Skandinaviska Enskilda Banken AB publ Invests $636,000 in Air Lease Corporation $AL

Skandinaviska Enskilda Banken AB publ bought a new position in shares of Air Lease Corporation (NYSE:AL) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 10,000 shares of the transportation company’s stock, valued at approximately $636,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Air Lease during the second quarter valued at approximately $71,910,000. High Ground Investment Management LLP acquired a new position in shares of Air Lease during the 3rd quarter valued at $34,957,000. Cubist Systematic Strategies LLC acquired a new position in shares of Air Lease during the 2nd quarter valued at $22,986,000. Adage Capital Partners GP L.L.C. purchased a new stake in Air Lease during the 2nd quarter worth $22,217,000. Finally, Boston Partners increased its holdings in Air Lease by 104.4% in the 2nd quarter. Boston Partners now owns 648,679 shares of the transportation company’s stock valued at $37,938,000 after purchasing an additional 331,291 shares in the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Air Lease Stock Performance

NYSE:AL opened at $64.92 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a 50-day moving average of $64.40 and a two-hundred day moving average of $63.23. The stock has a market cap of $7.27 billion, a P/E ratio of 6.97, a PEG ratio of 0.54 and a beta of 1.13. Air Lease Corporation has a 1-year low of $38.25 and a 1-year high of $64.92.

Air Lease (NYSE:AL) last announced its earnings results on Thursday, February 12th. The transportation company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.74. The business had revenue of $679.54 million for the quarter, compared to analyst estimates of $782.67 million. Air Lease had a return on equity of 8.54% and a net margin of 35.72%.The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.83 earnings per share. On average, research analysts expect that Air Lease Corporation will post 5.16 earnings per share for the current fiscal year.

Air Lease Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd. Air Lease’s dividend payout ratio is 9.45%.

Insider Transactions at Air Lease

In related news, Director Steven F. Udvar-Hazy sold 19,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $64.12, for a total value of $1,218,280.00. Following the sale, the director directly owned 1,391,366 shares of the company’s stock, valued at $89,214,387.92. This represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Grant A. Levy sold 1,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $64.30, for a total transaction of $64,300.00. Following the transaction, the executive vice president directly owned 137,206 shares of the company’s stock, valued at approximately $8,822,345.80. This represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 641,418 shares of company stock valued at $41,062,322. 6.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on AL. Weiss Ratings reissued a “buy (b)” rating on shares of Air Lease in a research report on Wednesday, January 21st. Barclays reiterated an “equal weight” rating and issued a $65.00 target price (down previously from $68.00) on shares of Air Lease in a research note on Tuesday, January 6th. Finally, Zacks Research raised Air Lease from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Air Lease has an average rating of “Hold” and a consensus price target of $59.60.

Air Lease Company Profile

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.