California Public Employees Retirement System Has $14.25 Million Holdings in Alaska Air Group, Inc. (NYSE:ALK)

California Public Employees Retirement System lowered its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,070 shares of the transportation company's stock after selling 12,649 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Alaska Air Group worth $14,250,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC raised its holdings in shares of Alaska Air Group by 44.8% in the 4th quarter. Avior Wealth Management LLC now owns 588 shares of the transportation company's stock worth $38,000 after buying an additional 182 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Alaska Air Group during the 4th quarter worth approximately $52,000. EverSource Wealth Advisors LLC increased its holdings in Alaska Air Group by 61.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock valued at $62,000 after purchasing an additional 364 shares during the last quarter. Pacific Center for Financial Services acquired a new position in Alaska Air Group during the third quarter valued at approximately $45,000. Finally, Quarry LP grew its holdings in shares of Alaska Air Group by 259.3% in the 3rd quarter. Quarry LP now owns 1,175 shares of the transportation company's stock valued at $53,000 after buying an additional 848 shares during the period. Institutional investors own 81.90% of the company's stock.

Insider Activity

In related news, EVP Andrew R. Harrison sold 6,600 shares of Alaska Air Group stock in a transaction 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 completion of the transaction, the executive vice president now owns 34,030 shares of the company's stock, valued at $2,595,808.40. This trade represents a 16.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrea L. Schneider sold 1,830 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $73.32, for a total transaction of $134,175.60. Following the sale, the senior vice president now directly owns 20,286 shares in the company, valued at $1,487,369.52. This trade represents a 8.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,725 shares of company stock valued at $11,217,263. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

ALK has been the subject of several research reports. Susquehanna lowered their price objective on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research report on Monday. The Goldman Sachs Group lifted their target price on Alaska Air Group from $70.00 to $79.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Citigroup decreased their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. TD Cowen upped their price target on shares of Alaska Air Group from $85.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Finally, Morgan Stanley raised their price target on shares of Alaska Air Group from $70.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $70.15.

Alaska Air Group Price Performance

Shares of ALK traded up $9.50 during mid-day trading on Wednesday, reaching $50.51. The company had a trading volume of 7,748,816 shares, compared to its average volume of 2,589,873. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 0.43 and a beta of 1.37. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.61. The company's 50 day simple moving average is $61.34 and its 200 day simple moving average is $57.86. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08.

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

Alaska Air Group Company Profile

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.