Ameriprise Financial Inc. Has $15.79 Million Stake in Air Lease Co. (NYSE:AL)

Ameriprise Financial Inc. lowered its holdings in shares of Air Lease Co. (NYSE:AL - Free Report) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,590 shares of the transportation company's stock after selling 21,208 shares during the period. Ameriprise Financial Inc. owned approximately 0.29% of Air Lease worth $15,794,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Air Lease by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company's stock valued at $259,574,000 after purchasing an additional 362,585 shares during the period. American Century Companies Inc. grew its position in Air Lease by 13.7% in the 4th quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company's stock valued at $155,570,000 after buying an additional 389,070 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Air Lease by 43.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company's stock valued at $134,332,000 after buying an additional 842,780 shares during the period. Earnest Partners LLC raised its position in shares of Air Lease by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company's stock worth $124,282,000 after buying an additional 9,809 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Air Lease by 50.7% in the 4th quarter. Capital Research Global Investors now owns 2,050,000 shares of the transportation company's stock worth $98,830,000 after acquiring an additional 690,000 shares during the period. Institutional investors and hedge funds own 94.59% of the company's stock.

Insiders Place Their Bets

In other news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $56.85, for a total value of $568,500.00. Following the completion of the sale, the executive vice president now owns 146,316 shares in the company, valued at $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.80% of the company's stock.

Air Lease Price Performance

Shares of NYSE:AL traded down $0.37 on Thursday, reaching $56.24. 121,262 shares of the company traded hands, compared to its average volume of 776,998. The stock has a market capitalization of $6.29 billion, a PE ratio of 16.87, a P/E/G ratio of 1.33 and a beta of 1.33. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.37 and a quick ratio of 0.37. The company's 50 day moving average is $47.84 and its 200-day moving average is $47.80. Air Lease Co. has a fifty-two week low of $38.25 and a fifty-two week high of $59.27.

Air Lease (NYSE:AL - Get Free Report) last announced its earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.27. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. The company had revenue of $738.28 million for the quarter, compared to analyst estimates of $709.70 million. During the same period in the previous year, the firm earned $0.87 earnings per share. Air Lease's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, analysts anticipate that Air Lease Co. will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Wednesday, June 4th. Air Lease's dividend payout ratio is presently 15.38%.

Analyst Ratings Changes

A number of research firms recently commented on AL. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price objective for the company from $45.00 to $68.00 in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Air Lease from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. StockNews.com raised Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Bank of America cut Air Lease from a "buy" rating to an "underperform" rating and decreased their target price for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, UBS Group set a $50.00 price target on shares of Air Lease in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Air Lease has an average rating of "Moderate Buy" and an average target price of $57.43.

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.