Zurich Insurance Group Ltd FI Acquires New Holdings in AerCap Holdings (NYSE:AER)

Zurich Insurance Group Ltd FI purchased a new position in AerCap Holdings (NYSE:AER - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 103,902 shares of the financial services provider's stock, valued at approximately $9,943,000. Zurich Insurance Group Ltd FI owned 0.05% of AerCap at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Squarepoint Ops LLC lifted its holdings in shares of AerCap by 149.0% in the fourth quarter. Squarepoint Ops LLC now owns 13,432 shares of the financial services provider's stock worth $1,285,000 after buying an additional 40,832 shares in the last quarter. Tidal Investments LLC raised its stake in shares of AerCap by 1,452.2% in the fourth quarter. Tidal Investments LLC now owns 131,871 shares of the financial services provider's stock valued at $12,620,000 after acquiring an additional 123,375 shares during the period. Skye Global Management LP bought a new position in shares of AerCap in the fourth quarter worth about $3,876,000. Raiffeisen Bank International AG bought a new position in shares of AerCap in the fourth quarter worth about $415,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of AerCap by 120.0% in the fourth quarter. Point72 Asset Management L.P. now owns 377,214 shares of the financial services provider's stock worth $36,099,000 after purchasing an additional 205,726 shares during the last quarter. 96.42% of the stock is currently owned by institutional investors.

AerCap Stock Performance

Shares of NYSE AER traded up $0.51 during midday trading on Friday, reaching $112.60. 1,119,896 shares of the stock were exchanged, compared to its average volume of 1,389,789. The firm has a 50-day simple moving average of $102.77 and a two-hundred day simple moving average of $99.26. AerCap Holdings has a twelve month low of $82.21 and a twelve month high of $114.42. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 2.22 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.89.

AerCap (NYSE:AER - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.69 by $0.99. AerCap had a net margin of 32.38% and a return on equity of 13.98%. The firm had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $2.01 billion. During the same quarter last year, the company earned $3.29 EPS. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, analysts anticipate that AerCap Holdings will post 11.29 EPS for the current fiscal year.

AerCap declared that its board has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

AerCap Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.08 annualized dividend and a yield of 0.96%. AerCap's dividend payout ratio (DPR) is presently 9.58%.

Analyst Ratings Changes

AER has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of AerCap from $112.00 to $114.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Susquehanna raised their price target on shares of AerCap from $120.00 to $130.00 and gave the company a "positive" rating in a report on Tuesday, May 13th. Morgan Stanley increased their price objective on shares of AerCap from $101.00 to $111.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. UBS Group lowered shares of AerCap to an "underperform" rating in a research report on Friday, March 7th. Finally, Bank of America raised their price target on shares of AerCap from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $119.25.

About AerCap

AerCap Holdings N.V. engages in the lease, financing, sale, and management of commercial flight equipment in China, Hong Kong, Macau, the United States, Ireland, and internationally. The company offers aircraft asset management services, such as remarketing aircraft and engines; collecting rental and maintenance rent payments, monitoring aircraft maintenance, monitoring and enforcing contract compliance, and accepting delivery and redelivery of aircraft and engines; and conducting ongoing lessee financial performance reviews.