Neuberger Berman Group LLC Sells 496,446 Shares of Aercap Holdings N.V. (AER)
Neuberger Berman Group LLC lowered its stake in shares of Aercap Holdings N.V. (NYSE:AER) by 13.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,089,671 shares of the financial services provider’s stock after selling 496,446 shares during the period. Neuberger Berman Group LLC owned 1.86% of Aercap Holdings N.V. worth $143,453,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of AER. James Investment Research Inc. acquired a new position in Aercap Holdings N.V. during the first quarter valued at $146,000. Nationwide Fund Advisors increased its position in Aercap Holdings N.V. by 438.8% in the first quarter. Nationwide Fund Advisors now owns 310,517 shares of the financial services provider’s stock valued at $14,274,000 after buying an additional 252,889 shares during the period. Korea Investment CORP increased its position in Aercap Holdings N.V. by 118.6% in the first quarter. Korea Investment CORP now owns 47,000 shares of the financial services provider’s stock valued at $2,161,000 after buying an additional 25,500 shares during the period. Janney Montgomery Scott LLC increased its position in Aercap Holdings N.V. by 35.4% in the first quarter. Janney Montgomery Scott LLC now owns 29,400 shares of the financial services provider’s stock valued at $1,352,000 after buying an additional 7,681 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Aercap Holdings N.V. by 17.0% in the first quarter. Russell Investments Group Ltd. now owns 315,383 shares of the financial services provider’s stock valued at $14,500,000 after buying an additional 45,801 shares during the period. Hedge funds and other institutional investors own 88.94% of the company’s stock.
Aercap Holdings N.V. (AER) opened at 49.20 on Tuesday. Aercap Holdings N.V. has a 12 month low of $36.38 and a 12 month high of $50.79. The firm’s 50-day moving average is $48.71 and its 200-day moving average is $46.19. The firm has a market capitalization of $7.90 billion, a PE ratio of 7.76 and a beta of 1.87.
Aercap Holdings N.V. (NYSE:AER) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.29. Aercap Holdings N.V. had a return on equity of 14.43% and a net margin of 22.26%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $1.22 EPS. Aercap Holdings N.V.’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that Aercap Holdings N.V. will post $6.08 EPS for the current year.
Aercap Holdings N.V. announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 9th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Several research firms have issued reports on AER. Citigroup Inc. reaffirmed a “buy” rating and set a $57.00 price target (up from $54.00) on shares of Aercap Holdings N.V. in a research note on Monday, May 15th. ValuEngine raised shares of Aercap Holdings N.V. from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 19th. Credit Suisse Group reaffirmed a “buy” rating and set a $56.00 price target on shares of Aercap Holdings N.V. in a research note on Wednesday, May 24th. BidaskClub raised shares of Aercap Holdings N.V. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Morgan Stanley decreased their price target on shares of Aercap Holdings N.V. from $48.00 to $44.00 in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $57.45.
In related news, CEO Aengus Kelly sold 100,000 shares of Aercap Holdings N.V. stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $49.87, for a total value of $4,987,000.00. Following the sale, the chief executive officer now owns 2,231,875 shares of the company’s stock, valued at approximately $111,303,606.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Gradon sold 742 shares of Aercap Holdings N.V. stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $50.16, for a total value of $37,218.72. Following the completion of the sale, the director now directly owns 3,380 shares in the company, valued at approximately $169,540.80. The disclosure for this sale can be found here.
About Aercap Holdings N.V.
AerCap Holdings N.V. is an independent aircraft leasing company. The Company focuses on acquiring in-demand aircraft, funding them, hedging interest rate risk and using its platform to deploy these assets. It operates its business on a global basis, leasing aircraft to customers in various geographical regions.
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