AIA Group Ltd Acquires 4,873 Shares of United Airlines Holdings Inc (NASDAQ:UAL)

Key Points

• AIA Group Ltd increased its holdings in United Airlines by 147.8% during the first quarter, owning 8,170 shares valued at approximately $564,000.
• United Airlines reported a quarterly earnings per share of $3.87, surpassing the consensus estimate by $0.06, although revenue of $15.24 billion fell slightly short of analyst expectations.
• Several institutional investors significantly expanded their stakes in United Airlines, contributing to a total ownership of 69.69% by institutional investors and hedge funds.

AIA Group Ltd grew its position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 147.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,170 shares of the transportation company's stock after acquiring an additional 4,873 shares during the quarter. AIA Group Ltd's holdings in United Airlines were worth $564,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in United Airlines by 88.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 223,309 shares of the transportation company's stock valued at $21,683,000 after purchasing an additional 104,989 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of United Airlines during the 4th quarter valued at approximately $34,225,000. Townsquare Capital LLC acquired a new stake in shares of United Airlines during the fourth quarter worth approximately $439,000. Keystone Financial Group bought a new stake in shares of United Airlines in the fourth quarter worth $211,000. Finally, Mariner LLC raised its holdings in United Airlines by 9.0% in the fourth quarter. Mariner LLC now owns 47,504 shares of the transportation company's stock valued at $4,613,000 after acquiring an additional 3,923 shares in the last quarter. 69.69% of the stock is currently owned by hedge funds and other institutional investors.

United Airlines Trading Down 0.7%

NASDAQ UAL traded down $0.65 on Thursday, hitting $99.14. 3,875,107 shares of the company were exchanged, compared to its average volume of 6,679,244. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.70 and a quick ratio of 0.65. United Airlines Holdings Inc has a twelve month low of $40.96 and a twelve month high of $116.00. The firm has a market capitalization of $32.09 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.48. The company's 50 day moving average price is $84.96 and its 200-day moving average price is $82.33.

United Airlines (NASDAQ:UAL - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The transportation company reported $3.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.81 by $0.06. United Airlines had a net margin of 5.71% and a return on equity of 30.09%. The business had revenue of $15.24 billion for the quarter, compared to analyst estimates of $15.31 billion. During the same quarter in the previous year, the business earned $4.14 earnings per share. The firm's revenue was up 1.4% compared to the same quarter last year. Analysts predict that United Airlines Holdings Inc will post 12.96 earnings per share for the current fiscal year.

Insider Activity

In other news, President Brett J. Hart sold 24,772 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $89.50, for a total transaction of $2,217,094.00. Following the completion of the transaction, the president directly owned 283,638 shares of the company's stock, valued at approximately $25,385,601. This trade represents a 8.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Torbjorn J. Enqvist sold 20,000 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $92.22, for a total value of $1,844,400.00. Following the completion of the sale, the executive vice president owned 62,358 shares in the company, valued at $5,750,654.76. This trade represents a 24.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,791 shares of company stock valued at $9,992,318. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

UAL has been the topic of several research reports. Evercore ISI restated an "outperform" rating and set a $105.00 price objective on shares of United Airlines in a research note on Thursday, July 17th. Cantor Fitzgerald set a $88.00 price target on United Airlines in a research report on Tuesday, April 22nd. Bank of America raised their price objective on United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. UBS Group boosted their target price on shares of United Airlines from $103.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Finally, TD Cowen raised their price target on shares of United Airlines from $101.00 to $127.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $111.43.

United Airlines Profile

United Airlines Holdings, Inc, through its subsidiaries, provides air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. The company transports people and cargo through its mainline and regional fleets. It also offers catering, ground handling, flight academy, and maintenance services for third parties.