Corebridge Financial Inc. Buys 31,457 Shares of United Airlines Holdings Inc $UAL

Key Points

• Corebridge Financial Inc. increased its stake in United Airlines by 37.7%, highlighting growing institutional interest in the company.
• Recent analyst ratings show a consensus Buy rating for United Airlines, with price targets increasing up to $109.00 from several brokerages.
• Insider trading has seen significant sales, with over 106,791 shares sold in the last quarter, indicating potential concerns among company executives.

Corebridge Financial Inc. boosted its position in shares of United Airlines Holdings Inc (NASDAQ:UAL - Free Report) by 37.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,796 shares of the transportation company's stock after purchasing an additional 31,457 shares during the period. Corebridge Financial Inc.'s holdings in United Airlines were worth $7,927,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of United Airlines by 10,777.6% in the first quarter. Pacer Advisors Inc. now owns 5,068,103 shares of the transportation company's stock worth $349,953,000 after purchasing an additional 5,021,511 shares during the period. Fred Alger Management LLC acquired a new position in United Airlines during the 4th quarter worth $155,860,000. Assenagon Asset Management S.A. lifted its holdings in United Airlines by 1,264.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,604,783 shares of the transportation company's stock worth $110,810,000 after buying an additional 1,487,167 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of United Airlines by 1,575.1% during the 1st quarter. Allianz Asset Management GmbH now owns 1,277,374 shares of the transportation company's stock valued at $88,203,000 after acquiring an additional 1,201,118 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of United Airlines by 783.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,152,520 shares of the transportation company's stock valued at $79,582,000 after buying an additional 1,022,012 shares in the last quarter. 69.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on UAL. UBS Group raised their price target on United Airlines from $103.00 to $114.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Evercore ISI reaffirmed an "outperform" rating and set a $105.00 target price on shares of United Airlines in a research note on Thursday, July 17th. Bank of America boosted their target price on shares of United Airlines from $90.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Sanford C. Bernstein reiterated an "outperform" rating on shares of United Airlines in a report on Tuesday, May 13th. Finally, Barclays reaffirmed an "overweight" rating and issued a $100.00 price target (up from $94.00) on shares of United Airlines in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $111.43.

United Airlines Price Performance

NASDAQ UAL traded down $0.08 on Friday, hitting $105.00. The stock had a trading volume of 2,865,826 shares, compared to its average volume of 4,587,003. United Airlines Holdings Inc has a 52-week low of $41.63 and a 52-week high of $116.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.65 and a current ratio of 0.70. The company has a market capitalization of $33.99 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.36 and a beta of 1.47. The firm has a 50-day moving average of $90.36 and a 200-day moving average of $81.81.

United Airlines (NASDAQ:UAL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The transportation company reported $3.87 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.24 billion during the quarter, compared to the consensus estimate of $15.31 billion. During the same period in the previous year, the firm posted $4.14 EPS. The firm's revenue was up 1.4% compared to the same quarter last year. United Airlines has set its FY 2025 guidance at 9.000-11.000 EPS. Equities analysts expect that United Airlines Holdings Inc will post 12.96 EPS for the current year.

Insiders Place Their Bets

In other news, President Brett J. Hart sold 24,772 shares of the company'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 represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Torbjorn J. Enqvist sold 20,000 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $92.22, for a total transaction of $1,844,400.00. Following the transaction, the executive vice president directly owned 62,358 shares of the company's stock, valued at approximately $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. Insiders sold a total of 106,791 shares of company stock valued at $9,992,318 over the last three months. 0.63% of the stock is currently owned by company insiders.

About United Airlines

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.