Principal Financial Group Inc. Acquires 16,738 Shares of Southwest Airlines Co. (NYSE:LUV)

Principal Financial Group Inc. lifted its holdings in shares of Southwest Airlines Co. (NYSE:LUVGet Rating) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 735,547 shares of the airline’s stock after acquiring an additional 16,738 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Southwest Airlines worth $26,568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Southwest Airlines by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 63,028,745 shares of the airline’s stock worth $2,886,717,000 after buying an additional 1,213,767 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Southwest Airlines by 557.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 946,671 shares of the airline’s stock worth $34,194,000 after buying an additional 802,645 shares in the last quarter. Interval Partners LP acquired a new position in shares of Southwest Airlines during the 1st quarter worth $28,509,000. Carmignac Gestion acquired a new position in shares of Southwest Airlines during the 1st quarter worth $25,462,000. Finally, Ruffer LLP raised its holdings in shares of Southwest Airlines by 98.4% during the 2nd quarter. Ruffer LLP now owns 1,060,570 shares of the airline’s stock worth $38,334,000 after buying an additional 525,990 shares in the last quarter. 76.40% of the stock is currently owned by institutional investors.

Southwest Airlines Stock Performance

Southwest Airlines stock opened at $38.11 on Friday. The stock’s 50 day simple moving average is $34.76 and its two-hundred day simple moving average is $38.03. Southwest Airlines Co. has a fifty-two week low of $30.20 and a fifty-two week high of $50.10. The stock has a market cap of $22.63 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 2.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.50 and a current ratio of 1.58.

Southwest Airlines (NYSE:LUVGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The airline reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.08. The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.22 billion. Southwest Airlines had a net margin of 3.64% and a return on equity of 9.66%. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) EPS. As a group, analysts expect that Southwest Airlines Co. will post 2.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LUV has been the topic of a number of research reports. Morgan Stanley reduced their price objective on Southwest Airlines from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. Melius initiated coverage on Southwest Airlines in a research report on Monday, August 15th. They set a “buy” rating on the stock. Susquehanna Bancshares reduced their price objective on Southwest Airlines from $45.00 to $40.00 in a research report on Tuesday, October 11th. StockNews.com upgraded Southwest Airlines from a “hold” rating to a “buy” rating in a research report on Friday, October 28th. Finally, Barclays reduced their price target on Southwest Airlines from $50.00 to $40.00 in a research report on Wednesday, October 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.76.

Insider Buying and Selling

In other Southwest Airlines news, Director John T. Montford sold 2,250 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $38.87, for a total value of $87,457.50. Following the sale, the director now owns 21,046 shares in the company, valued at approximately $818,058.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is currently owned by insiders.

Southwest Airlines Company Profile

(Get Rating)

Southwest Airlines Co operates as a passenger airline company that provide scheduled air transportation services in the United States and near-international markets. As of December 31, 2021, the company operated a total fleet of 728 Boeing 737 aircrafts; and served 121 destinations in 42 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.

Further Reading

Institutional Ownership by Quarter for Southwest Airlines (NYSE:LUV)

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