Raymond James Financial Inc. Acquires New Position in Alaska Air Group, Inc. (NYSE:ALK)

Raymond James Financial Inc. acquired a new stake in Alaska Air Group, Inc. (NYSE:ALK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 374,377 shares of the transportation company’s stock, valued at approximately $24,241,000. Raymond James Financial Inc. owned about 0.29% of Alaska Air Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALK. Oregon Public Employees Retirement Fund grew its holdings in shares of Alaska Air Group by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company’s stock valued at $1,931,000 after purchasing an additional 160 shares during the last quarter. Avior Wealth Management LLC lifted 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 acquiring an additional 182 shares during the last quarter. Savant Capital LLC raised its stake in Alaska Air Group by 3.4% during the 4th quarter. Savant Capital LLC now owns 6,284 shares of the transportation company’s stock valued at $407,000 after purchasing an additional 206 shares during the period. Mutual of America Capital Management LLC raised its stake in Alaska Air Group by 1.3% during the 4th quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company’s stock valued at $1,245,000 after purchasing an additional 254 shares during the period. Finally, Plan Group Financial LLC raised its stake in Alaska Air Group by 3.3% during the 4th quarter. Plan Group Financial LLC now owns 8,136 shares of the transportation company’s stock valued at $527,000 after purchasing an additional 257 shares during the period. 81.90% of the stock is owned by institutional investors.

Insider Activity at Alaska Air Group

In related news, EVP Andrew R. Harrison sold 6,600 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $76.28, for a total value of $503,448.00. Following the completion of the transaction, the executive vice president now owns 34,030 shares of the company’s stock, valued at $2,595,808.40. This represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Andrea L. Schneider sold 800 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $63.89, for a total transaction of $51,112.00. Following the completion of the transaction, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at $1,296,072.54. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,618 shares of company stock worth $11,722,035. Company insiders own 0.68% of the company’s stock.

Alaska Air Group Trading Up 2.3 %

Shares of NYSE:ALK opened at $53.82 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 firm has a fifty day moving average price of $68.73 and a 200 day moving average price of $56.42. Alaska Air Group, Inc. has a 1 year low of $32.62 and a 1 year high of $78.08. The stock has a market capitalization of $6.62 billion, a PE ratio of 17.65, a P/E/G ratio of 0.43 and a beta of 1.50.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on ALK. Citigroup boosted their target price on shares of Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. The Goldman Sachs Group boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Monday, March 3rd. UBS Group boosted their target price on shares of Alaska Air Group from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Bank of America upped their price target on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.00.

Alaska Air Group 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.