Assetmark Inc. Boosts Stock Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Key Points

• Assetmark Inc. increased its stake in Delta Air Lines by 694.3%, now owning 29,976 shares worth approximately $1.3 million after acquiring 26,202 additional shares in the 1st quarter.
• Delta Air Lines recently reported earnings of $2.10 per share, exceeding the consensus estimate by $0.09, although its revenue decreased by .1% year-over-year.
• The company declared a quarterly dividend increase to $0.1875 per share, marking a boost from the previous dividend of $0.15, which results in an annual yield of 1.4%.

Assetmark Inc. lifted its stake in shares of Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 694.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,976 shares of the transportation company's stock after buying an additional 26,202 shares during the period. Assetmark Inc.'s holdings in Delta Air Lines were worth $1,307,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DAL. Kayne Anderson Rudnick Investment Management LLC raised its position in Delta Air Lines by 414.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 535 shares of the transportation company's stock worth $32,000 after purchasing an additional 431 shares during the last quarter. Continuum Advisory LLC raised its position in Delta Air Lines by 44.2% during the 4th quarter. Continuum Advisory LLC now owns 584 shares of the transportation company's stock worth $35,000 after purchasing an additional 179 shares during the last quarter. Hara Capital LLC bought a new position in Delta Air Lines during the 1st quarter worth $35,000. Private Wealth Management Group LLC raised its position in Delta Air Lines by 104.8% during the 1st quarter. Private Wealth Management Group LLC now owns 991 shares of the transportation company's stock worth $43,000 after purchasing an additional 507 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in Delta Air Lines during the 1st quarter worth $47,000. 69.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Delta Air Lines

In other news, EVP Steven M. Sear sold 18,000 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $55.96, for a total transaction of $1,007,280.00. Following the completion of the transaction, the executive vice president directly owned 97,505 shares in the company, valued at $5,456,379.80. The trade was a 15.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter W. Carter sold 17,550 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the transaction, the executive vice president owned 191,442 shares of the company's stock, valued at $10,948,567.98. This trade represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,973 shares of company stock worth $7,511,746. 0.96% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DAL shares. Citigroup lifted their price objective on Delta Air Lines from $62.00 to $65.50 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wolfe Research raised their target price on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Wall Street Zen downgraded Delta Air Lines from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. BNP Paribas Exane raised their target price on Delta Air Lines from $58.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Finally, Bernstein Bank raised their target price on Delta Air Lines from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.21.

Delta Air Lines Stock Performance

Shares of NYSE:DAL traded down $0.03 during mid-day trading on Tuesday, reaching $52.49. The company had a trading volume of 3,232,205 shares, compared to its average volume of 10,958,779. The company has a current ratio of 0.38, a quick ratio of 0.33 and a debt-to-equity ratio of 0.74. The firm has a market cap of $34.28 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 1.60 and a beta of 1.56. The company's 50-day moving average price is $51.38 and its 200-day moving average price is $51.76. Delta Air Lines, Inc. has a one year low of $34.74 and a one year high of $69.98.

Delta Air Lines (NYSE:DAL - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The transportation company reported $2.10 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.09. Delta Air Lines had a net margin of 7.24% and a return on equity of 24.86%. The company had revenue of $15,507,000 billion for the quarter, compared to analysts' expectations of $16.16 billion. During the same quarter in the previous year, the firm posted $2.36 EPS. Delta Air Lines's revenue was down .1% on a year-over-year basis. As a group, equities research analysts anticipate that Delta Air Lines, Inc. will post 7.63 EPS for the current fiscal year.

Delta Air Lines Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, July 31st. This is a positive change from Delta Air Lines's previous quarterly dividend of $0.15. Delta Air Lines's payout ratio is presently 10.87%.

About Delta Air Lines

Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its domestic network centered on core hubs in Atlanta, Minneapolis-St. Paul, Detroit, and Salt Lake City, as well as coastal hub positions in Boston, Los Angeles, New York-LaGuardia, New York-JFK, and Seattle; and international network centered on hubs and market presence in Amsterdam, Bogota, Lima, Mexico City, London-Heathrow, Paris-Charles de Gaulle, Sao Paulo, Seoul-Incheon, and Tokyo.