59,198 Shares in Air Lease Co. (NYSE:AL) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new stake in Air Lease Co. (NYSE:AL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 59,198 shares of the transportation company's stock, valued at approximately $2,483,000. Sequoia Financial Advisors LLC owned about 0.05% of Air Lease at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Janney Capital Management LLC increased its stake in shares of Air Lease by 2.8% in the third quarter. Janney Capital Management LLC now owns 10,343 shares of the transportation company's stock worth $408,000 after buying an additional 281 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC increased its position in shares of Air Lease by 0.6% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 50,266 shares of the transportation company's stock worth $1,981,000 after purchasing an additional 290 shares during the last quarter. Citigroup Inc. grew its stake in Air Lease by 3.5% in the second quarter. Citigroup Inc. now owns 8,852 shares of the transportation company's stock worth $370,000 after purchasing an additional 302 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Air Lease by 3.3% in the second quarter. Principal Financial Group Inc. now owns 10,761 shares of the transportation company's stock valued at $360,000 after buying an additional 348 shares during the last quarter. Finally, Quent Capital LLC raised its stake in Air Lease by 10.4% during the fourth quarter. Quent Capital LLC now owns 3,798 shares of the transportation company's stock valued at $159,000 after buying an additional 358 shares in the last quarter. 94.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on AL. StockNews.com lowered Air Lease from a "buy" rating to a "hold" rating in a research report on Friday, March 29th. Barclays raised their target price on shares of Air Lease from $46.00 to $48.00 and gave the stock an "overweight" rating in a report on Thursday, January 25th. Finally, BMO Capital Markets lifted their target price on Air Lease from $54.00 to $55.00 and gave the company an "outperform" rating in a research note on Tuesday, February 20th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.50.

Air Lease Stock Performance

Shares of NYSE:AL traded down $0.60 during trading hours on Friday, hitting $48.56. The stock had a trading volume of 1,151,455 shares, compared to its average volume of 1,410,025. Air Lease Co. has a 1-year low of $33.33 and a 1-year high of $51.77. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 0.67 and a beta of 1.65. The stock's fifty day simple moving average is $45.10 and its 200 day simple moving average is $41.00.

Air Lease (NYSE:AL - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The transportation company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.79. The business had revenue of $716.57 million during the quarter, compared to the consensus estimate of $672.95 million. Air Lease had a net margin of 22.89% and a return on equity of 8.87%. The company's quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. Sell-side analysts anticipate that Air Lease Co. will post 5.64 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Friday, March 15th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.73%. Air Lease's dividend payout ratio is presently 16.31%.

Insider Buying and Selling

In other news, EVP Carol Hyland Forsyte sold 3,046 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $40.02, for a total value of $121,900.92. Following the completion of the sale, the executive vice president now owns 72,073 shares in the company, valued at $2,884,361.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Carol Hyland Forsyte sold 3,046 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $40.02, for a total transaction of $121,900.92. Following the completion of the transaction, the executive vice president now owns 72,073 shares in the company, valued at approximately $2,884,361.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kishore Korde sold 16,593 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $39.70, for a total transaction of $658,742.10. Following the completion of the sale, the executive vice president now owns 112,375 shares in the company, valued at $4,461,287.50. The disclosure for this sale can be found here. Insiders have sold a total of 89,646 shares of company stock valued at $3,705,152 over the last quarter. Corporate insiders own 6.64% of the company's stock.

About Air Lease

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.