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

Corebridge Financial Inc. lowered its holdings in shares of Southwest Airlines Co. (NYSE:LUV) by 4.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,992 shares of the airline’s stock after selling 6,760 shares during the quarter. Corebridge Financial Inc.’s holdings in Southwest Airlines were worth $4,774,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insiders Place Their Bets

In other Southwest Airlines news, Director C. David Cush purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $30.03 per share, with a total value of $150,150.00. Following the completion of the acquisition, the director now directly owns 19,011 shares of the company’s stock, valued at $570,900.33. This represents a 35.69 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LUV shares. Susquehanna lowered their target price on shares of Southwest Airlines from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Raymond James lifted their price objective on Southwest Airlines from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 30th. Citigroup increased their target price on Southwest Airlines from $27.00 to $30.00 and gave the company a “sell” rating in a research note on Friday. Sanford C. Bernstein lifted their price target on Southwest Airlines from $30.00 to $33.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 11th. Finally, Bank of America reissued an “underperform” rating and issued a $31.00 price objective (down from $33.00) on shares of Southwest Airlines in a research report on Friday, January 17th. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.54.

Southwest Airlines Stock Down 1.0 %

Shares of NYSE LUV opened at $33.58 on Friday. Southwest Airlines Co. has a 52-week low of $23.58 and a 52-week high of $36.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 0.92. The business has a fifty day moving average of $31.33 and a two-hundred day moving average of $31.54. The stock has a market cap of $19.90 billion, a PE ratio of 46.63, a PEG ratio of 0.97 and a beta of 1.10.

Southwest Airlines (NYSE:LUV) last released its quarterly earnings results on Thursday, January 30th. The airline reported $0.56 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that Southwest Airlines Co. will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.72 annualized dividend and a yield of 2.14%. Southwest Airlines’s payout ratio is 100.00%.

Southwest Airlines Company 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.