Principal Financial Group Inc. Purchases 25,193 Shares of Air Lease Co. (NYSE:AL)

Principal Financial Group Inc. lifted its position in Air Lease Co. (NYSE:AL - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 855,240 shares of the transportation company's stock after purchasing an additional 25,193 shares during the period. Principal Financial Group Inc. owned about 0.77% of Air Lease worth $41,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AL. State Street Corp increased its stake in Air Lease by 0.8% in the 3rd quarter. State Street Corp now owns 3,410,373 shares of the transportation company's stock worth $155,180,000 after buying an additional 25,874 shares in the last quarter. Royce & Associates LP lifted its position in shares of Air Lease by 2.5% in the third quarter. Royce & Associates LP now owns 2,875,522 shares of the transportation company's stock valued at $130,232,000 after acquiring an additional 70,299 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Air Lease by 43.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock worth $134,332,000 after acquiring an additional 842,780 shares during the period. Geode Capital Management LLC grew its position in shares of Air Lease by 0.4% during the third quarter. Geode Capital Management LLC now owns 1,630,317 shares of the transportation company's stock worth $73,858,000 after purchasing an additional 6,190 shares in the last quarter. Finally, Reinhart Partners LLC. raised its stake in Air Lease by 2.7% during the 4th quarter. Reinhart Partners LLC. now owns 1,585,790 shares of the transportation company's stock valued at $76,451,000 after purchasing an additional 42,034 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Air Lease Price Performance

Air Lease stock traded up $0.07 during midday trading on Tuesday, reaching $47.54. 745,440 shares of the stock traded hands, compared to its average volume of 671,846. The stock has a market cap of $5.30 billion, a P/E ratio of 14.28, a PEG ratio of 1.33 and a beta of 1.59. The stock's fifty day moving average is $47.34 and its 200-day moving average is $46.52. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 12 month low of $39.40 and a 12 month high of $52.31.

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 anticipate that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.85%. Air Lease's payout ratio is currently 26.43%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AL shares. JPMorgan Chase & Co. upped their price target on Air Lease from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group restated a "buy" rating and set a $65.00 target price on shares of Air Lease in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.50.

Air Lease 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.