Congress Wealth Management LLC DE Has $6.57 Million Stock Position in Delta Air Lines, Inc. (NYSE:DAL)

Congress Wealth Management LLC DE lessened its stake in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 51.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,551 shares of the transportation company's stock after selling 112,908 shares during the period. Congress Wealth Management LLC DE's holdings in Delta Air Lines were worth $6,567,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DAL. New Wave Wealth Advisors LLC acquired a new position in shares of Delta Air Lines during the fourth quarter valued at approximately $27,000. Hemington Wealth Management boosted its stake in Delta Air Lines by 48.1% during the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company's stock valued at $28,000 after purchasing an additional 154 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Delta Air Lines during the 4th quarter valued at $29,000. Crews Bank & Trust bought a new stake in shares of Delta Air Lines in the 4th quarter worth $30,000. Finally, Modus Advisors LLC acquired a new stake in shares of Delta Air Lines in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 69.93% of the company's stock.

Insider Buying and Selling

In other Delta Air Lines news, CEO Edward H. Bastian sold 91,710 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $69.85, for a total value of $6,405,943.50. Following the completion of the sale, the chief executive officer now directly owns 439,819 shares of the company's stock, valued at $30,721,357.15. The trade was a 17.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP William C. Carroll sold 6,783 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total transaction of $447,271.02. Following the transaction, the senior vice president now owns 10,016 shares in the company, valued at $660,455.04. This represents a 40.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,886 shares of company stock worth $11,116,463. Corporate insiders own 0.96% of the company's stock.

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Delta Air Lines Stock Down 5.1 %

NYSE DAL traded down $2.36 during trading on Friday, reaching $43.80. 15,126,638 shares of the company's stock were exchanged, compared to its average volume of 9,046,107. The company has a current ratio of 0.37, a quick ratio of 0.32 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a fifty-two week low of $37.29 and a fifty-two week high of $69.98. The company's fifty day simple moving average is $58.94 and its 200-day simple moving average is $58.39. The firm has a market capitalization of $28.31 billion, a PE ratio of 8.22, a P/E/G ratio of 0.75 and a beta of 1.34.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.76 by $0.09. The business had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.20 billion. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $1.28 earnings per share. Sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 EPS for the current year.

Delta Air Lines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, February 27th. Delta Air Lines's dividend payout ratio (DPR) is presently 11.26%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DAL. Citigroup lowered their target price on Delta Air Lines from $80.00 to $72.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. TD Cowen boosted their target price on shares of Delta Air Lines from $78.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Barclays reduced their target price on shares of Delta Air Lines from $90.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. StockNews.com downgraded Delta Air Lines from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Finally, Susquehanna lifted their target price on Delta Air Lines from $59.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Delta Air Lines has a consensus rating of "Buy" and an average price target of $76.29.

Delta Air Lines Profile

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.