Legal & General Group Plc Has $17.04 Million Position in Air Lease Corporation $AL

Legal & General Group Plc lifted its stake in shares of Air Lease Corporation (NYSE:AL) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,392 shares of the transportation company’s stock after purchasing an additional 5,082 shares during the quarter. Legal & General Group Plc’s holdings in Air Lease were worth $17,044,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Greenland Capital Management LP acquired a new position in shares of Air Lease during the second quarter valued at about $1,696,000. Cetera Investment Advisers lifted its holdings in shares of Air Lease by 3.6% in the second quarter. Cetera Investment Advisers now owns 20,542 shares of the transportation company’s stock valued at $1,201,000 after purchasing an additional 711 shares in the last quarter. Creative Planning boosted its position in shares of Air Lease by 9.6% during the second quarter. Creative Planning now owns 14,210 shares of the transportation company’s stock valued at $831,000 after buying an additional 1,240 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Air Lease by 290.1% during the 2nd quarter. SG Americas Securities LLC now owns 13,838 shares of the transportation company’s stock worth $809,000 after acquiring an additional 10,291 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Air Lease by 7.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,684 shares of the transportation company’s stock worth $1,561,000 after purchasing an additional 1,896 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AL shares. Zacks Research lowered Air Lease from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft downgraded Air Lease from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Wednesday, September 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a report on Wednesday, October 8th. Cowen lowered Air Lease from a “buy” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, TD Cowen lowered shares of Air Lease from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.50.

Air Lease Stock Performance

NYSE AL opened at $63.93 on Friday. The firm has a market cap of $7.15 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 0.66 and a beta of 1.36. The company has a 50-day simple moving average of $63.69 and a two-hundred day simple moving average of $60.33. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 2.47. Air Lease Corporation has a 12-month low of $38.25 and a 12-month high of $64.30.

Air Lease (NYSE:AL) last issued its earnings results on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.13. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The company had revenue of $725.39 million during the quarter, compared to analysts’ expectations of $744.59 million. During the same period in the prior year, the business posted $0.82 EPS. Air Lease’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts forecast that Air Lease Corporation will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Thursday, December 4th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, December 4th. Air Lease’s payout ratio is presently 10.20%.

Insiders Place Their Bets

In other Air Lease news, EVP Kishore Korde sold 30,160 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $63.90, for a total transaction of $1,927,224.00. Following the completion of the sale, the executive vice president owned 79,263 shares of the company’s stock, valued at $5,064,905.70. This represents a 27.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven F. Udvar-Hazy sold 5,000 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $63.85, for a total transaction of $319,250.00. Following the completion of the sale, the director directly owned 1,517,366 shares in the company, valued at approximately $96,883,819.10. This trade represents a 0.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 174,635 shares of company stock valued at $11,145,895 over the last quarter. 6.64% of the stock is currently owned by company insiders.

About Air Lease

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.