Segall Bryant & Hamill LLC Trims Position in Air Lease Corp (AL)

Segall Bryant & Hamill LLC lessened its stake in Air Lease Corp (NYSE:AL) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,147,733 shares of the transportation company’s stock after selling 61,652 shares during the period. Air Lease comprises 1.1% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 20th biggest holding. Segall Bryant & Hamill LLC owned approximately 1.10% of Air Lease worth $48,916,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AL. EJF Capital LLC acquired a new position in Air Lease in the first quarter worth about $16,409,000. Boston Partners raised its position in Air Lease by 2.9% in the first quarter. Boston Partners now owns 8,555,116 shares of the transportation company’s stock worth $364,619,000 after purchasing an additional 239,216 shares in the last quarter. Two Sigma Investments LP raised its position in Air Lease by 196.4% in the fourth quarter. Two Sigma Investments LP now owns 278,917 shares of the transportation company’s stock worth $13,413,000 after purchasing an additional 184,821 shares in the last quarter. LSV Asset Management raised its position in Air Lease by 27.7% in the first quarter. LSV Asset Management now owns 546,783 shares of the transportation company’s stock worth $23,303,000 after purchasing an additional 118,600 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in Air Lease in the first quarter worth about $4,929,000. Institutional investors and hedge funds own 85.03% of the company’s stock.

In other Air Lease news, insider Steven F. Udvar-Hazy sold 30,363 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $44.25, for a total value of $1,343,562.75. Following the transaction, the insider now directly owns 959,175 shares of the company’s stock, valued at $42,443,493.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Grant A. Levy sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $44.01, for a total transaction of $440,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 84,507 shares of company stock valued at $3,773,850. 9.32% of the stock is currently owned by company insiders.

Several research firms recently issued reports on AL. UBS Group reissued a “sell” rating and issued a $32.00 price target (up previously from $31.00) on shares of Air Lease in a research report on Wednesday, February 21st. ValuEngine raised shares of Air Lease from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Macquarie started coverage on shares of Air Lease in a report on Tuesday, March 13th. They set an “outperform” rating for the company. Citigroup reaffirmed a “hold” rating and set a $49.00 price objective on shares of Air Lease in a report on Wednesday, February 28th. Finally, Bank of America raised shares of Air Lease from a “neutral” rating to a “buy” rating and set a $56.00 price objective for the company in a report on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Air Lease has a consensus rating of “Hold” and a consensus price target of $53.35.

Shares of Air Lease traded up $0.30, reaching $44.86, during midday trading on Thursday, Marketbeat.com reports. The company had a trading volume of 2,253 shares, compared to its average volume of 658,283. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $4.66 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.37 and a beta of 1.73. Air Lease Corp has a 1-year low of $35.75 and a 1-year high of $50.70.

Air Lease (NYSE:AL) last issued its quarterly earnings results on Thursday, May 10th. The transportation company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.05. The business had revenue of $381.20 million during the quarter, compared to analyst estimates of $379.74 million. Air Lease had a net margin of 50.86% and a return on equity of 11.03%. Air Lease’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. sell-side analysts expect that Air Lease Corp will post 4.51 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 10th. Investors of record on Tuesday, June 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, June 4th. Air Lease’s dividend payout ratio is currently 10.96%.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet transport aircraft to airlines worldwide. The company also sells aircraft from its operating lease portfolio to third parties, including other leasing companies, financial services companies, and airlines.

Institutional Ownership by Quarter for Air Lease (NYSE:AL)

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