Air Lease Co. (NYSE:AL) Stock Position Decreased by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in Air Lease Co. (NYSE:AL) by 9.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Air Lease by 12.6% in the third quarter. BNP Paribas Financial Markets now owns 3,468 shares of the transportation company’s stock worth $157,000 after acquiring an additional 389 shares in the last quarter. Stifel Financial Corp grew its position in Air Lease by 7.9% during the 3rd quarter. Stifel Financial Corp now owns 84,188 shares of the transportation company’s stock worth $3,813,000 after purchasing an additional 6,136 shares in the last quarter. State Street Corp raised its stake in Air Lease by 0.8% during the 3rd quarter. State Street Corp now owns 3,410,373 shares of the transportation company’s stock valued at $155,180,000 after purchasing an additional 25,874 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Air Lease by 11.9% in the third quarter. Orion Portfolio Solutions LLC now owns 4,819 shares of the transportation company’s stock valued at $218,000 after purchasing an additional 511 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Air Lease by 12.9% in the third quarter. MML Investors Services LLC now owns 47,122 shares of the transportation company’s stock valued at $2,134,000 after purchasing an additional 5,387 shares in the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Air Lease from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Bank of America cut Air Lease from a “buy” rating to an “underperform” rating and lowered their target price for the company from $72.00 to $50.00 in a research note on Friday, March 7th. Finally, UBS Group set a $50.00 price target on shares of Air Lease in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.67.

Air Lease Price Performance

AL opened at $41.07 on Friday. The stock has a fifty day moving average price of $46.36 and a 200 day moving average price of $46.81. 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 $38.25 and a 1 year high of $52.31. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 1.33 and a beta of 1.34.

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

Air Lease Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Tuesday, March 18th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.14%. The ex-dividend date was Tuesday, March 18th. Air Lease’s dividend 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.