Jennison Associates LLC cut its holdings in shares of Hamilton Lane Incorporated (NASDAQ:HLNE - Free Report) by 24.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,597 shares of the company's stock after selling 42,755 shares during the quarter. Jennison Associates LLC owned approximately 0.24% of Hamilton Lane worth $21,823,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Hamilton Lane by 8.3% during the first quarter. Vanguard Group Inc. now owns 3,678,617 shares of the company's stock worth $414,801,000 after acquiring an additional 283,190 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Hamilton Lane by 30.3% in the 2nd quarter. American Century Companies Inc. now owns 580,768 shares of the company's stock valued at $71,772,000 after buying an additional 135,040 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Hamilton Lane by 20.2% in the third quarter. Principal Financial Group Inc. now owns 583,721 shares of the company's stock valued at $98,297,000 after buying an additional 97,924 shares in the last quarter. Capital World Investors bought a new position in shares of Hamilton Lane in the first quarter valued at $9,724,000. Finally, Fred Alger Management LLC increased its holdings in Hamilton Lane by 10.5% during the second quarter. Fred Alger Management LLC now owns 687,521 shares of the company's stock worth $84,964,000 after buying an additional 65,151 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on HLNE. JPMorgan Chase & Co. lifted their price objective on shares of Hamilton Lane from $134.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price target on Hamilton Lane from $181.00 to $215.00 and gave the stock a "market perform" rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Hamilton Lane from $139.00 to $147.00 and gave the stock a "neutral" rating in a research report on Thursday, October 3rd. UBS Group lifted their target price on Hamilton Lane from $150.00 to $185.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price target on Hamilton Lane from $156.00 to $170.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $180.33.
Check Out Our Latest Analysis on HLNE
Hamilton Lane Stock Performance
Shares of NASDAQ HLNE traded up $1.38 during trading hours on Friday, reaching $199.55. 264,915 shares of the stock were exchanged, compared to its average volume of 351,294. The stock's fifty day simple moving average is $178.38 and its 200 day simple moving average is $148.43. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 43.29 and a beta of 1.18. Hamilton Lane Incorporated has a 52 week low of $93.60 and a 52 week high of $203.72. 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 (NASDAQ:HLNE - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.01. Hamilton Lane had a return on equity of 35.59% and a net margin of 28.03%. The company had revenue of $150.00 million during the quarter, compared to the consensus estimate of $151.55 million. During the same quarter last year, the firm earned $0.89 earnings per share. The company's revenue was up 18.2% on a year-over-year basis. Sell-side analysts predict that Hamilton Lane Incorporated will post 4.87 EPS for the current year.
Hamilton Lane Dividend Announcement
The firm also recently disclosed 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. This represents a $1.96 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Monday, December 16th. Hamilton Lane's dividend payout ratio is currently 42.52%.
Hamilton Lane Profile
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Free Report)
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.
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