Raymond James Financial Inc. Purchases Shares of 374,377 Alaska Air Group, Inc. (NYSE:ALK)

Raymond James Financial Inc. bought a new stake in Alaska Air Group, Inc. (NYSE:ALK - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 374,377 shares of the transportation company's stock, valued at approximately $24,241,000. Raymond James Financial Inc. owned 0.29% of Alaska Air Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Alaska Air Group by 3.9% in the third quarter. Geode Capital Management LLC now owns 2,061,596 shares of the transportation company's stock valued at $93,229,000 after purchasing an additional 78,186 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Alaska Air Group by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,593,756 shares of the transportation company's stock valued at $72,054,000 after buying an additional 6,977 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Alaska Air Group by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,432,052 shares of the transportation company's stock valued at $92,725,000 after buying an additional 9,805 shares during the period. Hennessy Advisors Inc. acquired a new position in Alaska Air Group during the 4th quarter worth approximately $82,459,000. Finally, FMR LLC boosted its holdings in Alaska Air Group by 32.4% in the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company's stock worth $49,037,000 after acquiring an additional 265,343 shares during the period. Institutional investors and hedge funds own 81.90% of the company's stock.

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Insider Activity at Alaska Air Group

In related news, SVP Andrea L. Schneider sold 800 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $63.89, for a total value of $51,112.00. Following the completion of the transaction, the senior vice president now owns 20,286 shares in the company, valued at $1,296,072.54. This represents a 3.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Andrew R. Harrison sold 6,600 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $76.28, for a total transaction of $503,448.00. Following the sale, the executive vice president now owns 34,030 shares in the company, valued at $2,595,808.40. This trade represents a 16.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 155,525 shares of company stock worth $11,268,375 in the last three months. 0.68% of the stock is owned by company insiders.

Alaska Air Group Stock Performance

Shares of NYSE:ALK traded up $1.62 during trading on Wednesday, hitting $53.96. 2,007,469 shares of the company traded hands, compared to its average volume of 2,936,896. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The business's fifty day moving average is $68.28 and its 200-day moving average is $56.82. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.43 and a beta of 1.50. Alaska Air Group, Inc. has a one year low of $32.62 and a one year high of $78.08.

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

Wall Street Analyst Weigh In

ALK has been the topic of a number of recent research reports. Bank of America boosted their target price on shares of Alaska Air Group from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Susquehanna upgraded 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 report on Tuesday, January 7th. JPMorgan Chase & Co. raised their target price on Alaska Air Group from $85.00 to $89.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd. The Goldman Sachs Group boosted their price target 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. Finally, Morgan Stanley raised their price objective on Alaska Air Group from $70.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.54.

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.