Franklin Resources Inc. Grows Stock Holdings in Alaska Air Group, Inc. (NYSE:ALK)

Franklin Resources Inc. grew its holdings in Alaska Air Group, Inc. (NYSE:ALK) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 640,008 shares of the transportation company’s stock after buying an additional 6,494 shares during the period. Franklin Resources Inc.’s holdings in Alaska Air Group were worth $41,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its holdings in shares of Alaska Air Group by 8.5% in the 4th quarter. Meeder Asset Management Inc. now owns 43,526 shares of the transportation company’s stock valued at $2,818,000 after acquiring an additional 3,408 shares during the last quarter. Wellington Management Group LLP raised its position in Alaska Air Group by 3.3% during the fourth quarter. Wellington Management Group LLP now owns 602,941 shares of the transportation company’s stock valued at $39,040,000 after purchasing an additional 19,225 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Alaska Air Group by 33.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,013 shares of the transportation company’s stock valued at $584,000 after purchasing an additional 2,278 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Alaska Air Group in the 4th quarter worth approximately $1,420,000. Finally, Norges Bank bought a new position in shares of Alaska Air Group during the 4th quarter valued at approximately $19,847,000. 81.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alaska Air Group

In other news, EVP Andrew R. Harrison sold 6,600 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $76.28, for a total transaction of $503,448.00. Following the transaction, the executive vice president now directly owns 34,030 shares in the company, valued at approximately $2,595,808.40. This trade represents a 16.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shane R. Tackett sold 22,893 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $75.74, for a total transaction of $1,733,915.82. Following the completion of the transaction, the chief financial officer now directly owns 31,873 shares of the company’s stock, valued at $2,414,061.02. This trade represents a 41.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,725 shares of company stock valued at $11,217,263. Company insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Bank of America dropped their price target on shares of Alaska Air Group from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday. Susquehanna raised shares of Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price objective on the stock in a research report on Tuesday, January 7th. Citigroup decreased their price objective on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, TD Cowen upped their target price on Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.23.

Alaska Air Group Stock Down 3.4 %

Shares of NYSE:ALK opened at $44.39 on Friday. The business’s 50 day moving average is $64.04 and its 200 day moving average is $57.69. The stock has a market cap of $5.45 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 0.43 and a beta of 1.37. Alaska Air Group, Inc. has a 52-week low of $32.62 and a 52-week high of $78.08. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

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

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.