California Public Employees Retirement System Sells 12,649 Shares of Alaska Air Group, Inc. (NYSE:ALK)

California Public Employees Retirement System lessened its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,070 shares of the transportation company’s stock after selling 12,649 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Alaska Air Group worth $14,250,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new position in shares of Alaska Air Group in the 4th quarter valued at about $1,420,000. Norges Bank bought a new position in Alaska Air Group in the fourth quarter valued at approximately $19,847,000. WINTON GROUP Ltd grew its holdings in Alaska Air Group by 148.9% during the 4th quarter. WINTON GROUP Ltd now owns 128,939 shares of the transportation company’s stock worth $8,349,000 after acquiring an additional 77,134 shares during the period. Parametrica Management Ltd bought a new stake in shares of Alaska Air Group during the 4th quarter valued at $200,000. Finally, Vanguard Group Inc. lifted its stake in shares of Alaska Air Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,651,876 shares of the transportation company’s stock valued at $883,959,000 after purchasing an additional 56,409 shares during the period. Institutional investors own 81.90% of the company’s stock.

Insider Activity at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,600 shares of Alaska Air Group 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 trade represents a 16.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Andrea L. Schneider sold 1,830 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $73.32, for a total transaction of $134,175.60. Following the completion of the sale, the senior vice president now directly owns 20,286 shares in the company, valued at approximately $1,487,369.52. The trade was a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 154,725 shares of company stock valued at $11,217,263. 0.92% of the stock is owned by corporate insiders.

Alaska Air Group Stock Performance

Shares of ALK opened at $44.39 on Friday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 0.43 and a beta of 1.37. Alaska Air Group, Inc. has a 12 month low of $32.62 and a 12 month high of $78.08. The firm has a fifty day simple moving average of $64.04 and a 200 day simple moving average of $57.69. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.04.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a net margin of 3.37% and a return on equity of 14.66%. Research analysts forecast that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ALK shares. JPMorgan Chase & Co. upped their price objective on Alaska Air Group from $85.00 to $89.00 and gave the company an “overweight” rating in a report on Monday, March 3rd. Susquehanna upgraded shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target on the stock in a research report on Tuesday, January 7th. TD Cowen boosted their price objective on shares of Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 24th. The Goldman Sachs Group boosted their price target on shares of Alaska Air Group from $70.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, UBS Group dropped their price objective 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. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.23.

About Alaska Air Group

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.