AIA Group Ltd Buys 14,516 Shares of Air Lease Corporation (NYSE:AL)

Key Points

• AIA Group Ltd increased its stake in Air Lease Corporation by 45.6%, acquiring an additional 14,516 shares, bringing its total holdings to 46,354 shares worth approximately $2.24 million.
• Several other institutional investors have also significantly increased their stakes in Air Lease, with Capital Research Global Investors growing its position by 50.7%, and T. Rowe Price Investment Management increasing theirs by 83.6%.
• Air Lease recently announced a quarterly dividend of $0.22 per share, reflecting a 1.6% yield and a low dividend payout ratio of 10.68%.

AIA Group Ltd raised its holdings in shares of Air Lease Corporation (NYSE:AL - Free Report) by 45.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,354 shares of the transportation company's stock after acquiring an additional 14,516 shares during the period. AIA Group Ltd's holdings in Air Lease were worth $2,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Research Global Investors lifted its stake in Air Lease by 50.7% in the fourth 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. Raymond James Financial Inc. purchased a new stake in Air Lease in the fourth quarter worth $31,414,000. Allspring Global Investments Holdings LLC lifted its stake in Air Lease by 19.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,353,803 shares of the transportation company's stock worth $162,492,000 after acquiring an additional 553,080 shares during the period. Waverton Investment Management Ltd purchased a new stake in Air Lease in the first quarter worth $18,312,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Air Lease by 83.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 782,189 shares of the transportation company's stock worth $37,710,000 after acquiring an additional 356,127 shares during the period. 94.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP David Beker sold 2,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $55.44, for a total transaction of $110,880.00. Following the transaction, the executive vice president owned 19,770 shares of the company's stock, valued at approximately $1,096,048.80. This represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.64% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Barclays reissued an "overweight" rating and set a $67.00 price objective (up previously from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Finally, Citigroup raised Air Lease from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $45.00 to $68.00 in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

Air Lease Trading Down 1.2%

NYSE AL traded down $0.70 on Friday, hitting $57.21. 381,018 shares of the stock were exchanged, compared to its average volume of 849,342. Air Lease Corporation has a 52-week low of $38.25 and a 52-week high of $60.41. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a fifty day moving average price of $57.36 and a two-hundred day moving average price of $51.57. The firm has a market capitalization of $6.39 billion, a P/E ratio of 6.94, a P/E/G ratio of 0.60 and a beta of 1.41.

Air Lease (NYSE:AL - Get Free Report) last released its earnings results on Monday, August 4th. The transportation company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.07. Air Lease had a return on equity of 7.99% and a net margin of 34.04%. The business had revenue of $731.70 million for the quarter, compared to analyst estimates of $723.35 million. During the same quarter last year, the firm posted $1.23 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. Research analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.5%. Air Lease's dividend payout ratio is presently 10.68%.

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.