Principal Financial Group Inc. Sells 331,905 Shares of Alaska Air Group, Inc. (NYSE:ALK)

Principal Financial Group Inc. decreased its position in Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 52.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 295,780 shares of the transportation company's stock after selling 331,905 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Alaska Air Group worth $14,558,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Perkins Coie Trust Co boosted its position in Alaska Air Group by 125.7% during 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 during the period. Wood Tarver Financial Group LLC bought a new stake in Alaska Air Group during the fourth quarter worth approximately $38,000. EverSource Wealth Advisors LLC boosted its position in Alaska Air Group by 61.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 955 shares of the transportation company's stock worth $62,000 after purchasing an additional 364 shares during the period. UMB Bank n.a. boosted its position in Alaska Air Group by 459.1% during 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 during the period. Finally, Millstone Evans Group LLC bought a new position in Alaska Air Group in the 4th quarter worth approximately $76,000. Institutional investors own 81.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on ALK shares. Bank of America dropped their price target on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Citigroup reduced their price objective on 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. UBS Group began coverage on Alaska Air Group in a research report on Monday, July 7th. They issued a "neutral" rating and a $49.00 price objective for the company. Susquehanna reduced their price objective on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research report on Monday, April 7th. Finally, Barclays increased their price objective on Alaska Air Group from $55.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.83.

Insiders Place Their Bets

In other Alaska Air Group news, EVP Andrew R. Harrison sold 7,500 shares of Alaska Air Group stock in a transaction on Monday, May 19th. The stock was sold at an average price of $53.51, for a total transaction of $401,325.00. Following the completion of the transaction, the executive vice president directly owned 26,530 shares of the company's stock, valued at approximately $1,419,620.30. This trade represents a 22.04% 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 link. Also, VP Emily Halverson sold 2,946 shares of Alaska Air Group stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $51.34, for a total value of $151,247.64. Following the transaction, the vice president directly owned 8,253 shares of the company's stock, valued at approximately $423,709.02. The trade was a 26.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,479 shares of company stock valued at $554,228. Company insiders own 0.92% of the company's stock.

Alaska Air Group Stock Performance

ALK stock traded down $0.28 during midday trading on Monday, hitting $52.26. The stock had a trading volume of 131,494 shares, compared to its average volume of 2,908,502. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 0.56 and a beta of 1.41. Alaska Air Group, Inc. has a 52 week low of $32.62 and a 52 week high of $78.08. The stock has a 50-day simple moving average of $50.65 and a 200 day simple moving average of $56.72. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 1.05.

Alaska Air Group (NYSE:ALK - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.05). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.19 billion. Alaska Air Group had a return on equity of 15.01% and a net margin of 2.86%. The firm's revenue for the quarter was up 40.5% compared to the same quarter last year. During the same period last year, the business earned ($0.92) earnings per share. As a group, equities research analysts anticipate that Alaska Air Group, Inc. will post 6.03 earnings per share for the current year.

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.