PNC Financial Services Group Inc. Sells 2,614 Shares of United Airlines Holdings, Inc. (NASDAQ:UAL)

PNC Financial Services Group Inc. lessened its position in United Airlines Holdings, Inc. (NASDAQ:UAL) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,682 shares of the transportation company’s stock after selling 2,614 shares during the period. PNC Financial Services Group Inc.’s holdings in United Airlines were worth $2,207,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in UAL. Point72 Asset Management L.P. lifted its holdings in shares of United Airlines by 489.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,295,246 shares of the transportation company’s stock valued at $111,687,000 after purchasing an additional 1,905,664 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of United Airlines by 29.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,601,425 shares of the transportation company’s stock worth $272,559,000 after acquiring an additional 1,263,604 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in United Airlines by 177.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,324,398 shares of the transportation company’s stock worth $75,570,000 after purchasing an additional 847,348 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of United Airlines by 217.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 675,919 shares of the transportation company’s stock valued at $32,890,000 after purchasing an additional 462,957 shares in the last quarter. Finally, Senator Investment Group LP lifted its stake in United Airlines by 39.5% in the 2nd quarter. Senator Investment Group LP now owns 1,046,051 shares of the transportation company’s stock valued at $50,901,000 after acquiring an additional 296,051 shares in the last quarter. Institutional investors own 69.69% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kate Gebo sold 17,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.44, for a total value of $1,407,700.00. Following the completion of the sale, the executive vice president now owns 40,012 shares of the company’s stock, valued at approximately $3,218,565.28. This represents a 30.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Torbjorn J. Enqvist sold 14,500 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $72.00, for a total value of $1,044,000.00. Following the transaction, the executive vice president now owns 30,427 shares of the company’s stock, valued at $2,190,744. This trade represents a 32.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.63% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen raised their target price on shares of United Airlines from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Susquehanna raised their price target on United Airlines from $70.00 to $85.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Barclays raised their target price on shares of United Airlines from $75.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Sanford C. Bernstein upped their target price on shares of United Airlines from $68.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $119.00 price target on shares of United Airlines in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, United Airlines currently has an average rating of “Moderate Buy” and a consensus price target of $88.28.

United Airlines Stock Performance

NASDAQ UAL opened at $96.83 on Tuesday. The firm has a 50-day moving average price of $72.33 and a two-hundred day moving average price of $56.26. United Airlines Holdings, Inc. has a 12-month low of $37.02 and a 12-month high of $98.00. The company has a market capitalization of $31.85 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.13 and a beta of 1.39. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.95.

United Airlines (NASDAQ:UAL) last issued its quarterly earnings results on Tuesday, October 15th. The transportation company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. United Airlines had a return on equity of 30.72% and a net margin of 4.94%. The business had revenue of $14.84 billion during the quarter, compared to analysts’ expectations of $14.76 billion. During the same period in the previous year, the company posted $3.65 earnings per share. Analysts anticipate that United Airlines Holdings, Inc. will post 10.23 earnings per share for the current year.

United Airlines announced that its board has authorized a stock buyback program on Tuesday, October 15th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the transportation company to repurchase up to 7.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

United Airlines Company Profile

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.