Air Lease Co. (NYSE:AL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in Air Lease Co. (NYSE:AL) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,377 shares of the transportation company’s stock after selling 469 shares during the quarter. Corebridge Financial Inc.’s holdings in Air Lease were worth $211,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in Air Lease by 43.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,800,723 shares of the transportation company’s stock worth $134,332,000 after buying an additional 842,780 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Air Lease in the fourth quarter worth about $31,414,000. American Century Companies Inc. boosted its holdings in Air Lease by 13.7% in the fourth quarter. American Century Companies Inc. now owns 3,226,921 shares of the transportation company’s stock valued at $155,570,000 after purchasing an additional 389,070 shares during the last quarter. William Blair Investment Management LLC grew its stake in Air Lease by 32.1% during the 4th quarter. William Blair Investment Management LLC now owns 799,478 shares of the transportation company’s stock valued at $38,543,000 after purchasing an additional 194,189 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Air Lease by 14.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,022,459 shares of the transportation company’s stock worth $49,293,000 after purchasing an additional 131,453 shares during the last quarter. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AL has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Bank of America downgraded Air Lease from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, UBS Group set a $50.00 price objective on Air Lease in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

Air Lease Price Performance

Shares of NYSE:AL opened at $41.07 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. The firm’s 50 day moving average is $46.36 and its two-hundred day moving average is $46.81. The firm has a market capitalization of $4.59 billion, a P/E ratio of 12.33, a PEG ratio of 1.33 and a beta of 1.34. Air Lease Co. has a 52 week low of $38.25 and a 52 week high of $52.31.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. Analysts anticipate that Air Lease Co. will post 5.16 earnings per share for the current year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Tuesday, March 18th. Air Lease’s dividend payout ratio is presently 26.43%.

Air Lease 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.