Pictet Asset Management Ltd. Sells 4,300 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Pictet Asset Management Ltd. reduced its stake in Alaska Air Group, Inc. (NYSE:ALK) by 25.6% in the 1st quarter, HoldingsChannel reports. The firm owned 12,500 shares of the transportation company’s stock after selling 4,300 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Alaska Air Group were worth $702,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mason Street Advisors LLC raised its holdings in shares of Alaska Air Group by 1.0% during the first quarter. Mason Street Advisors LLC now owns 17,564 shares of the transportation company’s stock valued at $986,000 after buying an additional 181 shares during the last quarter. Stephens Inc. AR grew its position in Alaska Air Group by 2.0% in the first quarter. Stephens Inc. AR now owns 9,786 shares of the transportation company’s stock worth $549,000 after buying an additional 192 shares during the last quarter. State Treasurer State of Michigan grew its position in Alaska Air Group by 0.6% in the first quarter. State Treasurer State of Michigan now owns 35,496 shares of the transportation company’s stock worth $1,992,000 after buying an additional 200 shares during the last quarter. Dupont Capital Management Corp grew its position in Alaska Air Group by 14.9% in the fourth quarter. Dupont Capital Management Corp now owns 1,667 shares of the transportation company’s stock worth $101,000 after buying an additional 216 shares during the last quarter. Finally, Sandy Spring Bank grew its position in Alaska Air Group by 58.8% in the first quarter. Sandy Spring Bank now owns 794 shares of the transportation company’s stock worth $45,000 after buying an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Several research firms have issued reports on ALK. Zacks Investment Research upgraded shares of Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. upgraded shares of Alaska Air Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $71.00 to $72.00 in a research report on Tuesday, April 30th. ValuEngine lowered shares of Alaska Air Group from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Deutsche Bank decreased their price target on shares of Alaska Air Group from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Credit Suisse Group set a $76.00 price target on shares of Alaska Air Group and gave the stock a “buy” rating in a research report on Friday, April 12th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $76.43.

Shares of NYSE:ALK opened at $60.96 on Thursday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 0.62 and a beta of 0.84. Alaska Air Group, Inc. has a 12-month low of $53.39 and a 12-month high of $74.83. 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 (NYSE:ALK) last issued its earnings results on Thursday, April 25th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Alaska Air Group had a net margin of 5.26% and a return on equity of 14.97%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Equities analysts forecast that Alaska Air Group, Inc. will post 5.7 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, May 20th. Alaska Air Group’s dividend payout ratio (DPR) is currently 31.39%.

In related news, EVP Andrew R. Harrison sold 1,600 shares of Alaska Air Group stock in a transaction 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 sale, the executive vice president now owns 20,567 shares of the company’s stock, valued at approximately $1,265,487.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 4,700 shares of Alaska Air Group stock in a transaction 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 sale, the executive vice president now directly owns 15,867 shares of the company’s stock, valued at approximately $993,750.21. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

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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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