Legal & General Group Plc Decreases Stock Position in Air Lease Co. (NYSE:AL)

Legal & General Group Plc cut its holdings in shares of Air Lease Co. (NYSE:AL - Free Report) by 2.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 294,192 shares of the transportation company's stock after selling 8,458 shares during the period. Legal & General Group Plc owned approximately 0.26% of Air Lease worth $14,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Air Lease during the 4th quarter valued at approximately $28,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Air Lease during the third quarter worth about $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Air Lease during the 4th quarter worth about $31,000. Brown Brothers Harriman & Co. lifted its stake in Air Lease by 5,245.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company's stock valued at $52,000 after buying an additional 1,049 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Air Lease by 1,506.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company's stock worth $57,000 after buying an additional 1,115 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.

Air Lease Trading Down 2.2 %

Shares of NYSE AL traded down $0.93 during trading on Monday, hitting $41.51. 40,823 shares of the company were exchanged, compared to its average volume of 757,586. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The company has a fifty day moving average price of $46.01 and a 200-day moving average price of $46.75. Air Lease Co. has a 12-month low of $38.25 and a 12-month high of $52.31. The firm has a market capitalization of $4.64 billion, a PE ratio of 12.47, a P/E/G ratio of 1.33 and a beta of 1.34.

Air Lease (NYSE:AL - Get Free Report) last posted its earnings results on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. As a group, equities research analysts expect that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th were paid a $0.22 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.12%. Air Lease's payout ratio is presently 26.43%.

Wall Street Analysts Forecast Growth

AL has been the topic of a number of research analyst reports. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their price target on shares of Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, UBS Group set a $50.00 price objective on shares of Air Lease in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Air Lease has an average rating of "Moderate Buy" and a consensus 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.