Principal Financial Group Inc. lowered its stake in Air Lease Corporation (NYSE:AL) by 54.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,075 shares of the transportation company’s stock after selling 7,217 shares during the period. Principal Financial Group Inc.’s holdings in Air Lease Corporation were worth $235,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership raised its stake in Air Lease Corporation by 1.7% in the first quarter. Artisan Partners Limited Partnership now owns 9,059,266 shares of the transportation company’s stock valued at $351,047,000 after buying an additional 154,423 shares during the period. Neuberger Berman Group LLC raised its stake in Air Lease Corporation by 42.8% in the first quarter. Neuberger Berman Group LLC now owns 20,000 shares of the transportation company’s stock valued at $775,000 after buying an additional 5,991 shares during the period. Victory Capital Management Inc. raised its stake in Air Lease Corporation by 27.0% in the first quarter. Victory Capital Management Inc. now owns 134,320 shares of the transportation company’s stock valued at $5,205,000 after buying an additional 28,555 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in Air Lease Corporation by 1,073.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 279,676 shares of the transportation company’s stock valued at $10,837,000 after buying an additional 255,846 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Air Lease Corporation by 22.3% in the first quarter. Pacer Advisors Inc. now owns 10,745 shares of the transportation company’s stock valued at $416,000 after buying an additional 1,960 shares during the period. 92.09% of the stock is currently owned by institutional investors.
Shares of Air Lease Corporation (NYSE:AL) opened at 39.31 on Thursday. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 11.71 and a beta of 1.78. The company has a 50-day moving average price of $38.43 and a 200 day moving average price of $37.86. Air Lease Corporation has a 1-year low of $27.05 and a 1-year high of $41.44.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Wednesday, June 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, June 12th. This represents a $0.30 dividend on an annualized basis and a yield of 0.76%. Air Lease Corporation’s dividend payout ratio is currently 8.90%.
COPYRIGHT VIOLATION NOTICE: “Principal Financial Group Inc. Has $235,000 Stake in Air Lease Corporation (NYSE:AL)” was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://stocknewstimes.com/2017/08/03/principal-financial-group-inc-has-235000-stake-in-air-lease-corporation-nyseal.html.
Several analysts recently weighed in on the company. Morgan Stanley raised their price objective on Air Lease Corporation from $40.00 to $42.00 in a research note on Tuesday, July 4th. ValuEngine raised Air Lease Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Barclays PLC assumed coverage on Air Lease Corporation in a research note on Monday, July 10th. They issued an “overweight” rating and a $48.00 price objective on the stock. BidaskClub raised Air Lease Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Finally, Zacks Investment Research raised Air Lease Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $44.86.
In other Air Lease Corporation news, EVP Grant A. Levy sold 27,854 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $38.16, for a total value of $1,062,908.64. Following the transaction, the executive vice president now directly owns 210,824 shares in the company, valued at approximately $8,045,043.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kishore Korde sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $38.00, for a total value of $76,000.00. Following the completion of the transaction, the executive vice president now owns 86,410 shares in the company, valued at $3,283,580. The disclosure for this sale can be found here. 9.76% of the stock is owned by corporate insiders.
Air Lease Corporation Company Profile
Air Lease Corporation is an aircraft leasing company. The Company is principally engaged in purchasing new commercial jet transport aircraft directly from aircraft manufacturers, such as The Boeing Company (Boeing) and Airbus SAS. (Airbus), and leasing those aircraft to airlines across the world. Along with its leasing activities, the Company sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies and airlines.
Want to see what other hedge funds are holding AL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Air Lease Corporation (NYSE:AL).
Receive News & Ratings for Air Lease Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Lease Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
