Prudential Financial Inc. Has $14.41 Million Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Prudential Financial Inc. reduced its holdings in shares of Alaska Air Group, Inc. (NYSE:ALK) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,575 shares of the transportation company’s stock after selling 34,814 shares during the quarter. Prudential Financial Inc. owned 0.18% of Alaska Air Group worth $14,412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALK. Avior Wealth Management LLC boosted its stake in 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 purchasing an additional 182 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Alaska Air Group during the fourth quarter valued at approximately $52,000. EverSource Wealth Advisors LLC grew its holdings in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company’s stock worth $62,000 after buying an additional 364 shares in the last quarter. Pacific Center for Financial Services purchased a new stake in Alaska Air Group in the 3rd quarter valued at $45,000. Finally, True Wealth Design LLC bought a new position in Alaska Air Group during the 3rd quarter valued at $52,000. 81.90% of the stock is owned by institutional investors.

Alaska Air Group Trading Down 2.3 %

Shares of Alaska Air Group stock opened at $52.58 on Friday. The stock has a market capitalization of $6.45 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.43 and a beta of 1.50. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The stock’s 50-day simple moving average is $66.39 and its 200 day simple moving average is $57.35.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share (EPS) 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%. As a group, research analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Andrea L. Schneider sold 1,830 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $73.32, for a total value of $134,175.60. Following the sale, the senior vice president now directly owns 20,286 shares of the company’s stock, valued at approximately $1,487,369.52. This represents a 8.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew R. Harrison sold 6,600 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $76.28, for a total transaction of $503,448.00. Following the transaction, the executive vice president now directly owns 34,030 shares of the company’s stock, valued at approximately $2,595,808.40. This represents a 16.24 % 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 90 days. Corporate insiders own 0.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ALK. Bank of America increased their target price on shares of Alaska Air Group from $70.00 to $80.00 and gave the company a “buy” rating in a report on Friday, January 17th. Morgan Stanley increased their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. UBS Group cut their target price on Alaska Air Group from $87.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their price target on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research report on Monday, March 3rd. Finally, Susquehanna raised Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

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.