Victory Capital Management Inc. Acquires 1,667 Shares of Air Lease Co. (NYSE:AL)

Victory Capital Management Inc. boosted its holdings in shares of Air Lease Co. (NYSE:AL) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,955 shares of the transportation company’s stock after acquiring an additional 1,667 shares during the quarter. Victory Capital Management Inc.’s holdings in Air Lease were worth $2,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AL. Wilmington Savings Fund Society FSB bought a new position in Air Lease during the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. bought a new position in Air Lease during the fourth quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC raised its position in Air Lease by 1,506.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 1,115 shares in the last quarter. Jones Financial Companies Lllp raised its position in Air Lease by 679.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,497 shares of the transportation company’s stock valued at $72,000 after acquiring an additional 1,305 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Air Lease by 2,018.9% during the fourth quarter. Venturi Wealth Management LLC now owns 2,246 shares of the transportation company’s stock valued at $108,000 after acquiring an additional 2,140 shares in the last quarter. Institutional investors own 94.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America downgraded Air Lease from a “buy” rating to an “underperform” rating and lowered their price target for the company from $72.00 to $50.00 in a report on Friday, March 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $65.00 price target on shares of Air Lease in a report on Thursday, November 21st. UBS Group set a $50.00 price target on Air Lease in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price target on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Air Lease currently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

Air Lease Trading Up 3.4 %

Shares of Air Lease stock opened at $46.03 on Monday. The company’s fifty day simple moving average is $46.68 and its 200-day simple moving average is $46.61. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.33 and a beta of 1.60. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.68. Air Lease Co. has a 1 year low of $39.43 and a 1 year high of $52.31.

Air Lease (NYSE:AL) last announced its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.44. Air Lease had a net margin of 15.65% and a return on equity of 8.01%. As a group, sell-side analysts expect that Air Lease Co. will post 5.16 EPS for the current year.

Air Lease Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Tuesday, March 18th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 1.91%. Air Lease’s payout ratio is 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.