Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 11.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,341 shares of the financial services provider's stock after selling 21,819 shares during the period. Principal Financial Group Inc. owned 0.25% of Houlihan Lokey worth $23,512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Houlihan Lokey in the 2nd quarter worth about $26,000. Crewe Advisors LLC grew its holdings in Houlihan Lokey by 264.5% in the second quarter. Crewe Advisors LLC now owns 226 shares of the financial services provider's stock worth $30,000 after purchasing an additional 164 shares during the period. Accent Capital Management LLC bought a new position in shares of Houlihan Lokey during the fourth quarter valued at approximately $42,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Houlihan Lokey by 194.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 401 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 265 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Houlihan Lokey in the 1st quarter worth approximately $74,000. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Christopher M. Crain sold 1,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total transaction of $155,290.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gillian Beth Zucker sold 200 shares of Houlihan Lokey stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $152.49, for a total transaction of $30,498.00. Following the transaction, the director now owns 7,001 shares in the company, valued at approximately $1,067,582.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Christopher M. Crain sold 1,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total value of $155,290.00. The disclosure for this sale can be found here. Insiders have sold 19,419 shares of company stock valued at $2,788,303 in the last ninety days. 25.97% of the stock is currently owned by company insiders.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock traded down $4.58 during trading on Tuesday, hitting $151.45. 229,243 shares of the company's stock traded hands, compared to its average volume of 327,252. Houlihan Lokey, Inc. has a 1 year low of $94.67 and a 1 year high of $157.58. The business has a 50-day simple moving average of $145.82 and a 200-day simple moving average of $135.27. The stock has a market capitalization of $10.39 billion, a P/E ratio of 36.85 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 EPS for the quarter, hitting analysts' consensus estimates of $1.22. The firm had revenue of $514.00 million during the quarter, compared to analyst estimates of $508.70 million. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The business's revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 earnings per share. On average, equities analysts predict that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 1.51%. Houlihan Lokey's dividend payout ratio is presently 55.47%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on Houlihan Lokey from $157.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley increased their price objective on shares of Houlihan Lokey from $131.00 to $148.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $154.00 target price (up from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $150.25.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.