Sei Investments Co. Buys 331,197 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Sei Investments Co. increased its stake in shares of Delta Air Lines, Inc. (NYSE:DAL) by 98.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 667,373 shares of the transportation company’s stock after buying an additional 331,197 shares during the quarter. Sei Investments Co.’s holdings in Delta Air Lines were worth $31,660,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. American International Group Inc. lifted its holdings in shares of Delta Air Lines by 1.6% during the fourth quarter. American International Group Inc. now owns 181,107 shares of the transportation company’s stock valued at $7,286,000 after acquiring an additional 2,783 shares during the period. First Hawaiian Bank acquired a new position in Delta Air Lines in the first quarter valued at about $749,000. Wells Fargo & Company MN boosted its position in Delta Air Lines by 7.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,127,607 shares of the transportation company’s stock valued at $45,364,000 after buying an additional 73,936 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Delta Air Lines by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock worth $2,384,000 after buying an additional 1,362 shares during the last quarter. Finally, RFG Advisory LLC acquired a new stake in shares of Delta Air Lines during the first quarter worth approximately $1,108,000. Institutional investors own 69.93% of the company’s stock.

Delta Air Lines Trading Up 0.5 %

DAL opened at $47.16 on Tuesday. The firm has a 50 day simple moving average of $42.44 and a 200 day simple moving average of $46.35. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $53.86. The company has a market cap of $30.43 billion, a price-to-earnings ratio of 6.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35.

Delta Air Lines (NYSE:DAL) last issued its earnings results on Thursday, July 11th. The transportation company reported $2.36 EPS for the quarter, missing the consensus estimate of $2.37 by ($0.01). Delta Air Lines had a net margin of 7.46% and a return on equity of 36.02%. The business had revenue of $15.41 billion for the quarter, compared to the consensus estimate of $15.45 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Delta Air Lines, Inc. will post 5.99 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.63%.

Wall Street Analysts Forecast Growth

DAL has been the topic of several recent analyst reports. Citigroup boosted their target price on Delta Air Lines from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Sanford C. Bernstein decreased their target price on Delta Air Lines from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, July 12th. TD Cowen cut their price target on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Jefferies Financial Group reduced their price target on shares of Delta Air Lines from $58.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $61.52.

Insider Transactions at Delta Air Lines

In other news, Director Willie Cw Chiang purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were acquired at an average cost of $43.90 per share, for a total transaction of $439,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $878,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.96% of the company’s stock.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.