Bank of New York Mellon Corp Increases Position in Hamilton Lane Inc. $HLNE

Bank of New York Mellon Corp lifted its position in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 3.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 307,726 shares of the company’s stock after buying an additional 9,667 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.55% of Hamilton Lane worth $30,588,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. boosted its stake in Hamilton Lane by 27.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company’s stock worth $61,000 after purchasing an additional 90 shares during the period. State of Michigan Retirement System lifted its stake in Hamilton Lane by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 9,700 shares of the company’s stock worth $1,303,000 after purchasing an additional 100 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Hamilton Lane by 12.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 899 shares of the company’s stock valued at $121,000 after purchasing an additional 103 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Hamilton Lane by 81.2% during the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock valued at $32,000 after purchasing an additional 108 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Hamilton Lane by 0.3% in the second quarter. California State Teachers Retirement System now owns 37,346 shares of the company’s stock worth $5,308,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insider Transactions at Hamilton Lane

In other news, COO Andrea Anigati Kramer purchased 1,283 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $77.46 per share, with a total value of $99,381.18. Following the completion of the transaction, the chief operating officer owned 87,350 shares in the company, valued at $6,766,131. This represents a 1.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Hartley R. Rogers acquired 55,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of $90.05 per share, for a total transaction of $4,952,750.00. Following the transaction, the chairman owned 55,000 shares in the company, valued at approximately $4,952,750. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 95,039 shares of company stock valued at $8,100,739 over the last quarter. 23.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HLNE. Weiss Ratings downgraded Hamilton Lane from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. Oppenheimer cut their target price on Hamilton Lane from $176.00 to $174.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Keefe, Bruyette & Woods decreased their price target on Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. JPMorgan Chase & Co. lowered their price target on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. Finally, BMO Capital Markets set a $94.00 target price on shares of Hamilton Lane in a research note on Monday, July 13th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.71.

Hamilton Lane Stock Performance

Shares of Hamilton Lane stock opened at $83.16 on Monday. The firm has a market cap of $4.62 billion, a P/E ratio of 14.07 and a beta of 1.16. Hamilton Lane Inc. has a 12 month low of $71.88 and a 12 month high of $161.13. The stock’s fifty day moving average price is $82.45 and its 200-day moving average price is $102.51.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The firm had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. Analysts forecast that Hamilton Lane Inc. will post 6.45 earnings per share for the current year.

Hamilton Lane declared that its Board of Directors has authorized a stock buyback program on Thursday, May 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.9%. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, June 18th. Hamilton Lane’s payout ratio is presently 40.61%.

About Hamilton Lane

Hamilton Lane is a global private markets investment management firm specializing in the full spectrum of private equity and credit strategies. The company partners with institutional investors and wealth managers to design, implement and manage customized portfolios in primary fund investing, secondary market transactions and direct co-investment opportunities. By combining investment selection, portfolio construction and ongoing monitoring, Hamilton Lane seeks to optimize risk-adjusted returns across diverse private markets exposures.

Founded in 1991, Hamilton Lane has developed a track record of investment and advisory services in private markets.