Delta Air Lines, Inc. (NYSE:DAL) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. lifted its position in shares of Delta Air Lines, Inc. (NYSE:DAL) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DAL shares. Citigroup lowered 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 research note on Tuesday, March 18th. StockNews.com lowered shares of Delta Air Lines from a “buy” rating to a “hold” rating in a research report on Tuesday. Susquehanna boosted their price target on Delta Air Lines from $59.00 to $75.00 and gave the stock a “positive” rating in a research note on Tuesday, January 7th. TD Cowen upped their price target on Delta Air Lines from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, UBS Group reduced their price objective on Delta Air Lines from $90.00 to $77.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Delta Air Lines currently has an average rating of “Buy” and an average price target of $76.29.

Delta Air Lines Price Performance

Delta Air Lines stock opened at $48.67 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.32 and a current ratio of 0.37. The company has a market cap of $31.46 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.75 and a beta of 1.34. Delta Air Lines, Inc. has a 1 year low of $37.29 and a 1 year high of $69.98. The firm has a 50 day moving average price of $60.13 and a 200 day moving average price of $58.34.

Delta Air Lines (NYSE:DAL) last released its quarterly earnings data on Friday, January 10th. The transportation company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.09. Delta Air Lines had a return on equity of 30.41% and a net margin of 5.61%. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.20 billion. During the same period in the prior year, the firm posted $1.28 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts predict that Delta Air Lines, Inc. will post 7.63 earnings per share for the current 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 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, February 27th. Delta Air Lines’s dividend payout ratio is currently 11.26%.

Insider Buying and Selling

In other news, EVP Rahul D. Samant sold 38,023 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $64.89, for a total value of $2,467,312.47. Following the completion of the sale, the executive vice president now owns 52,789 shares of the company’s stock, valued at $3,425,478.21. This represents a 41.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William C. Carroll sold 6,783 shares of Delta Air Lines stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $65.94, for a total transaction of $447,271.02. Following the transaction, the senior vice president now owns 10,016 shares in the company, valued at $660,455.04. The trade was a 40.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,886 shares of company stock valued at $11,116,463. 0.96% of the stock is currently owned by corporate insiders.

Delta Air Lines Company 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.