Sei Investments Co. Acquires 10,582 Shares of Air Lease Corporation $AL

Key Points

• Sei Investments Co. increased its stake in Air Lease Corporation by 2.8%, owning 388,066 shares valued at approximately $18.7 million after buying an additional 10,582 shares.
• Several analysts have raised their ratings on Air Lease, including Citigroup who upgraded the stock to a "buy" rating with a price target increase from $45.00 to $68.00.
• Air Lease recently announced a quarterly dividend of $0.22, indicating a 1.5% dividend yield and a payout ratio of 10.68%.

Sei Investments Co. boosted its stake in shares of Air Lease Corporation (NYSE:AL - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 388,066 shares of the transportation company's stock after buying an additional 10,582 shares during the period. Sei Investments Co. owned about 0.35% of Air Lease worth $18,716,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AL. Raymond James Financial Inc. acquired a new stake in shares of Air Lease during the fourth quarter valued at approximately $31,414,000. Treasurer of the State of North Carolina raised its stake in Air Lease by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 45,851 shares of the transportation company's stock valued at $2,210,000 after purchasing an additional 280 shares during the period. Barclays PLC lifted its holdings in shares of Air Lease by 21.4% in the fourth quarter. Barclays PLC now owns 104,429 shares of the transportation company's stock valued at $5,034,000 after purchasing an additional 18,396 shares in the last quarter. Mariner LLC lifted its holdings in shares of Air Lease by 15.4% in the fourth quarter. Mariner LLC now owns 20,085 shares of the transportation company's stock valued at $968,000 after purchasing an additional 2,686 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Air Lease in the fourth quarter worth $255,000. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Down 0.8%

Air Lease stock traded down $0.4850 during mid-day trading on Wednesday, hitting $57.6150. 709,834 shares of the company's stock were exchanged, compared to its average volume of 842,264. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $60.41. The stock has a 50 day moving average of $57.36 and a two-hundred day moving average of $51.89. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 2.47. The stock has a market cap of $6.44 billion, a P/E ratio of 6.99, a P/E/G ratio of 0.60 and a beta of 1.41.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly 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. The company had revenue of $731.70 million during the quarter, compared to analysts' expectations of $723.35 million. Air Lease had a return on equity of 7.99% and a net margin of 34.04%.The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, analysts anticipate that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders 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 yield of 1.5%. Air Lease's dividend payout ratio is presently 10.68%.

Insider Buying and Selling

In other news, EVP David Beker sold 2,000 shares of Air Lease stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $55.44, for a total value of $110,880.00. Following the transaction, the executive vice president owned 19,770 shares of the company's stock, valued at $1,096,048.80. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AL. Barclays restated an "overweight" rating and set a $67.00 price objective (up from $56.00) on shares of Air Lease in a research report on Thursday, July 10th. Citigroup upgraded shares of Air Lease from a "neutral" rating to a "buy" rating and raised their price target for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. Finally, Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Air Lease currently has a consensus rating of "Moderate Buy" and an average target price of $59.50.

About Air Lease

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.