Franklin Resources Inc. Purchases 6,494 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Franklin Resources Inc. lifted its position in Alaska Air Group, Inc. (NYSE:ALK) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 640,008 shares of the transportation company’s stock after buying an additional 6,494 shares during the period. Franklin Resources Inc. owned about 0.50% of Alaska Air Group worth $41,440,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Alaska Air Group by 32.4% during the third quarter. FMR LLC now owns 1,084,639 shares of the transportation company’s stock valued at $49,037,000 after buying an additional 265,343 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Alaska Air Group by 5.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,979 shares of the transportation company’s stock valued at $7,504,000 after acquiring an additional 8,743 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Alaska Air Group during the 3rd quarter valued at about $395,000. Edgestream Partners L.P. bought a new stake in shares of Alaska Air Group in the third quarter worth approximately $487,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of Alaska Air Group during the third quarter valued at approximately $230,000. Institutional investors own 81.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALK. The Goldman Sachs Group raised their target price on shares of Alaska Air Group from $70.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Alaska Air Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a report on Monday, March 3rd. Morgan Stanley increased their target price on Alaska Air Group from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Susquehanna upgraded Alaska Air Group from a “neutral” rating to a “positive” rating and set a $95.00 price target for the company in a research note on Tuesday, January 7th. Finally, Citigroup reduced their price target on shares of Alaska Air Group from $83.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.23.

Alaska Air Group Price Performance

Shares of NYSE:ALK opened at $44.39 on Friday. The company has a market capitalization of $5.45 billion, a P/E ratio of 14.55, a P/E/G ratio of 0.43 and a beta of 1.37. Alaska Air Group, Inc. has a 1-year low of $32.62 and a 1-year high of $78.08. The firm’s 50 day simple moving average is $64.04 and its two-hundred day simple moving average is $57.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.61 and a quick ratio of 0.58.

Alaska Air Group (NYSE:ALK) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.97 earnings per share for the quarter, beating 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%. Research analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insider Activity

In related news, CEO Joseph A. Sprague sold 9,500 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $68.90, for a total transaction of $654,550.00. Following the completion of the transaction, the chief executive officer now owns 9,840 shares in the company, valued at approximately $677,976. This represents a 49.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew R. Harrison sold 91,745 shares of Alaska Air Group stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $71.14, for a total transaction of $6,526,739.30. Following the completion of the sale, the executive vice president now owns 20,638 shares in the company, valued at approximately $1,468,187.32. This represents a 81.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 154,725 shares of company stock worth $11,217,263 over the last ninety days. Corporate insiders own 0.92% of the company’s stock.

About Alaska Air Group

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.