Legal & General Group Plc Sells 8,278 Shares of Hamilton Lane Inc. $HLNE

by · The Markets Daily

Legal & General Group Plc reduced its position in Hamilton Lane Inc. (NASDAQ:HLNE – Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,772 shares of the company’s stock after selling 8,278 shares during the quarter. Legal & General Group Plc owned about 0.15% of Hamilton Lane worth $11,117,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP increased its holdings in Hamilton Lane by 2,557.1% in the 3rd quarter. Quarry LP now owns 186 shares of the company’s stock valued at $25,000 after buying an additional 179 shares during the period. Advisory Services Network LLC bought a new position in Hamilton Lane in the 3rd quarter valued at about $26,000. Cornerstone Planning Group LLC increased its holdings in Hamilton Lane by 347.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $27,000 after buying an additional 153 shares during the period. Hantz Financial Services Inc. increased its holdings in Hamilton Lane by 80.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 213 shares of the company’s stock valued at $29,000 after buying an additional 95 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Hamilton Lane by 196.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after buying an additional 254 shares during the period. 97.40% of the stock is owned by institutional investors.

Hamilton Lane Trading Down 4.7%

Shares of Hamilton Lane stock opened at $80.83 on Thursday. The firm has a market capitalization of $4.49 billion, a PE ratio of 13.68 and a beta of 1.14. The firm’s 50 day moving average is $93.48 and its 200 day moving average is $115.31. Hamilton Lane Inc. has a 1 year low of $76.79 and a 1 year high of $161.13.

Hamilton Lane (NASDAQ:HLNE – Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. The company had revenue of $193.57 million for the quarter, compared to analyst estimates of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.21 EPS. As a group, research analysts anticipate that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.

Hamilton Lane announced that its board has approved a stock repurchase 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 often an indication that the company’s board of directors believes its shares are undervalued.

Hamilton Lane Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be issued a dividend of $0.60 per share. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $2.40 annualized dividend and a dividend yield of 3.0%. Hamilton Lane’s payout ratio is presently 36.55%.

Insider Activity

In related news, Chairman Hartley R. Rogers purchased 466 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of $92.76 per share, with a total value of $43,226.16. Following the acquisition, the chairman owned 55,466 shares of the company’s stock, valued at $5,145,026.16. This trade represents a 0.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 22.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on HLNE. JPMorgan Chase & Co. decreased their target price on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Oppenheimer raised their target price on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Zacks Research lowered shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. The Goldman Sachs Group set a $148.00 target price on shares of Hamilton Lane and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, BMO Capital Markets decreased their price target on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $150.00.

View Our Latest Research Report on HLNE

About Hamilton Lane

(Free Report)

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.

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