Arizona State Retirement System Increases Stock Holdings in Hamilton Lane Incorporated (NASDAQ:HLNE)

Arizona State Retirement System raised its stake in Hamilton Lane Incorporated (NASDAQ:HLNE) by 4.0% during the 4th quarter, HoldingsChannel reports. The firm owned 9,709 shares of the company’s stock after acquiring an additional 370 shares during the period. Arizona State Retirement System’s holdings in Hamilton Lane were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC grew its stake in shares of Hamilton Lane by 228.5% in the 3rd quarter. FMR LLC now owns 61,672 shares of the company’s stock valued at $5,578,000 after purchasing an additional 42,898 shares during the last quarter. Barclays PLC grew its stake in shares of Hamilton Lane by 28.3% in the 3rd quarter. Barclays PLC now owns 95,815 shares of the company’s stock valued at $8,665,000 after purchasing an additional 21,123 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Hamilton Lane in the 3rd quarter valued at approximately $803,000. Ziegler Capital Management LLC acquired a new stake in shares of Hamilton Lane in the 3rd quarter valued at approximately $202,000. Finally, NBC Securities Inc. acquired a new stake in shares of Hamilton Lane in the 3rd quarter valued at approximately $827,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on HLNE shares. Morgan Stanley raised their price target on Hamilton Lane from $102.00 to $126.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. cut Hamilton Lane from an “overweight” rating to a “neutral” rating and set a $115.00 price objective for the company. in a report on Thursday, April 11th. Oppenheimer cut Hamilton Lane from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Wells Fargo & Company lifted their price objective on Hamilton Lane from $106.00 to $111.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, UBS Group boosted their price target on Hamilton Lane from $118.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday. Six research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $109.67.

Hamilton Lane Stock Performance

NASDAQ HLNE opened at $110.19 on Tuesday. Hamilton Lane Incorporated has a fifty-two week low of $62.86 and a fifty-two week high of $121.90. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 33.90 and a beta of 1.18. The business has a fifty day moving average of $112.40 and a 200-day moving average of $104.53. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.32.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.17). The business had revenue of $125.26 million during the quarter, compared to analysts’ expectations of $130.47 million. Hamilton Lane had a net margin of 25.22% and a return on equity of 28.77%. Hamilton Lane’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. As a group, analysts predict that Hamilton Lane Incorporated will post 3.55 earnings per share for the current fiscal year.

Hamilton Lane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Thursday, March 14th. Hamilton Lane’s dividend payout ratio is currently 54.77%.

Insider Activity

In other news, major shareholder Oakville Number 2 Trust sold 55,000 shares of Hamilton Lane stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $108.00, for a total value of $5,940,000.00. Following the completion of the sale, the insider now owns 480,015 shares of the company’s stock, valued at $51,841,620. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company 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.