Bank of New York Mellon Corp increased its stake in Hamilton Lane Incorporated (NASDAQ:HLNE – Free Report) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,295 shares of the company’s stock after acquiring an additional 4,878 shares during the period. Bank of New York Mellon Corp owned approximately 0.43% of Hamilton Lane worth $18,419,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE grew its position in Hamilton Lane by 71.5% in the first quarter. US Bancorp DE now owns 523 shares of the company’s stock worth $39,000 after acquiring an additional 218 shares in the last quarter. FMR LLC boosted its position in shares of Hamilton Lane by 44.6% during the second quarter. FMR LLC now owns 600 shares of the company’s stock valued at $40,000 after buying an additional 185 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Hamilton Lane by 321.4% during the first quarter. PNC Financial Services Group Inc. now owns 611 shares of the company’s stock valued at $48,000 after buying an additional 466 shares during the period. State of Wyoming boosted its position in shares of Hamilton Lane by 21.0% during the fourth quarter. State of Wyoming now owns 1,171 shares of the company’s stock valued at $75,000 after buying an additional 203 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Hamilton Lane by 44.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 1,471 shares of the company’s stock valued at $109,000 after buying an additional 456 shares during the period. Hedge funds and other institutional investors own 67.13% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on HLNE shares. Oppenheimer boosted their target price on Hamilton Lane from $93.00 to $97.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. UBS Group boosted their price target on Hamilton Lane from $75.00 to $88.00 and gave the company a “neutral” rating in a report on Wednesday, July 19th. The Goldman Sachs Group boosted their price target on Hamilton Lane from $78.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Morgan Stanley boosted their price target on Hamilton Lane from $89.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on Hamilton Lane from $102.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Hamilton Lane has an average rating of “Hold” and an average target price of $93.50.
Hamilton Lane Stock Performance
Shares of NASDAQ:HLNE opened at $89.70 on Tuesday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 29.41 and a beta of 1.09. Hamilton Lane Incorporated has a 52 week low of $62.47 and a 52 week high of $94.33. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $87.99 and a 200 day moving average of $82.76.
Hamilton Lane Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, December 14th. Hamilton Lane’s dividend payout ratio (DPR) is 58.36%.
Insider Transactions at Hamilton Lane
In other news, insider Atul Varma sold 459 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $92.25, for a total transaction of $42,342.75. Following the transaction, the insider now directly owns 8,786 shares of the company’s stock, valued at $810,508.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 26.82% of the company’s stock.
Hamilton Lane Company Profile
Hamilton Lane Incorporated is a private equity firm specializing in early venture, emerging growth, turnaround, middle market, mature, mid-venture, bridge, buyout, distressed/vulture, loan, mezzanine in growth capital companies. It prefers to invest in energy, industrials, consumer discretionary, health care, real estate, information technology, utilities, and consumer services.
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