PNC Financial Services Group Inc. Has $832,000 Stake in Alaska Air Group, Inc. (NYSE:ALK)

PNC Financial Services Group Inc. raised its position in shares of Alaska Air Group, Inc. (NYSE:ALK) by 9.3% in the fourth quarter, Holdings Channel reports. The fund owned 12,850 shares of the transportation company’s stock after buying an additional 1,098 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alaska Air Group were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC boosted its stake in Alaska Air Group by 32.4% during the 3rd quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock valued at $49,037,000 after purchasing an additional 265,343 shares during the period. Bank of Montreal Can boosted its position in shares of Alaska Air Group by 54.7% in the third quarter. Bank of Montreal Can now owns 57,577 shares of the transportation company’s stock valued at $2,591,000 after acquiring an additional 20,347 shares during the period. Friedenthal Financial acquired a new stake in shares of Alaska Air Group in the fourth quarter worth $772,000. Quantbot Technologies LP increased its position in Alaska Air Group by 156.3% during the third quarter. Quantbot Technologies LP now owns 83,777 shares of the transportation company’s stock worth $3,788,000 after acquiring an additional 51,096 shares during the period. Finally, Franklin Resources Inc. raised its stake in Alaska Air Group by 4.1% during 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 last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.

Alaska Air Group Price Performance

NYSE:ALK opened at $55.12 on Tuesday. The firm has a market cap of $6.78 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 0.43 and a beta of 1.50. The company’s 50-day moving average price is $68.54 and its two-hundred day moving average price is $56.71. 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 12 month low of $32.62 and a 12 month high of $78.08.

Alaska Air Group (NYSE:ALK) last released its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.52. Alaska Air Group had a return on equity of 14.66% and a net margin of 3.37%. On average, equities analysts anticipate that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Activity

In related news, SVP Andrea L. Schneider sold 800 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 20,286 shares of the company’s stock, valued at $1,296,072.54. This trade represents a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the executive vice president now directly owns 20,638 shares in the company, valued at approximately $1,468,187.32. This represents a 81.64 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,179 shares of company stock worth $11,503,659. 0.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on ALK shares. UBS Group boosted their price objective on shares of Alaska Air Group from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Citigroup boosted their price target on Alaska Air Group from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, December 16th. The Goldman Sachs Group raised their price objective on Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. TD Cowen boosted their price objective on Alaska Air Group from $85.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their target price on Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.00.

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.