Envestnet Portfolio Solutions Inc. Sells 1,666 Shares of Air Lease Co. (NYSE:AL)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Air Lease Co. (NYSE:AL) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,896 shares of the transportation company’s stock after selling 1,666 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Air Lease were worth $1,200,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Swiss National Bank grew its position in shares of Air Lease by 0.7% in the 4th quarter. Swiss National Bank now owns 208,100 shares of the transportation company’s stock worth $10,033,000 after buying an additional 1,500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Air Lease by 22.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,581 shares of the transportation company’s stock worth $1,137,000 after acquiring an additional 4,322 shares during the period. Avantax Advisory Services Inc. boosted its holdings in Air Lease by 7.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 22,379 shares of the transportation company’s stock valued at $1,079,000 after acquiring an additional 1,530 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Air Lease by 6.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 64,683 shares of the transportation company’s stock valued at $3,118,000 after purchasing an additional 3,992 shares during the period. Finally, Glaxis Capital Management LLC purchased a new stake in shares of Air Lease in the 4th quarter worth about $1,495,000. 94.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AL. Bank of America cut shares of Air Lease from a “buy” rating to an “underperform” rating and reduced their price target for the company from $72.00 to $50.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Air Lease from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, UBS Group set a $50.00 price target on Air Lease in a research report on Friday, March 7th. One equities research 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 MarketBeat.com, Air Lease has an average rating of “Moderate Buy” and an average price target of $55.67.

Air Lease Price Performance

AL stock opened at $47.07 on Friday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a 50 day moving average price of $46.68 and a 200-day moving average price of $46.66. Air Lease Co. has a 52-week low of $39.43 and a 52-week high of $52.31. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.33 and a beta of 1.60.

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, beating analysts’ consensus estimates of $0.82 by $0.44. Air Lease had a return on equity of 8.01% and a net margin of 15.65%. Equities research analysts forecast that Air Lease Co. will post 5.16 EPS for the current fiscal year.

Air Lease Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 18th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, March 18th. Air Lease’s dividend payout ratio (DPR) 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.