AIA Group Ltd Boosts Holdings in Air Lease Co. (NYSE:AL)

AIA Group Ltd grew its stake in shares of Air Lease Co. (NYSE:AL) by 6.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,838 shares of the transportation company’s stock after acquiring an additional 1,961 shares during the period. AIA Group Ltd’s holdings in Air Lease were worth $1,535,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can raised its stake in Air Lease by 1.4% in the 3rd quarter. Bank of Montreal Can now owns 70,984 shares of the transportation company’s stock valued at $3,250,000 after acquiring an additional 966 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Air Lease by 6.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 24,665 shares of the transportation company’s stock worth $1,117,000 after buying an additional 1,390 shares during the period. BNP Paribas Financial Markets grew its stake in Air Lease by 12.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock valued at $157,000 after buying an additional 389 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Air Lease by 8.7% during the third quarter. Captrust Financial Advisors now owns 10,924 shares of the transportation company’s stock worth $495,000 after acquiring an additional 877 shares in the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Air Lease by 6.5% in the third quarter. Verition Fund Management LLC now owns 18,300 shares of the transportation company’s stock worth $829,000 after acquiring an additional 1,118 shares during the period. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Stock Up 0.3 %

Shares of NYSE AL opened at $48.36 on Tuesday. The business has a 50-day moving average of $46.99 and a 200-day moving average of $46.94. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.33 and a beta of 1.60. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 12 month low of $39.43 and a 12 month high of $52.31.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. Sell-side analysts expect that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s dividend payout ratio (DPR) is currently 26.43%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. UBS Group set a $50.00 price objective on shares of Air Lease in a research note on Friday, March 7th. Finally, Bank of America cut shares of Air Lease from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Air Lease has a consensus rating of “Moderate Buy” and an average price target of $55.67.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.