Y Intercept Hong Kong Ltd Acquires 7,659 Shares of Air Lease Co. (NYSE:AL)

Y Intercept Hong Kong Ltd boosted its stake in shares of Air Lease Co. (NYSE:AL) by 91.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,017 shares of the transportation company’s stock after buying an additional 7,659 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Air Lease were worth $725,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Advisors LLC purchased a new stake in shares of Air Lease during the 1st quarter worth $255,000. CWM LLC boosted its holdings in shares of Air Lease by 16.5% in the 2nd quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock valued at $148,000 after buying an additional 440 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Air Lease by 381.7% in the 2nd quarter. SG Americas Securities LLC now owns 12,255 shares of the transportation company’s stock worth $582,000 after buying an additional 9,711 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Air Lease by 10.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 23,961 shares of the transportation company’s stock worth $1,139,000 after acquiring an additional 2,204 shares in the last quarter. Finally, Blue Trust Inc. purchased a new stake in Air Lease during the second quarter valued at approximately $325,000. Institutional investors own 94.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AL. JPMorgan Chase & Co. increased their price target on Air Lease from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $65.00 target price on shares of Air Lease in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Air Lease Price Performance

NYSE:AL opened at $49.42 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63. Air Lease Co. has a 52 week low of $39.15 and a 52 week high of $52.31. The stock’s 50-day moving average price is $47.23 and its 200-day moving average price is $46.30. The stock has a market capitalization of $5.50 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.61.

Air Lease Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be given a $0.22 dividend. The ex-dividend date is Thursday, December 12th. This is a boost from Air Lease’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.78%. Air Lease’s payout ratio is 19.13%.

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.