Principal Financial Group Inc. Sells 266,558 Shares of Air Lease Corporation $AL

Principal Financial Group Inc. reduced its position in Air Lease Corporation (NYSE:AL) by 30.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 603,652 shares of the transportation company’s stock after selling 266,558 shares during the quarter. Principal Financial Group Inc. owned approximately 0.54% of Air Lease worth $38,423,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Mather Group LLC. bought a new stake in Air Lease during the third quarter valued at $29,000. True Wealth Design LLC raised its position in shares of Air Lease by 2,980.0% in the 3rd quarter. True Wealth Design LLC now owns 462 shares of the transportation company’s stock worth $29,000 after acquiring an additional 447 shares in the last quarter. First Horizon Corp acquired a new position in shares of Air Lease in the 3rd quarter valued at about $31,000. Nisa Investment Advisors LLC boosted its position in shares of Air Lease by 129.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 528 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 298 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Air Lease by 273.2% during the second quarter. Parkside Financial Bank & Trust now owns 556 shares of the transportation company’s stock worth $33,000 after purchasing an additional 407 shares during the period. Institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

Shares of AL stock opened at $64.53 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.42. The firm has a fifty day simple moving average of $64.24 and a two-hundred day simple moving average of $62.56. Air Lease Corporation has a 12 month low of $38.25 and a 12 month high of $64.71. The firm has a market capitalization of $7.21 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 0.56 and a beta of 1.13.

Air Lease (NYSE:AL) last released its quarterly earnings data on Monday, November 3rd. The transportation company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.13. The firm had revenue of $725.39 million for the quarter, compared to analyst estimates of $744.59 million. Air Lease had a net margin of 35.08% and a return on equity of 7.84%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.82 earnings per share. Analysts forecast that Air Lease Corporation will post 5.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AL shares. Weiss Ratings restated a “buy (b)” rating on shares of Air Lease in a report on Wednesday, January 21st. Barclays reissued an “equal weight” rating and set a $65.00 target price (down from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Finally, Zacks Research upgraded shares of Air Lease from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.17.

Insider Transactions at Air Lease

In other Air Lease news, Director Steven F. Udvar-Hazy sold 48,632 shares of Air Lease stock in a transaction on Monday, December 15th. The shares were sold at an average price of $64.18, for a total transaction of $3,121,201.76. Following the transaction, the director directly owned 14,050 shares of the company’s stock, valued at $901,729. The trade was a 77.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kishore Korde sold 20,662 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $64.10, for a total transaction of $1,324,434.20. Following the completion of the sale, the executive vice president owned 50,091 shares of the company’s stock, valued at approximately $3,210,833.10. This represents a 29.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 717,485 shares of company stock valued at $45,917,986 over the last ninety days. 6.64% of the stock is currently owned by insiders.

About Air Lease

Air Lease Corporation (NYSE: AL) is a leading aircraft leasing company that acquires commercial jet aircraft and leases them to airlines worldwide. The firm’s core business activities include direct aircraft acquisition, lease management and portfolio remarketing. By structuring sale‐and‐leaseback transactions, operating leases and secured loans, Air Lease provides flexible financing solutions that enable carriers to modernize their fleets without committing large amounts of capital to ownership.

Founded in 2010 and headquartered in Los Angeles, Air Lease Corporation serves a diverse customer base spanning North America, Europe, Asia, Latin America and the Middle East.