Fmr LLC Raises Position in Hamilton Lane Incorporated (NASDAQ:HLNE)

Fmr LLC increased its position in shares of Hamilton Lane Incorporated (NASDAQ:HLNE) by 239.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,557 shares of the company’s stock after purchasing an additional 3,922 shares during the period. Fmr LLC’s holdings in Hamilton Lane were worth $936,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of Hamilton Lane by 102.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,119 shares of the company’s stock worth $7,934,000 after buying an additional 23,854 shares in the last quarter. Associated Banc Corp purchased a new position in Hamilton Lane in the third quarter worth $212,000. Harvest Fund Management Co. Ltd purchased a new position in Hamilton Lane in the third quarter worth $127,000. Icon Wealth Advisors LLC purchased a new stake in shares of Hamilton Lane during the 3rd quarter worth $819,000. Finally, Citigroup Inc. grew its stake in shares of Hamilton Lane by 133.9% during the 3rd quarter. Citigroup Inc. now owns 34,370 shares of the company’s stock worth $5,788,000 after purchasing an additional 19,677 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Hamilton Lane from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Morgan Stanley boosted their price target on Hamilton Lane from $182.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their price target on Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Hamilton Lane from $139.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods upped their target price on Hamilton Lane from $181.00 to $215.00 and gave the company a “market perform” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, Hamilton Lane currently has a consensus rating of “Hold” and a consensus target price of $184.33.

Hamilton Lane Stock Performance

Hamilton Lane stock opened at $167.52 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.37 and a current ratio of 3.37. Hamilton Lane Incorporated has a fifty-two week low of $103.42 and a fifty-two week high of $203.72. The stock has a fifty day moving average of $184.50 and a two-hundred day moving average of $155.88. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 36.34 and a beta of 1.19.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $150.00 million for the quarter, compared to analysts’ expectations of $151.55 million. Hamilton Lane had a net margin of 28.03% and a return on equity of 35.59%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. On average, analysts anticipate that Hamilton Lane Incorporated will post 4.87 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.96 annualized dividend and a yield of 1.17%. Hamilton Lane’s dividend payout ratio (DPR) is presently 42.52%.

About Hamilton Lane

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.