Principal Financial Group Inc. Has $27.44 Million Position in Alaska Air Group, Inc. (NYSE:ALK)

Principal Financial Group Inc. decreased its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 4.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 606,889 shares of the transportation company's stock after selling 30,838 shares during the period. Principal Financial Group Inc. owned about 0.48% of Alaska Air Group worth $27,437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Alaska Air Group in the 2nd quarter valued at approximately $28,000. Pacific Center for Financial Services purchased a new position in shares of Alaska Air Group during the 3rd quarter valued at $45,000. Venturi Wealth Management LLC increased its stake in shares of Alaska Air Group by 86.0% in the third quarter. Venturi Wealth Management LLC now owns 1,025 shares of the transportation company's stock worth $46,000 after acquiring an additional 474 shares during the last quarter. Pacifica Partners Inc. raised its holdings in shares of Alaska Air Group by 952.4% during the third quarter. Pacifica Partners Inc. now owns 1,105 shares of the transportation company's stock worth $50,000 after acquiring an additional 1,000 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in Alaska Air Group during the third quarter valued at $52,000. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Alaska Air Group Stock Performance

NYSE:ALK traded up $0.13 during trading hours on Wednesday, hitting $67.60. 1,032,613 shares of the company traded hands, compared to its average volume of 2,321,490. The firm has a 50-day moving average of $53.92 and a 200 day moving average of $44.36. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 1.24 and a beta of 1.60. Alaska Air Group, Inc. has a twelve month low of $32.62 and a twelve month high of $67.73. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 0.93.

Alaska Air Group (NYSE:ALK - Get Free Report) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 earnings per share. On average, analysts forecast that Alaska Air Group, Inc. will post 4.3 EPS for the current year.

Insider Transactions at Alaska Air Group

In other Alaska Air Group news, CFO Shane R. Tackett sold 5,000 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $63.56, for a total value of $317,800.00. Following the transaction, the chief financial officer now directly owns 27,362 shares in the company, valued at $1,739,128.72. The trade was a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Muehlen Constance E. Von sold 4,000 shares of Alaska Air Group stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $63.09, for a total value of $252,360.00. Following the sale, the chief operating officer now directly owns 12,162 shares in the company, valued at $767,300.58. The trade was a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,473 shares of company stock valued at $2,198,342. Corporate insiders own 0.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALK shares. Melius Research upgraded Alaska Air Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. lifted their price objective on shares of Alaska Air Group from $58.00 to $85.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Morgan Stanley boosted their price target on Alaska Air Group from $70.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Bank of America increased their price objective on Alaska Air Group from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, September 13th. Finally, TD Cowen boosted their target price on Alaska Air Group from $68.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Alaska Air Group has an average rating of "Moderate Buy" and a consensus target price of $65.86.

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.