PNC Financial Services Group Inc. Has $3.01 Million Stake in Alaska Air Group, Inc. (ALK)

PNC Financial Services Group Inc. lifted its stake in Alaska Air Group, Inc. (NYSE:ALK) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,714 shares of the transportation company’s stock after acquiring an additional 2,087 shares during the period. PNC Financial Services Group Inc.’s holdings in Alaska Air Group were worth $3,011,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vident Investment Advisory LLC boosted its holdings in shares of Alaska Air Group by 23.0% in the second quarter. Vident Investment Advisory LLC now owns 4,699 shares of the transportation company’s stock worth $284,000 after acquiring an additional 879 shares during the period. BancorpSouth Bank boosted its holdings in shares of Alaska Air Group by 12.5% in the second quarter. BancorpSouth Bank now owns 7,989 shares of the transportation company’s stock worth $482,000 after acquiring an additional 885 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Alaska Air Group by 38.5% in the second quarter. Daiwa Securities Group Inc. now owns 3,238 shares of the transportation company’s stock worth $196,000 after acquiring an additional 900 shares during the period. Mitchell Capital Management Co. boosted its holdings in shares of Alaska Air Group by 14.5% in the second quarter. Mitchell Capital Management Co. now owns 7,214 shares of the transportation company’s stock worth $436,000 after acquiring an additional 916 shares during the period. Finally, Brighton Jones LLC boosted its holdings in shares of Alaska Air Group by 6.6% in the third quarter. Brighton Jones LLC now owns 17,282 shares of the transportation company’s stock worth $1,190,000 after acquiring an additional 1,063 shares during the period. 93.00% of the stock is owned by hedge funds and other institutional investors.

NYSE:ALK opened at $64.94 on Friday. The firm has a market cap of $8.58 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 2.31 and a beta of 0.61. Alaska Air Group, Inc. has a 52-week low of $57.53 and a 52-week high of $76.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.71 and a quick ratio of 0.69.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 25th. The transportation company reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.10. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.20 billion. Alaska Air Group had a return on equity of 15.51% and a net margin of 9.57%. Equities research analysts anticipate that Alaska Air Group, Inc. will post 4.32 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 6th. Investors of record on Tuesday, November 20th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Monday, November 19th. Alaska Air Group’s dividend payout ratio is 19.28%.

In other Alaska Air Group news, 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 sale, the director now owns 36,353 shares of the company’s stock, valued at $2,658,131.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andrew R. Harrison sold 930 shares of Alaska Air Group stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $62.55, for a total value of $58,171.50. Following the sale, the executive vice president now directly owns 21,562 shares of the company’s stock, valued at approximately $1,348,703.10. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

ALK has been the subject of a number of analyst reports. Goldman Sachs Group raised Alaska Air Group from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, November 28th. Imperial Capital raised Alaska Air Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $62.00 to $95.00 in a research note on Thursday, September 27th. Buckingham Research dropped their price objective on Alaska Air Group from $84.00 to $83.00 and set a “buy” rating for the company in a research note on Monday, September 24th. Zacks Investment Research raised Alaska Air Group from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Wolfe Research lowered Alaska Air Group from an “outperform” rating to a “hold” rating in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $80.07.

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About Alaska Air Group

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.

Read More: Why is the ex-dividend date different from the record date?

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Institutional Ownership by Quarter for Alaska Air Group (NYSE:ALK)

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