Envestnet Portfolio Solutions Inc. Has $852,000 Holdings in Air Lease Corporation (NYSE:AL)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Air Lease Corporation (NYSE:AL - Free Report) by 29.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AL. Fortis Advisors LLC grew its holdings in shares of Air Lease by 21.2% in the 1st quarter. Fortis Advisors LLC now owns 11,425 shares of the transportation company's stock worth $552,000 after purchasing an additional 2,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Air Lease by 8.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,808 shares of the transportation company's stock worth $812,000 after purchasing an additional 1,243 shares during the last quarter. Parkside Investments LLC grew its holdings in shares of Air Lease by 1.4% in the 1st quarter. Parkside Investments LLC now owns 197,003 shares of the transportation company's stock worth $9,517,000 after purchasing an additional 2,775 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Air Lease by 2.7% in the 1st quarter. Fifth Third Bancorp now owns 37,346 shares of the transportation company's stock worth $1,804,000 after purchasing an additional 968 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Air Lease by 79.3% in the 1st quarter. GAMMA Investing LLC now owns 4,140 shares of the transportation company's stock worth $200,000 after purchasing an additional 1,831 shares during the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America lowered shares of Air Lease from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $72.00 to $50.00 in a report on Friday, March 7th. Citigroup raised shares of 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 report on Tuesday, May 20th. UBS Group set a $50.00 target price on shares of Air Lease in a report on Friday, March 7th. Finally, Wall Street Zen raised shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.43.

Air Lease Stock Down 0.5%

Shares of NYSE:AL opened at $56.81 on Thursday. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $59.27. The company's 50-day moving average price is $53.73 and its two-hundred day moving average price is $49.18. 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 firm has a market cap of $6.35 billion, a P/E ratio of 9.93, a P/E/G ratio of 0.62 and a beta of 1.36.

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

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 4th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is presently 15.38%.

Insider Activity

In other news, EVP Grant A. Levy sold 10,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $56.85, for a total value of $568,500.00. Following the transaction, the executive vice president now owns 146,316 shares of the company's stock, valued at approximately $8,318,064.60. This trade represents a 6.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.64% of the company's stock.

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.

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