Corebridge Financial Inc. Has $4.77 Million Stock Holdings in Southwest Airlines Co. (NYSE:LUV)

Corebridge Financial Inc. trimmed its position in Southwest Airlines Co. (NYSE:LUV) by 4.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 141,992 shares of the airline’s stock after selling 6,760 shares during the period. Corebridge Financial Inc.’s holdings in Southwest Airlines were worth $4,774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of Southwest Airlines in the 4th quarter valued at about $26,000. Raleigh Capital Management Inc. lifted its holdings in Southwest Airlines by 186.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 883 shares of the airline’s stock valued at $30,000 after buying an additional 575 shares during the period. TD Private Client Wealth LLC lifted its holdings in Southwest Airlines by 41.1% in the third quarter. TD Private Client Wealth LLC now owns 1,184 shares of the airline’s stock valued at $35,000 after buying an additional 345 shares during the period. VSM Wealth Advisory LLC bought a new position in Southwest Airlines in the fourth quarter valued at approximately $42,000. Finally, Millstone Evans Group LLC acquired a new stake in Southwest Airlines during the 4th quarter worth $53,000. 80.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LUV. Susquehanna cut their price target on Southwest Airlines from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. UBS Group raised Southwest Airlines from a “sell” rating to a “neutral” rating and increased their target price for the company from $29.00 to $36.00 in a research note on Thursday, March 20th. Barclays boosted their target price on Southwest Airlines from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Argus upgraded shares of Southwest Airlines from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Southwest Airlines from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 18th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.54.

Insider Activity at Southwest Airlines

In related news, Director C. David Cush acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $30.03 per share, for a total transaction of $150,150.00. Following the purchase, the director now directly owns 19,011 shares in the company, valued at approximately $570,900.33. This trade represents a 35.69 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

Southwest Airlines Trading Down 1.0 %

NYSE LUV opened at $33.58 on Friday. The stock has a market capitalization of $19.90 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 0.97 and a beta of 1.10. Southwest Airlines Co. has a 52 week low of $23.58 and a 52 week high of $36.12. The stock’s 50 day moving average price is $31.33 and its two-hundred day moving average price is $31.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.92.

Southwest Airlines (NYSE:LUV) last announced its earnings results on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Southwest Airlines had a net margin of 1.69% and a return on equity of 5.77%. As a group, analysts anticipate that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.72 annualized dividend and a yield of 2.14%. Southwest Airlines’s payout ratio is presently 100.00%.

Southwest Airlines Profile

Southwest Airlines Co operates as a passenger airline company that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2023, the company operated a total fleet of 817 Boeing 737 aircraft; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as ten near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.