Envestnet Asset Management Inc. Reduces Stake in Air Lease Corporation (NYSE:AL)

Envestnet Asset Management Inc. lessened its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 833,087 shares of the transportation company's stock after selling 11,696 shares during the period. Envestnet Asset Management Inc. owned 0.75% of Air Lease worth $40,246,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Air Lease by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 5,384,230 shares of the transportation company's stock worth $259,574,000 after purchasing an additional 362,585 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Air Lease by 19.7% in the 1st 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 last quarter. American Century Companies Inc. increased its stake 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 worth $155,570,000 after acquiring an additional 389,070 shares during the last quarter. Earnest Partners LLC increased its stake in Air Lease by 0.4% in the 4th quarter. Earnest Partners LLC now owns 2,577,931 shares of the transportation company's stock worth $124,282,000 after acquiring an additional 9,809 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in 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 last quarter. Hedge funds and other institutional investors own 94.59% of the company's stock.

Insider Transactions at Air Lease

In other Air Lease news, EVP Grant A. Levy sold 10,000 shares of the stock in a transaction that occurred 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 owned 146,316 shares in the company, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.64% of the stock is currently owned by insiders.

Air Lease Price Performance

Shares of Air Lease stock traded up $0.02 during trading on Thursday, hitting $58.32. 670,496 shares of the stock traded hands, compared to its average volume of 782,337. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.53. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.63 and a beta of 1.35. The firm's fifty day moving average is $57.55 and its 200-day moving average is $50.25. Air Lease Corporation has a 52 week low of $38.25 and a 52 week high of $60.41.

Air Lease (NYSE:AL - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The transportation company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.24 by $0.27. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The firm had revenue of $738.28 million for the quarter, compared to analyst estimates of $709.70 million. During the same period in the prior year, the company earned $0.87 EPS. The company's revenue was up 11.3% on a year-over-year basis. Research analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 4th were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.51%. Air Lease's payout ratio is 15.38%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AL shares. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and upped their target price for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Barclays restated an "overweight" rating and issued a $67.00 target price (up from $56.00) on shares of Air Lease in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded Air Lease from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.29.

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.