Principal Financial Group Inc. Lowers Stock Position in Alaska Air Group, Inc. (NYSE:ALK)

Principal Financial Group Inc. reduced its position in Alaska Air Group, Inc. (NYSE:ALK) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 606,889 shares of the transportation company’s stock after selling 30,838 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Alaska Air Group worth $27,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its holdings in shares of Alaska Air Group by 3.7% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 8,770 shares of the transportation company’s stock worth $397,000 after purchasing an additional 309 shares during the period. QRG Capital Management Inc. increased its position in Alaska Air Group by 2.7% during the 3rd quarter. QRG Capital Management Inc. now owns 9,271 shares of the transportation company’s stock worth $419,000 after purchasing an additional 242 shares in the last quarter. swisspartners Advisors Ltd raised its holdings in Alaska Air Group by 5.4% in the third quarter. swisspartners Advisors Ltd now owns 140,529 shares of the transportation company’s stock valued at $6,353,000 after buying an additional 7,210 shares during the period. Farther Finance Advisors LLC lifted its position in Alaska Air Group by 15.9% during the third quarter. Farther Finance Advisors LLC now owns 4,460 shares of the transportation company’s stock valued at $202,000 after buying an additional 611 shares in the last quarter. Finally, Financial Advocates Investment Management increased its position in shares of Alaska Air Group by 9.3% in the third quarter. Financial Advocates Investment Management now owns 9,735 shares of the transportation company’s stock worth $440,000 after acquiring an additional 831 shares in the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.

Alaska Air Group Stock Performance

Shares of ALK stock opened at $51.45 on Wednesday. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.15 and a beta of 1.59. Alaska Air Group, Inc. has a one year low of $32.00 and a one year high of $52.19. The company’s 50-day simple moving average is $44.24 and its 200-day simple moving average is $41.12. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60.

Alaska Air Group (NYSE:ALK) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.22 by $0.03. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3 billion. Alaska Air Group had a return on equity of 12.81% and a net margin of 2.99%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. Equities analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Citigroup decreased their target price on Alaska Air Group from $51.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Susquehanna boosted their price target on Alaska Air Group from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Barclays assumed coverage on Alaska Air Group in a report on Monday, October 21st. They issued an “overweight” rating and a $55.00 price target for the company. Finally, Melius upgraded shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Alaska Air Group currently has an average rating of “Moderate Buy” and a consensus price target of $54.17.

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.