Hamilton Lane (NASDAQ:HLNE – Get Free Report) posted its earnings results on Tuesday. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.33, Zacks reports. Hamilton Lane had a net margin of 32.40% and a return on equity of 23.47%. The firm had revenue of $204.43 million during the quarter, compared to analyst estimates of $215.23 million. During the same period in the previous year, the firm earned $1.54 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis.
Here are the key takeaways from Hamilton Lane’s conference call:
- Positive Sentiment: Total asset footprint reached approximately $1.1 trillion, up 7% year over year, while AUM rose 4% to $151 billion and AUA increased 8% to $929 billion. Year-to-date fee-related revenue grew 29% and fee-related earnings increased 34%.
- Positive Sentiment: Fee-earning AUM grew 12% year over year to $86 billion, led by specialized funds, whose fee-earning AUM rose 25% to more than $44 billion. The Evergreen Platform reached nearly $21 billion, with quarterly net inflows accelerating to approximately $800 million.
- Positive Sentiment: Fundraising momentum remains strong, including a $1.3 billion first close for the seventh secondary fund, a more than $370 million first close for the latest Venture fund, and new strategies in GP-led secondaries, credit, impact, and other specialized areas. Management fees have begun accruing on several of these commitments, with potential retroactive fees from subsequent closes.
- Positive Sentiment: Hamilton Lane announced a multi-year partnership with FactSet to integrate its private-markets data, benchmarks, and analytics into FactSet’s public-private portfolio platform. Management said the agreement includes a meaningful annual recurring revenue floor with additional upside as the partnership scales.
- Negative Sentiment: Management cautioned that the unusually strong 52% year-to-date FRE margin, supported by fee-related performance revenues, should not be expected consistently each quarter. The company continues to target low-50s annual FRE margins, while exit activity and fundraising conditions remain highly uneven across managers and portfolios.
Hamilton Lane Price Performance
Shares of HLNE stock traded down $5.37 on Thursday, reaching $89.62. 60,892 shares of the company were exchanged, compared to its average volume of 767,537. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 13.33 and a beta of 1.16. The business has a 50-day moving average price of $90.06 and a 200 day moving average price of $97.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.49 and a current ratio of 3.37. Hamilton Lane has a 1 year low of $71.88 and a 1 year high of $155.66.
Hamilton Lane Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Monday, December 21st will be given a $0.60 dividend. The ex-dividend date is Monday, December 21st. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Hamilton Lane’s dividend payout ratio (DPR) is 35.61%.
Analyst Upgrades and Downgrades
HLNE has been the topic of several analyst reports. Oppenheimer dropped their price target on shares of Hamilton Lane from $182.00 to $181.00 and set an “outperform” rating on the stock in a research report on Thursday, August 27th. JPMorgan Chase & Co. cut their price target on Hamilton Lane from $150.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group reduced their price target on Hamilton Lane from $131.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, October 13th. Keefe, Bruyette & Woods increased their price target on Hamilton Lane from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their price objective on Hamilton Lane from $103.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Hamilton Lane has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.
Check Out Our Latest Research Report on Hamilton Lane
Key Hamilton Lane News
Here are the key news stories impacting Hamilton Lane this week:
- Positive Sentiment: Quarterly EPS of $1.98 beat the $1.65 consensus, while fee-related earnings rose 34%. The company’s total asset footprint increased 7% year over year to $1.1 trillion, and evergreen-platform AUM climbed 42% to nearly $21 billion. Earnings call highlights
- Positive Sentiment: Hamilton Lane raised its quarterly dividend about 11% to $0.60 per share, or $2.40 annualized, marking its ninth consecutive annual increase. Dividend analysis
- Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $120 from $116 and maintained an outperform rating; Wells Fargo also lifted its target, to $114 from $103, with an overweight rating. Keefe, Bruyette & Woods price target
- Positive Sentiment: A new FactSet partnership aims to provide integrated private-markets analytics, potentially supporting Hamilton Lane’s data and distribution capabilities. FactSet partnership announcement
- Neutral Sentiment: Analyst actions were mixed: JPMorgan lowered its target to $144 from $150 but kept an overweight rating, while Oppenheimer trimmed its target by $1 to $170 and retained outperform. JPMorgan price target update
- Negative Sentiment: Quarterly revenue of $204.43 million fell short of analyst expectations of $215.23 million. Commentary also flagged uneven growth and questions about dividend resilience through a weaker private-markets cycle, tempering the earnings and dividend positives. Revenue results
About Hamilton Lane
Hamilton Lane Incorporated (NASDAQ: HLNE) is a global investment management firm specializing in private markets. The company provides investment solutions and advisory services focused on alternative assets, including private equity, private credit, venture capital, growth equity, infrastructure and real assets.
Hamilton Lane serves institutional investors, family offices, financial advisors and high-net-worth individuals. Its offerings include separately managed accounts, customized portfolios, commingled funds, evergreen vehicles and secondary-market strategies.
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