Fifth Third Bancorp lifted its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE – Free Report) by 5,497.0% in the first quarter, HoldingsChannel.com reports. The firm owned 18,582 shares of the company’s stock after acquiring an additional 18,250 shares during the quarter. Fifth Third Bancorp’s holdings in Hamilton Lane were worth $1,847,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of HLNE. Millennium Management LLC raised its stake in shares of Hamilton Lane by 418.8% in the 3rd quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock valued at $142,946,000 after acquiring an additional 856,112 shares during the period. Principal Financial Group Inc. raised its position in Hamilton Lane by 148.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock valued at $145,844,000 after purchasing an additional 648,588 shares during the period. Norges Bank purchased a new position in shares of Hamilton Lane during the fourth quarter worth $68,657,000. Balyasny Asset Management L.P. grew its stake in shares of Hamilton Lane by 117.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock valued at $101,558,000 after buying an additional 409,013 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Hamilton Lane in the 4th quarter valued at $48,820,000. Institutional investors and hedge funds own 97.40% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. Oppenheimer dropped their price target on shares of Hamilton Lane from $176.00 to $174.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Keefe, Bruyette & Woods reduced their price objective on Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. BMO Capital Markets set a $94.00 target price on Hamilton Lane in a research note on Monday, July 13th. Finally, Morgan Stanley decreased their price objective on Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hamilton Lane has an average rating of “Moderate Buy” and an average target price of $131.71.
Hamilton Lane Trading Down 3.7%
Shares of NASDAQ HLNE opened at $81.14 on Thursday. Hamilton Lane Inc. has a twelve month low of $71.88 and a twelve month high of $161.13. The stock has a 50 day moving average of $82.62 and a two-hundred day moving average of $103.34. The stock has a market cap of $4.51 billion, a P/E ratio of 13.73 and a beta of 1.16.
Hamilton Lane (NASDAQ:HLNE – Get Free Report) last announced its earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The business had revenue of $193.57 million for the quarter, compared to analysts’ expectations of $203.05 million. During the same period in the previous year, the company posted $1.21 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts predict that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.
Hamilton Lane Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were issued a dividend of $0.60 per share. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, June 18th. Hamilton Lane’s dividend payout ratio is 40.61%.
Hamilton Lane announced that its board has approved a share repurchase program on Thursday, May 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Insider Activity
In other news, COO Andrea Anigati Kramer purchased 1,283 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $77.46 per share, with a total value of $99,381.18. Following the completion of the acquisition, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This trade represents a 1.49% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Hartley R. Rogers acquired 55,000 shares of Hamilton Lane stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the transaction, the chairman owned 55,000 shares of the company’s stock, valued at $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 95,039 shares of company stock worth $8,100,739 in the last 90 days. 22.21% of the stock is currently owned by insiders.
Hamilton Lane Company Profile
Hamilton Lane is a global private markets investment management firm specializing in the full spectrum of private equity and credit strategies. The company partners with institutional investors and wealth managers to design, implement and manage customized portfolios in primary fund investing, secondary market transactions and direct co-investment opportunities. By combining investment selection, portfolio construction and ongoing monitoring, Hamilton Lane seeks to optimize risk-adjusted returns across diverse private markets exposures.
Founded in 1991, Hamilton Lane has developed a track record of investment and advisory services in private markets.
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