Sequoia Financial Advisors LLC Purchases 6,600 Shares of Air Lease Corporation (NYSE:AL)

Sequoia Financial Advisors LLC grew its holdings in Air Lease Corporation (NYSE:AL - Free Report) by 10.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,283 shares of the transportation company's stock after purchasing an additional 6,600 shares during the period. Sequoia Financial Advisors LLC owned about 0.06% of Air Lease worth $3,444,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Air Lease during the fourth quarter worth $31,000. Harbor Capital Advisors Inc. increased its position in Air Lease by 17.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 190,296 shares of the transportation company's stock worth $9,193,000 after purchasing an additional 27,611 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Air Lease in the 4th quarter worth about $202,000. Raymond James Financial Inc. purchased a new stake in shares of Air Lease during the 4th quarter worth about $31,414,000. Finally, Lighthouse Investment Partners LLC lifted its holdings in shares of Air Lease by 1,944.9% during the 4th quarter. Lighthouse Investment Partners LLC now owns 129,261 shares of the transportation company's stock valued at $6,232,000 after buying an additional 122,940 shares during the last quarter. 94.59% of the stock is owned by hedge funds and other institutional investors.

Air Lease Stock Performance

AL stock traded up $0.66 during midday trading on Friday, hitting $58.70. 1,043,472 shares of the company traded hands, compared to its average volume of 786,709. Air Lease Corporation has a twelve month low of $38.25 and a twelve month high of $59.27. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 0.63 and a beta of 1.36. 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 business has a 50 day simple moving average of $54.37 and a 200-day simple moving average of $49.29.

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

Air Lease Announces Dividend

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 issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, June 4th. Air Lease's dividend payout ratio (DPR) is 15.38%.

Insider Activity

In other 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 now directly owns 146,316 shares of the company's stock, valued at approximately $8,318,064.60. This represents a 6.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AL has been the topic of a number of research reports. Citigroup upgraded Air Lease from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $68.00 in a report on Tuesday, May 20th. Wall Street Zen upgraded shares of Air Lease from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Bank of America cut shares of Air Lease from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $72.00 to $50.00 in a report on Friday, March 7th. Finally, UBS Group set a $50.00 target price on shares of Air Lease in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Lease has an average rating of "Moderate Buy" and a consensus target price of $57.43.

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.