Fifth Third Bancorp Lowers Stake in Hamilton Lane Inc. $HLNE

Fifth Third Bancorp reduced its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 20.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 728 shares of the company’s stock after selling 190 shares during the quarter. Fifth Third Bancorp’s holdings in Hamilton Lane were worth $103,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Hamilton Lane in the first quarter worth about $432,772,000. Champlain Investment Partners LLC purchased a new stake in Hamilton Lane in the first quarter worth about $112,887,000. T. Rowe Price Investment Management Inc. lifted its stake in Hamilton Lane by 63.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,275,000 shares of the company’s stock worth $189,555,000 after acquiring an additional 494,637 shares during the period. Nuveen LLC purchased a new stake in Hamilton Lane in the first quarter worth about $24,334,000. Finally, Wellington Management Group LLP lifted its stake in Hamilton Lane by 5.5% in the first quarter. Wellington Management Group LLP now owns 1,701,963 shares of the company’s stock worth $253,031,000 after acquiring an additional 88,100 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on HLNE. Keefe, Bruyette & Woods upped their price objective on shares of Hamilton Lane from $160.00 to $168.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised shares of Hamilton Lane from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $149.00 to $162.00 in a research note on Thursday, September 18th. JPMorgan Chase & Co. lowered their price objective on shares of Hamilton Lane from $153.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Hamilton Lane from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. Finally, Zacks Research upgraded shares of Hamilton Lane from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $166.43.

Hamilton Lane Stock Performance

Shares of Hamilton Lane stock opened at $128.80 on Thursday. The company has a market capitalization of $7.17 billion, a PE ratio of 24.77 and a beta of 1.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.32 and a current ratio of 4.32. The company has a 50-day simple moving average of $150.61 and a two-hundred day simple moving average of $150.34. Hamilton Lane Inc. has a one year low of $124.10 and a one year high of $203.72.

Hamilton Lane (NASDAQ:HLNE) last announced its earnings results on Tuesday, August 5th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.33. Hamilton Lane had a net margin of 30.66% and a return on equity of 29.47%. The business had revenue of $196.73 million during the quarter, compared to the consensus estimate of $166.96 million. During the same period in the previous year, the company posted $1.47 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Research analysts expect that Hamilton Lane Inc. will post 4.97 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Friday, September 19th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 19th. Hamilton Lane’s dividend payout ratio (DPR) is presently 41.54%.

Insider Activity at Hamilton Lane

In related news, major shareholder River 5 Ltd French sold 150,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $146.51, for a total value of $21,976,500.00. Following the completion of the transaction, the insider directly owned 330,015 shares of the company’s stock, valued at $48,350,497.65. This trade represents a 31.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.21% of the stock is owned by insiders.

Hamilton Lane 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.