Assenagon Asset Management S.A. bought a new position in Air Lease Co. (NYSE:AL – Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 134,563 shares of the transportation company’s stock, valued at approximately $5,298,000. Assenagon Asset Management S.A. owned 0.12% of Air Lease as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Stanley Laman Group Ltd. raised its holdings in Air Lease by 1.4% in the first quarter. Stanley Laman Group Ltd. now owns 84,917 shares of the transportation company’s stock worth $3,343,000 after purchasing an additional 1,167 shares during the period. Copeland Capital Management LLC raised its holdings in Air Lease by 7.7% in the first quarter. Copeland Capital Management LLC now owns 1,599,203 shares of the transportation company’s stock worth $62,961,000 after purchasing an additional 114,725 shares during the period. Raymond James & Associates raised its holdings in Air Lease by 2.3% in the first quarter. Raymond James & Associates now owns 350,524 shares of the transportation company’s stock worth $13,800,000 after purchasing an additional 7,909 shares during the period. Transcend Capital Advisors LLC acquired a new stake in Air Lease in the first quarter worth $253,000. Finally, Fulton Bank N.A. bought a new stake in shares of Air Lease during the first quarter worth $236,000. 89.61% of the stock is currently owned by institutional investors and hedge funds.
Air Lease Stock Up 0.2 %
Air Lease stock opened at $41.94 on Tuesday. The company has a market cap of $4.66 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.77. Air Lease Co. has a 1-year low of $30.08 and a 1-year high of $46.20. The company has a fifty day simple moving average of $39.80 and a 200 day simple moving average of $40.49. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.88.
Air Lease Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Tuesday, June 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Monday, June 5th. Air Lease’s dividend payout ratio (DPR) is presently 19.42%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Air Lease in a research report on Thursday, May 18th. They set a “hold” rating for the company. Citigroup assumed coverage on shares of Air Lease in a research report on Monday, May 15th. They set a “neutral” rating and a $41.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Air Lease has an average rating of “Moderate Buy” and a consensus target price of $51.75.
Insider Activity
In related news, Director Yvette Hollingsworth Clark bought 2,600 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $37.96 per share, for a total transaction of $98,696.00. Following the purchase, the director now owns 19,856 shares in the company, valued at approximately $753,733.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Yvette Hollingsworth Clark bought 2,600 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $37.96 per share, for a total transaction of $98,696.00. Following the purchase, the director now owns 19,856 shares in the company, valued at approximately $753,733.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex A. Khatibi sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the sale, the executive vice president now owns 89,266 shares of the company’s stock, valued at approximately $3,570,640. The disclosure for this sale can be found here. Insiders own 6.50% 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 also sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. In addition, the company provides fleet management services to investors and owners of aircraft portfolios.
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