CANADA LIFE ASSURANCE Co Has $7.46 Million Holdings in Air Lease Co. (NYSE:AL)

CANADA LIFE ASSURANCE Co decreased its holdings in shares of Air Lease Co. (NYSE:AL) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,801 shares of the transportation company’s stock after selling 455 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Air Lease were worth $7,457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in Air Lease during the 4th quarter worth $28,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Air Lease during the third quarter worth $31,000. SBI Securities Co. Ltd. bought a new stake in Air Lease in the fourth quarter valued at about $31,000. Brown Brothers Harriman & Co. increased its holdings in Air Lease by 5,245.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,069 shares of the transportation company’s stock valued at $52,000 after purchasing an additional 1,049 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings 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 worth $57,000 after buying an additional 1,115 shares during the last quarter. 94.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AL shares. Bank of America cut 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 research note on Friday, March 7th. JPMorgan Chase & Co. increased their target price 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. Finally, UBS Group set a $50.00 price target on shares of Air Lease in a 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 company’s stock. Based on data from MarketBeat, Air Lease presently has an average rating of “Moderate Buy” and an average target price of $55.67.

Air Lease Price Performance

NYSE AL opened at $43.00 on Wednesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.37 and a current ratio of 0.37. Air Lease Co. has a 52-week low of $38.25 and a 52-week high of $52.31. The business has a 50 day simple moving average of $45.85 and a 200 day simple moving average of $46.71. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.33 and a beta of 1.34.

Air Lease (NYSE:AL) last issued its quarterly earnings data on Thursday, February 13th. The transportation company reported $1.26 EPS for the quarter, topping 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 fiscal 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 given a dividend of $0.22 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 2.05%. Air Lease’s dividend payout ratio is currently 26.43%.

About Air Lease

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.