Corebridge Financial Inc. Acquires 9,577 Shares of Delta Air Lines, Inc. (NYSE:DAL)

Corebridge Financial Inc. boosted its holdings in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,115 shares of the transportation company's stock after buying an additional 9,577 shares during the period. Corebridge Financial Inc.'s holdings in Delta Air Lines were worth $13,377,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. New Wave Wealth Advisors LLC bought a new position in Delta Air Lines during the fourth quarter worth $27,000. Hemington Wealth Management boosted its holdings in Delta Air Lines by 48.1% in 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 during the period. Roxbury Financial LLC acquired a new stake in Delta Air Lines in the 4th quarter worth $29,000. Crews Bank & Trust bought a new position in shares of Delta Air Lines during the 4th quarter worth about $30,000. Finally, Modus Advisors LLC acquired a new position in shares of Delta Air Lines during the fourth quarter valued at about $33,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Delta Air Lines Price Performance

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

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

Delta Air Lines Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Edward H. Bastian sold 91,710 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $69.85, for a total transaction of $6,405,943.50. Following the completion of the sale, the chief executive officer now owns 439,819 shares in the company, 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 through this link. Also, SVP William C. Carroll sold 8,400 shares of the firm's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $66.02, for a total value of $554,568.00. Following the completion of the transaction, the senior vice president now owns 19,756 shares in the company, valued at approximately $1,304,291.12. This represents a 29.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,886 shares of company stock worth $11,116,463 in the last 90 days. Corporate insiders own 0.96% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DAL. UBS Group decreased their target price on Delta Air Lines from $90.00 to $77.00 and set a "buy" rating on the stock in a research report on Tuesday, March 11th. Barclays decreased their price objective on Delta Air Lines from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. StockNews.com downgraded shares of Delta Air Lines from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Susquehanna raised their price objective on shares of Delta Air Lines from $59.00 to $75.00 and gave the stock a "positive" rating in a report on Tuesday, January 7th. Finally, Citigroup decreased their target price on shares of Delta Air Lines from $80.00 to $72.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Delta Air Lines has a consensus rating of "Buy" and an average price target of $76.29.

Delta Air Lines Company 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.