Legal & General Group Plc Acquires 16,288 Shares of Air Lease Corp (AL)

Legal & General Group Plc grew its holdings in Air Lease Corp (NYSE:AL) by 27.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,362 shares of the transportation company’s stock after purchasing an additional 16,288 shares during the quarter. Legal & General Group Plc owned 0.07% of Air Lease worth $3,211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Israel Discount Bank of New York raised its holdings in Air Lease by 7.7% in the second quarter. Israel Discount Bank of New York now owns 2,785 shares of the transportation company’s stock valued at $104,000 after acquiring an additional 200 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in Air Lease in the second quarter valued at approximately $111,000. QS Investors LLC raised its holdings in Air Lease by 0.6% in the second quarter. QS Investors LLC now owns 3,464 shares of the transportation company’s stock valued at $129,000 after acquiring an additional 21 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Air Lease by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,599 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 331 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Air Lease by 14.5% in the second quarter. Advisors Asset Management Inc. now owns 4,901 shares of the transportation company’s stock valued at $183,000 after acquiring an additional 621 shares in the last quarter. 91.83% of the stock is owned by institutional investors and hedge funds.

In related news, CEO John L. Plueger sold 300,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $41.34, for a total value of $12,402,000.00. Following the sale, the chief executive officer now directly owns 1,057,310 shares in the company, valued at approximately $43,709,195.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jie Chen sold 4,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $43.00, for a total transaction of $172,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 379,000 shares of company stock worth $15,919,270 over the last 90 days. Insiders own 9.76% of the company’s stock.

AL has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Air Lease from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Royal Bank of Canada raised their price objective on shares of Air Lease from $79.00 to $80.00 and gave the stock a “top pick” rating in a report on Friday, September 29th. Bank of America set a $47.00 price objective on shares of Air Lease and gave the stock a “hold” rating in a report on Thursday, October 19th. UBS Group raised their price objective on shares of Air Lease from $30.00 to $31.00 and gave the stock a “sell” rating in a report on Friday, November 10th. Finally, Credit Suisse Group raised their price objective on shares of Air Lease from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Air Lease has a consensus rating of “Hold” and an average target price of $48.50.

Air Lease Corp (NYSE:AL) opened at $47.82 on Monday. The company has a market cap of $4,898.74, a price-to-earnings ratio of 13.70, a PEG ratio of 1.42 and a beta of 1.82. Air Lease Corp has a 1-year low of $34.21 and a 1-year high of $47.91. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.06 and a quick ratio of 1.06.

Air Lease (NYSE:AL) last posted its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Air Lease had a net margin of 25.67% and a return on equity of 10.87%. The firm had revenue of $376.77 million for the quarter, compared to analyst estimates of $374.61 million. During the same period last year, the firm posted $1.43 EPS. Air Lease’s quarterly revenue was up 6.1% on a year-over-year basis. analysts predict that Air Lease Corp will post 3.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Thursday, December 14th will be given a dividend of $0.10 per share. This is a positive change from Air Lease’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, December 13th. Air Lease’s payout ratio is presently 11.46%.

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Air Lease Company Profile

Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.

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Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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