Principal Financial Group Inc. Has $37.59 Million Stock Position in Air Lease Co. (NYSE:AL)

Principal Financial Group Inc. grew its position in Air Lease Co. (NYSE:AL - Free Report) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 830,047 shares of the transportation company's stock after acquiring an additional 69,887 shares during the quarter. Principal Financial Group Inc. owned about 0.75% of Air Lease worth $37,591,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Eastern Bank acquired a new position in shares of Air Lease during the 3rd quarter valued at $27,000. Altshuler Shaham Ltd acquired a new stake in shares of Air Lease during the 2nd quarter worth approximately $29,000. GAMMA Investing LLC grew its stake in shares of Air Lease by 108.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company's stock worth $57,000 after acquiring an additional 624 shares in the last quarter. Hilltop National Bank increased its holdings in Air Lease by 33.8% in the 2nd quarter. Hilltop National Bank now owns 1,775 shares of the transportation company's stock worth $84,000 after acquiring an additional 448 shares during the last quarter. Finally, Monetary Management Group Inc. bought a new position in shares of Air Lease in the second quarter worth $95,000. 94.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AL has been the topic of a number of research reports. Barclays decreased their target price on shares of Air Lease from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. TD Cowen initiated coverage on shares of Air Lease in a research report on Monday, July 29th. They issued a "buy" rating and a $58.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their target price on Air Lease from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.75.

Air Lease Price Performance

Shares of Air Lease stock traded down $0.22 during trading on Tuesday, hitting $48.14. 391,099 shares of the stock traded hands, compared to its average volume of 967,921. Air Lease Co. has a 52 week low of $36.58 and a 52 week high of $52.31. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.40 and a beta of 1.59. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 2.69. The firm's fifty day moving average is $44.42 and its 200-day moving average is $46.20.

Air Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, December 12th. This is a positive change from Air Lease's previous quarterly dividend of $0.21. Air Lease's payout ratio is presently 20.05%.

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.