Corebridge Financial Inc. Sells 33,033 Shares of American Airlines Group Inc. (NASDAQ:AAL)

Corebridge Financial Inc. reduced its position in shares of American Airlines Group Inc. (NASDAQ:AAL) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 744,085 shares of the airline’s stock after selling 33,033 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of American Airlines Group worth $12,969,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in shares of American Airlines Group during the fourth quarter worth approximately $25,000. Brooklyn Investment Group raised its position in shares of American Airlines Group by 133.1% during the 4th quarter. Brooklyn Investment Group now owns 1,592 shares of the airline’s stock valued at $28,000 after acquiring an additional 909 shares during the last quarter. Bfsg LLC lifted its stake in shares of American Airlines Group by 269.3% in the 4th quarter. Bfsg LLC now owns 2,057 shares of the airline’s stock valued at $36,000 after purchasing an additional 1,500 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of American Airlines Group in the 4th quarter worth $45,000. Finally, Quent Capital LLC lifted its stake in American Airlines Group by 70.2% in the fourth quarter. Quent Capital LLC now owns 3,064 shares of the airline’s stock valued at $53,000 after buying an additional 1,264 shares during the period. 52.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAL has been the subject of several analyst reports. Citigroup decreased their target price on American Airlines Group from $21.50 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Sanford C. Bernstein raised shares of American Airlines Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $14.00 to $24.00 in a research note on Tuesday, December 10th. TD Cowen increased their target price on shares of American Airlines Group to $26.00 and gave the stock a “buy” rating in a report on Thursday, March 13th. Raymond James reissued an “outperform” rating and issued a $23.00 price target (down previously from $24.00) on shares of American Airlines Group in a report on Friday, January 24th. Finally, Seaport Res Ptn upgraded American Airlines Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.30.

Insiders Place Their Bets

In related news, SVP Angela Owens sold 51,906 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $17.15, for a total transaction of $890,187.90. Following the transaction, the senior vice president now directly owns 112,412 shares of the company’s stock, valued at approximately $1,927,865.80. The trade was a 31.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert D. Isom, Jr. sold 102,441 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $17.21, for a total value of $1,763,009.61. Following the sale, the chief executive officer now directly owns 2,967,984 shares of the company’s stock, valued at $51,079,004.64. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

American Airlines Group Price Performance

American Airlines Group stock opened at $11.51 on Wednesday. American Airlines Group Inc. has a one year low of $9.07 and a one year high of $19.10. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 0.21 and a beta of 1.27. The firm has a 50-day moving average of $15.06 and a 200-day moving average of $14.49.

American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings results on Thursday, January 23rd. The airline reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.47. American Airlines Group had a negative return on equity of 28.56% and a net margin of 1.56%. As a group, sell-side analysts expect that American Airlines Group Inc. will post 2.42 earnings per share for the current year.

American Airlines Group Profile

American Airlines Group Inc, through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, DC, as well as through partner gateways in London, Doha, Madrid, Seattle/Tacoma, Sydney, and Tokyo.