Raymond James Financial Inc. Makes New $24.24 Million Investment in Alaska Air Group, Inc. (NYSE:ALK)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Friedenthal Financial bought a new stake in shares of Alaska Air Group during the fourth quarter worth approximately $772,000. Franklin Resources Inc. raised its holdings in shares of Alaska Air Group by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 633,514 shares of the transportation company's stock valued at $28,312,000 after purchasing an additional 24,796 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Alaska Air Group in the fourth quarter valued at about $52,000. Jones Financial Companies Lllp lifted its holdings in Alaska Air Group by 77.8% during the 4th quarter. Jones Financial Companies Lllp now owns 5,221 shares of the transportation company's stock worth $338,000 after purchasing an additional 2,284 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Alaska Air Group by 20.6% during the fourth quarter. HighTower Advisors LLC now owns 12,773 shares of the transportation company's stock worth $827,000 after purchasing an additional 2,186 shares during the period. Institutional investors and hedge funds own 81.90% of the company's stock.

Insider Activity at Alaska Air Group

In other Alaska Air Group news, EVP Andrew R. Harrison sold 91,745 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $71.14, for a total value of $6,526,739.30. Following the completion of the sale, the executive vice president now directly owns 20,638 shares in the company, valued at $1,468,187.32. This represents a 81.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph A. Sprague sold 9,500 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $68.90, for a total transaction of $654,550.00. Following the sale, the chief executive officer now owns 9,840 shares of the company's stock, valued at $677,976. This represents a 49.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 154,725 shares of company stock valued at $11,217,263 in the last three months. 1.00% of the stock is owned by insiders.

Alaska Air Group Stock Up 1.0 %

ALK opened at $45.08 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. Alaska Air Group, Inc. has a 52 week low of $32.62 and a 52 week high of $78.08. The firm has a 50-day simple moving average of $57.21 and a two-hundred day simple moving average of $57.82. The company has a market capitalization of $5.53 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALK. Susquehanna decreased their price target on shares of Alaska Air Group from $95.00 to $55.00 and set a "positive" rating on the stock in a report on Monday, April 7th. Citigroup lowered their target price on shares of Alaska Air Group from $83.00 to $81.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Bank of America reduced their price objective on shares of Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. TD Cowen increased their target price on Alaska Air Group from $85.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on Alaska Air Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Alaska Air Group currently has an average rating of "Moderate Buy" and a consensus price target of $70.15.

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.

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