Envestnet Asset Management Inc. Grows Position in Hamilton Lane Inc. (NASDAQ:HLNE)

Envestnet Asset Management Inc. boosted its holdings in Hamilton Lane Inc. (NASDAQ:HLNE) by 13.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 216,568 shares of the company’s stock after acquiring an additional 25,867 shares during the quarter. Envestnet Asset Management Inc. owned about 0.39% of Hamilton Lane worth $32,197,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of HLNE. Bank of New York Mellon Corp increased its position in shares of Hamilton Lane by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 359,694 shares of the company’s stock valued at $53,476,000 after buying an additional 3,468 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Hamilton Lane during the 1st quarter worth about $225,000. Oregon Public Employees Retirement Fund boosted its stake in Hamilton Lane by 3.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,869 shares of the company’s stock worth $1,319,000 after buying an additional 328 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Hamilton Lane by 11.3% in the 1st quarter. New York State Teachers Retirement System now owns 7,880 shares of the company’s stock valued at $1,172,000 after buying an additional 800 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Hamilton Lane by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,773 shares of the company’s stock valued at $1,437,000 after buying an additional 1,084 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Hamilton Lane Stock Performance

Shares of HLNE opened at $150.31 on Tuesday. The business’s 50 day moving average is $153.48 and its two-hundred day moving average is $150.94. Hamilton Lane Inc. has a 52-week low of $123.98 and a 52-week high of $203.72. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 27.89 and a beta of 1.22. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 0.31.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $197.97 million for the quarter, compared to analyst estimates of $165.49 million. Hamilton Lane had a return on equity of 32.94% and a net margin of 30.50%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. Analysts forecast that Hamilton Lane Inc. will post 4.97 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Friday, June 20th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, June 20th. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a yield of 1.44%. Hamilton Lane’s dividend payout ratio (DPR) is currently 40.07%.

Wall Street Analyst Weigh In

Several analysts have commented on HLNE shares. JPMorgan Chase & Co. lowered their price target on Hamilton Lane from $176.00 to $167.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Oppenheimer cut Hamilton Lane from an “outperform” rating to a “market perform” rating in a report on Thursday, May 15th. Wells Fargo & Company boosted their target price on Hamilton Lane from $161.00 to $162.00 and gave the stock an “equal weight” rating in a report on Friday. Keefe, Bruyette & Woods decreased their price target on Hamilton Lane from $162.00 to $155.00 and set a “market perform” rating for the company in a report on Monday, June 2nd. Finally, Morgan Stanley decreased their price target on Hamilton Lane from $190.00 to $157.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $164.43.

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.