Truist Financial Corp Sells 90,820 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Truist Financial Corp cut its holdings in American Airlines Group Inc. (NASDAQ:AAL) by 84.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,265 shares of the airline’s stock after selling 90,820 shares during the period. Truist Financial Corp’s holdings in American Airlines Group were worth $196,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of American Airlines Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 76,177,845 shares of the airline’s stock worth $1,169,330,000 after buying an additional 806,770 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of American Airlines Group by 34.4% in the 2nd quarter. Primecap Management Co. CA now owns 56,881,356 shares of the airline’s stock worth $644,466,000 after buying an additional 14,549,310 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in American Airlines Group by 75.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,240,659 shares of the airline’s stock valued at $48,047,000 after purchasing an additional 1,823,928 shares during the last quarter. Sei Investments Co. grew its holdings in American Airlines Group by 14.7% during the 2nd quarter. Sei Investments Co. now owns 1,199,121 shares of the airline’s stock valued at $13,586,000 after purchasing an additional 153,515 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in American Airlines Group by 1.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 876,505 shares of the airline’s stock valued at $13,455,000 after purchasing an additional 9,857 shares during the last quarter. 52.44% of the stock is currently owned by institutional investors.

American Airlines Group Stock Performance

Shares of AAL opened at $13.09 on Friday. The company has a 50 day moving average price of $10.97 and a 200-day moving average price of $11.80. American Airlines Group Inc. has a fifty-two week low of $9.07 and a fifty-two week high of $16.15. The stock has a market capitalization of $8.59 billion, a PE ratio of 21.82, a PEG ratio of 0.26 and a beta of 1.43.

American Airlines Group (NASDAQ:AAL) last announced its quarterly earnings results on Thursday, July 25th. The airline reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.05. The firm had revenue of $14.33 billion during the quarter, compared to analysts’ expectations of $14.38 billion. American Airlines Group had a negative net margin of 0.23% and a negative return on equity of 19.49%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.92 EPS. Equities research analysts forecast that American Airlines Group Inc. will post 1.22 EPS for the current year.

Analysts Set New Price Targets

AAL has been the topic of several analyst reports. TD Cowen upped their price target on shares of American Airlines Group from $7.00 to $9.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Evercore ISI upped their price target on shares of American Airlines Group from $10.00 to $12.00 and gave the company an “in-line” rating in a report on Thursday, October 3rd. TD Securities cut their price target on shares of American Airlines Group from $10.00 to $7.00 in a report on Friday, July 26th. Sanford C. Bernstein downgraded shares of American Airlines Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $18.00 to $12.00 in a report on Monday, July 22nd. Finally, Evercore lowered their price objective on shares of American Airlines Group from $13.00 to $10.00 in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.09.

About American Airlines Group

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.