revenue of $11.56 billion for the quarter, compared to analysts’ expectations of $11.55 billion. American Airlines Group had a return on equity of 568.86% and a net margin of 3.06%. Research analysts predict that American Airlines Group Inc will post 4.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, November 5th. American Airlines Group’s payout ratio is 8.20%.

Several brokerages have issued reports on AAL. Buckingham Research cut their price objective on American Airlines Group from $57.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, October 10th. Citigroup cut their price objective on American Airlines Group from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, October 10th. Macquarie set a $45.00 price objective on American Airlines Group and gave the company a “buy” rating in a research note on Monday, October 8th. Bank of America cut their price objective on American Airlines Group from $61.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, October 10th. Finally, JPMorgan Chase & Co. set a $53.00 price objective on American Airlines Group and gave the company a “buy” rating in a research note on Monday, October 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $50.53.

In related news, Director Jeffrey D. Benjamin purchased 15,000 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were acquired at an average cost of $35.69 per share, for a total transaction of $535,350.00. Following the transaction, the director now owns 22,146 shares of the company’s stock, valued at $790,390.74. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John T. Cahill purchased 25,000 shares of the company’s stock in a transaction dated Monday, October 29th. The shares were bought at an average price of $33.47 per share, for a total transaction of $836,750.00. Following the completion of the transaction, the director now directly owns 6,531 shares in the company, valued at approximately $218,592.57. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/12/08/american-airlines-group-inc-aal-shares-bought-by-canada-pension-plan-investment-board.html.

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, 2017, the company operated a mainline fleet of 948 aircraft. It serves 350 destinations in approximately 50 countries, principally from its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, and Phoenix, as well as in Washington, DC The company was formerly known as AMR Corporation and changed its name to American Airlines Group Inc in December 2013.

Featured Story: Moving Average – How it Helps Investors in Stock Selection

Want to see what other hedge funds are holding AAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Airlines Group Inc (NASDAQ:AAL).

Institutional Ownership by Quarter for American Airlines Group (NASDAQ:AAL)

Receive News & Ratings for American Airlines Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Airlines Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply