Corebridge Financial Inc. Grows Holdings in Delta Air Lines, Inc. (NYSE:DAL)

Corebridge Financial Inc. boosted its position in Delta Air Lines, Inc. (NYSE:DAL) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 221,115 shares of the transportation company’s stock after acquiring an additional 9,577 shares during the quarter. Corebridge Financial Inc.’s holdings in Delta Air Lines were worth $13,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Wave Wealth Advisors LLC acquired a new position in shares of Delta Air Lines in the fourth quarter worth about $27,000. Roxbury Financial LLC purchased a new stake in Delta Air Lines during the 4th quarter worth approximately $29,000. Hemington Wealth Management raised its position in shares of Delta Air Lines by 48.1% in the 4th quarter. Hemington Wealth Management now owns 474 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 154 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of Delta Air Lines during the 4th quarter valued at approximately $30,000. Finally, Modus Advisors LLC acquired a new stake in shares of Delta Air Lines during the fourth quarter worth approximately $33,000. 69.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Rahul D. Samant sold 17,970 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $69.08, for a total value of $1,241,367.60. Following the sale, the executive vice president now directly owns 35,889 shares in the company, valued at $2,479,212.12. The trade was a 33.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William C. Carroll sold 6,783 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.94, for a total transaction of $447,271.02. Following the sale, the senior vice president now owns 10,016 shares of the company’s stock, valued at $660,455.04. The trade was a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,886 shares of company stock worth $11,116,463 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DAL has been the topic of several recent analyst reports. Citigroup cut their price target on shares of Delta Air Lines from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Susquehanna upped their target price on shares of Delta Air Lines from $59.00 to $75.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. TD Cowen lifted their price target on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. UBS Group cut their price objective on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Finally, Barclays reduced their target price on Delta Air Lines from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $76.29.

Delta Air Lines Stock Performance

DAL stock opened at $48.67 on Wednesday. The company has a 50-day simple moving average of $60.13 and a 200 day simple moving average of $58.34. The company has a market capitalization of $31.46 billion, a P/E ratio of 9.13, a PEG ratio of 0.75 and a beta of 1.34. The company has a quick ratio of 0.32, a current ratio of 0.37 and a debt-to-equity ratio of 0.92. Delta Air Lines, Inc. has a fifty-two week low of $37.29 and a fifty-two week high of $69.98.

Delta Air Lines (NYSE:DAL) last issued its quarterly earnings results on Friday, January 10th. The transportation company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a net margin of 5.61% and a return on equity of 30.41%. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.20 billion. During the same period in the prior year, the business posted $1.28 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current fiscal year.

Delta Air Lines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, February 27th. Delta Air Lines’s dividend payout ratio is presently 11.26%.

About Delta Air Lines

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.