Sei Investments Co. Sells 192,366 Shares of Delta Air Lines, Inc. $DAL

Key Points

• Sei Investments Co. has reduced its holdings in Delta Air Lines by 21.3%, owning 711,130 shares worth approximately $33 million after selling 192,366 shares.
• Multiple institutional investors have increased their positions in Delta, with hedge funds and other institutions owning 69.93% of the stock.
• Delta Air Lines has announced a quarterly dividend increase to $0.1875 per share, reflecting a commitment to shareholder returns with a yield of 1.3%.

Sei Investments Co. trimmed its position in Delta Air Lines, Inc. (NYSE:DAL - Free Report) by 21.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 711,130 shares of the transportation company's stock after selling 192,366 shares during the quarter. Sei Investments Co. owned 0.11% of Delta Air Lines worth $33,307,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in Delta Air Lines by 5.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 161,395 shares of the transportation company's stock valued at $7,037,000 after purchasing an additional 9,034 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Delta Air Lines by 2.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,690,361 shares of the transportation company's stock valued at $160,900,000 after purchasing an additional 92,772 shares during the period. Exchange Traded Concepts LLC boosted its position in Delta Air Lines by 152.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,567 shares of the transportation company's stock valued at $548,000 after purchasing an additional 7,586 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Delta Air Lines by 8.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,374 shares of the transportation company's stock valued at $1,670,000 after purchasing an additional 2,973 shares during the period. Finally, Jefferies Financial Group Inc. boosted its position in Delta Air Lines by 1,169.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 7,248 shares of the transportation company's stock valued at $316,000 after purchasing an additional 6,677 shares during the period. 69.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Peter W. Carter sold 17,550 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $57.19, for a total transaction of $1,003,684.50. Following the completion of the transaction, the executive vice president owned 191,442 shares of the company's stock, valued at approximately $10,948,567.98. The trade was a 8.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alain Bellemare sold 45,423 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $55.56, for a total value of $2,523,701.88. Following the transaction, the executive vice president directly owned 131,731 shares of the company's stock, valued at $7,318,974.36. This represents a 25.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,973 shares of company stock worth $7,511,746. Insiders own 0.96% of the company's stock.

Delta Air Lines Price Performance

Shares of DAL traded down $0.5070 during midday trading on Tuesday, reaching $60.5830. The stock had a trading volume of 2,436,210 shares, compared to its average volume of 10,740,200. Delta Air Lines, Inc. has a 52 week low of $34.74 and a 52 week high of $69.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.38 and a quick ratio of 0.33. The firm's 50 day moving average price is $52.84 and its 200-day moving average price is $50.99. The company has a market capitalization of $39.56 billion, a P/E ratio of 8.77, a P/E/G ratio of 1.88 and a beta of 1.56.

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

Delta Air Lines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.1875 per share. This is a boost from Delta Air Lines's previous quarterly dividend of $0.15. The ex-dividend date is Thursday, July 31st. This represents a $0.75 annualized dividend and a dividend yield of 1.2%. Delta Air Lines's dividend payout ratio is currently 10.87%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DAL. Raymond James Financial boosted their price objective on Delta Air Lines from $60.00 to $68.00 in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Delta Air Lines from $53.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Wolfe Research lifted their target price on Delta Air Lines from $56.00 to $63.00 in a research note on Monday, July 14th. Morgan Stanley lifted their target price on Delta Air Lines from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Susquehanna Bancshares lifted their target price on Delta Air Lines from $51.00 to $65.00 and gave the company a "positive" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Delta Air Lines has an average rating of "Buy" and a consensus target price of $66.21.

Delta Air Lines Profile

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.