Assenagon Asset Management S.A. Acquires 289,143 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Assenagon Asset Management S.A. grew its holdings in shares of Delta Air Lines, Inc. (NYSE:DAL) by 1,306.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 311,271 shares of the transportation company’s stock after purchasing an additional 289,143 shares during the period. Assenagon Asset Management S.A.’s holdings in Delta Air Lines were worth $15,809,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Senator Investment Group LP raised its holdings in Delta Air Lines by 90.0% during the second quarter. Senator Investment Group LP now owns 475,000 shares of the transportation company’s stock worth $22,534,000 after acquiring an additional 225,000 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Delta Air Lines by 2.8% during the 1st quarter. Maryland State Retirement & Pension System now owns 50,358 shares of the transportation company’s stock worth $2,384,000 after purchasing an additional 1,362 shares in the last quarter. Norden Group LLC grew its stake in shares of Delta Air Lines by 714.1% in the first quarter. Norden Group LLC now owns 112,048 shares of the transportation company’s stock valued at $5,364,000 after buying an additional 98,285 shares in the last quarter. Inspire Investing LLC acquired a new position in Delta Air Lines during the first quarter worth $907,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Delta Air Lines during the first quarter worth $1,309,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DAL has been the subject of a number of analyst reports. Sanford C. Bernstein lifted their price objective on shares of Delta Air Lines from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on Delta Air Lines from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Susquehanna upped their price objective on Delta Air Lines from $50.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 9th. BNP Paribas upgraded Delta Air Lines to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, TD Cowen decreased their target price on Delta Air Lines from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $65.40.

Delta Air Lines Stock Down 1.2 %

DAL stock opened at $54.12 on Friday. Delta Air Lines, Inc. has a fifty-two week low of $30.60 and a fifty-two week high of $56.48. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.40 and a quick ratio of 0.35. The stock has a market capitalization of $34.92 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.98 and a beta of 1.35. The business’s fifty day moving average price is $47.33 and its two-hundred day moving average price is $47.43.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings results on Thursday, October 10th. The transportation company reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.02). Delta Air Lines had a return on equity of 36.02% and a net margin of 7.46%. The business had revenue of $15.68 billion for the quarter, compared to the consensus estimate of $14.65 billion. During the same period in the prior year, the business posted $2.03 earnings per share. Delta Air Lines’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Delta Air Lines, Inc. will post 6.17 earnings per share for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, October 10th. Delta Air Lines’s dividend payout ratio (DPR) is currently 8.63%.

Insider Buying and Selling

In other Delta Air Lines news, EVP Alain Bellemare sold 19,490 shares of Delta Air Lines stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the completion of the transaction, the executive vice president now directly owns 121,961 shares of the company’s stock, valued at $6,739,564.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Alain Bellemare sold 19,490 shares of the firm’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $55.26, for a total value of $1,077,017.40. Following the transaction, the executive vice president now owns 121,961 shares in the company, valued at approximately $6,739,564.86. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joanne D. Smith sold 3,431 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.46, for a total transaction of $173,128.26. Following the sale, the executive vice president now directly owns 108,990 shares of the company’s stock, valued at $5,499,635.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.

Delta Air Lines Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.