Prudential Financial Inc. Trims Stake in Alaska Air Group, Inc. (NYSE:ALK)

Prudential Financial Inc. lowered its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 13.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 222,575 shares of the transportation company’s stock after selling 34,814 shares during the quarter. Prudential Financial Inc.’s holdings in Alaska Air Group were worth $14,412,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ALK. Maryland State Retirement & Pension System raised its stake in Alaska Air Group by 0.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company’s stock valued at $3,231,000 after purchasing an additional 147 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Alaska Air Group by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company’s stock worth $1,931,000 after buying an additional 160 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Alaska Air Group by 44.8% during the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company’s stock valued at $38,000 after buying an additional 182 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Alaska Air Group by 3.4% during the 4th quarter. Savant Capital LLC now owns 6,284 shares of the transportation company’s stock worth $407,000 after acquiring an additional 206 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in Alaska Air Group by 1.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company’s stock worth $1,245,000 after acquiring an additional 254 shares in the last quarter. Institutional investors own 81.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALK shares. UBS Group lowered their price target on Alaska Air Group from $87.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Susquehanna upgraded Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 target price for the company in a research report on Tuesday, January 7th. Bank of America upped their target price on Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Morgan Stanley lifted their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group upped their price objective on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average price target of $77.00.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, CEO Joseph A. Sprague sold 9,500 shares of Alaska Air Group stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $68.90, for a total transaction of $654,550.00. Following the sale, the chief executive officer now directly owns 9,840 shares of the company’s stock, valued at approximately $677,976. The trade was a 49.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shane R. Tackett sold 22,893 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $75.74, for a total value of $1,733,915.82. Following the completion of the transaction, the chief financial officer now directly owns 31,873 shares of the company’s stock, valued at $2,414,061.02. This represents a 41.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,725 shares of company stock worth $11,217,263 over the last quarter. Corporate insiders own 0.68% of the company’s stock.

Alaska Air Group Stock Performance

Shares of NYSE:ALK opened at $52.58 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $66.39 and a 200-day moving average price of $57.35. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 0.43 and a beta of 1.50. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. As a group, equities analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.