Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in Air Lease Corporation (NYSE:AL)

Envestnet Portfolio Solutions Inc. reduced its position in shares of Air Lease Corporation (NYSE:AL - Free Report) by 29.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,634 shares of the transportation company's stock after selling 7,262 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Air Lease were worth $852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased 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 during the period. American Century Companies Inc. raised its position in shares of 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 in the last quarter. Earnest Partners LLC raised its position in shares of 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 in the last quarter. Capital Research Global Investors raised its position 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 in the last quarter. Finally, Reinhart Partners LLC. raised its position in shares of Air Lease by 11.9% in the 1st quarter. Reinhart Partners LLC. now owns 1,773,830 shares of the transportation company's stock worth $85,694,000 after acquiring an additional 188,040 shares in the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AL has been the subject of several recent research reports. Wall Street Zen raised Air Lease from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Bank of America lowered Air Lease from a "buy" rating to an "underperform" rating and reduced their price target for the stock from $72.00 to $50.00 in a research report on Friday, March 7th. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $45.00 to $68.00 in a research note on Tuesday, May 20th. Finally, UBS Group set a $50.00 target price on Air Lease in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, Air Lease presently has a consensus rating of "Moderate Buy" and an average target price of $57.43.

Air Lease Stock Performance

Air Lease stock traded up $0.66 during trading hours on Friday, hitting $58.70. 1,043,472 shares of the stock traded hands, compared to its average volume of 786,709. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.39 and a quick ratio of 0.39. The firm's 50 day moving average price is $54.37 and its 200-day moving average price is $49.29. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 0.63 and a beta of 1.36. Air Lease Corporation has a 1 year low of $38.25 and a 1 year high of $59.27.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The transportation company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.27. The business had revenue of $738.28 million for the quarter, compared to the consensus estimate of $709.70 million. Air Lease had a return on equity of 8.04% and a net margin of 24.77%. The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 EPS. As a group, equities analysts expect that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Air Lease Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, June 4th. This represents a $0.88 annualized dividend and a yield of 1.50%. Air Lease's payout ratio is presently 15.38%.

Insider Buying and Selling at Air Lease

In other news, EVP Grant A. Levy sold 10,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 146,316 shares of the company's stock, valued at $8,318,064.60. The trade was a 6.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.80% of the company's stock.

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.