Hamilton Lane Inc. $HLNE Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 12.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,029 shares of the company’s stock after selling 8,286 shares during the quarter. California Public Employees Retirement System owned approximately 0.10% of Hamilton Lane worth $5,768,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its position in shares of Hamilton Lane by 1.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 45,022 shares of the company’s stock worth $4,368,000 after acquiring an additional 521 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Hamilton Lane by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 307,726 shares of the company’s stock valued at $30,588,000 after acquiring an additional 9,667 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of Hamilton Lane by 39.3% during the 1st quarter. Sanctuary Advisors LLC now owns 26,591 shares of the company’s stock valued at $2,643,000 after acquiring an additional 7,500 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Hamilton Lane by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,103,913 shares of the company’s stock valued at $109,725,000 after acquiring an additional 18,063 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Hamilton Lane by 29.5% during the first quarter. International Assets Investment Management LLC now owns 1,503 shares of the company’s stock worth $146,000 after purchasing an additional 342 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. Zacks Research lowered shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. BMO Capital Markets set a $94.00 price objective on shares of Hamilton Lane in a research note on Monday, July 13th. Oppenheimer decreased their target price on Hamilton Lane from $176.00 to $174.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, Keefe, Bruyette & Woods lowered their target price on Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.71.

Hamilton Lane Stock Performance

Shares of NASDAQ:HLNE opened at $83.16 on Monday. The firm’s 50 day moving average is $82.45 and its two-hundred day moving average is $102.51. Hamilton Lane Inc. has a 52 week low of $71.88 and a 52 week high of $161.13. The firm has a market capitalization of $4.62 billion, a P/E ratio of 14.07 and a beta of 1.16.

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

Hamilton Lane Increases Dividend

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

Hamilton Lane declared that its board has approved a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Hamilton Lane news, Chairman Hartley R. Rogers purchased 55,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the acquisition, the chairman owned 55,000 shares of the company’s stock, valued at approximately $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrea Anigati Kramer acquired 1,283 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the purchase, the chief operating officer owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This represents a 1.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 95,039 shares of company stock valued at $8,100,739 in the last quarter. 23.99% of the stock is currently owned by insiders.

Hamilton Lane Profile

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.