Corebridge Financial Inc. Grows Holdings in Alaska Air Group, Inc. $ALK

Key Points

• Corebridge Financial Inc. significantly increased its stake in Alaska Air Group by 2,442.4%, acquiring 135,942 shares worth approximately $6.69 million in the first quarter.
• Research reports from various analysts have raised Alaska Air Group's stock ratings, with a consensus target price of $68.00 and twelve analysts rating it as a Buy.
• Alaska Air Group recently reported $1.78 earnings per share, exceeding expectations, along with a 27.9% year-over-year revenue growth for the last quarter.

Corebridge Financial Inc. raised its holdings in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 2,442.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,942 shares of the transportation company's stock after purchasing an additional 130,595 shares during the period. Corebridge Financial Inc. owned 0.11% of Alaska Air Group worth $6,691,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in shares of Alaska Air Group in the fourth quarter worth about $38,000. Brooklyn Investment Group increased its stake in shares of Alaska Air Group by 41.1% in the first quarter. Brooklyn Investment Group now owns 632 shares of the transportation company's stock worth $31,000 after purchasing an additional 184 shares in the last quarter. Perkins Coie Trust Co increased its stake in shares of Alaska Air Group by 125.7% in the first quarter. Perkins Coie Trust Co now owns 677 shares of the transportation company's stock worth $33,000 after purchasing an additional 377 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Alaska Air Group by 459.1% in the first quarter. UMB Bank n.a. now owns 1,297 shares of the transportation company's stock worth $64,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Alaska Air Group in the first quarter worth about $71,000. Hedge funds and other institutional investors own 81.90% of the company's stock.

Alaska Air Group Price Performance

NYSE:ALK traded up $0.26 during mid-day trading on Thursday, hitting $62.76. 3,231,761 shares of the stock traded hands, compared to its average volume of 2,042,661. The business's 50-day moving average price is $54.77 and its 200 day moving average price is $53.21. The company has a market cap of $7.24 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 0.61 and a beta of 1.45. Alaska Air Group, Inc. has a 12-month low of $36.44 and a 12-month high of $78.08. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.14.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.56 by $0.22. The company had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.65 billion. Alaska Air Group had a net margin of 2.33% and a return on equity of 12.62%. Alaska Air Group's revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.55 earnings per share. Alaska Air Group has set its Q3 2025 guidance at 1.000-1.400 EPS. FY 2025 guidance at 3.250- EPS. On average, analysts expect that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 7,600 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $53.22, for a total value of $404,472.00. Following the completion of the transaction, the executive vice president owned 18,930 shares of the company's stock, valued at $1,007,454.60. The trade was a 28.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kyle B. Levine sold 5,914 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $57.75, for a total transaction of $341,533.50. Following the completion of the transaction, the senior vice president directly owned 20,917 shares of the company's stock, valued at approximately $1,207,956.75. This represents a 22.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,514 shares of company stock valued at $1,031,306 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of Alaska Air Group from $50.00 to $60.00 and gave the stock a "positive" rating in a research note on Tuesday, August 5th. Raymond James Financial upgraded shares of Alaska Air Group from a "market perform" rating to an "outperform" rating and set a $70.00 target price for the company in a research note on Monday, August 25th. Barclays boosted their price objective on shares of Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, UBS Group boosted their price objective on shares of Alaska Air Group from $49.00 to $56.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $68.00.

Alaska Air Group 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.