Citigroup Inc. Cuts Holdings in Hamilton Lane Inc. $HLNE

Citigroup Inc. trimmed its position in Hamilton Lane Inc. (NASDAQ:HLNE) by 27.6% in the third quarter, HoldingsChannel reports. The firm owned 124,038 shares of the company’s stock after selling 47,304 shares during the quarter. Citigroup Inc.’s holdings in Hamilton Lane were worth $16,719,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its stake in shares of Hamilton Lane by 347.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock worth $27,000 after buying an additional 153 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Hamilton Lane by 920.0% in the second quarter. Parkside Financial Bank & Trust now owns 204 shares of the company’s stock worth $29,000 after purchasing an additional 184 shares during the last quarter. Hantz Financial Services Inc. grew its stake 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 purchasing an additional 95 shares during the period. First Horizon Corp bought a new position in Hamilton Lane in the 3rd quarter valued at $31,000. Finally, Global Retirement Partners LLC increased its position in shares of Hamilton Lane by 126.4% during the 3rd quarter. Global Retirement Partners LLC now owns 317 shares of the company’s stock valued at $43,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Hamilton Lane Stock Performance

NASDAQ HLNE opened at $104.94 on Friday. The firm has a market cap of $5.85 billion, a P/E ratio of 18.84 and a beta of 1.30. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $135.39 and its 200-day moving average is $134.55. Hamilton Lane Inc. has a 12-month low of $98.00 and a 12-month high of $179.19.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings data on Tuesday, February 3rd. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.28 by $0.27. Hamilton Lane had a net margin of 30.59% and a return on equity of 27.82%. The company had revenue of $198.59 million during the quarter, compared to the consensus estimate of $195.36 million. During the same period last year, the firm earned $1.25 EPS. Hamilton Lane’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts predict that Hamilton Lane Inc. will post 4.97 earnings per share for the current year.

Hamilton Lane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Friday, March 20th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, March 20th. Hamilton Lane’s payout ratio is presently 38.78%.

Analysts Set New Price Targets

HLNE has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Hamilton Lane in a report on Thursday, January 22nd. UBS Group dropped their target price on shares of Hamilton Lane from $184.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Zacks Research raised shares of Hamilton Lane from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. Morgan Stanley set a $159.00 price target on shares of Hamilton Lane in a research note on Tuesday, January 27th. Finally, Wall Street Zen upgraded Hamilton Lane from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $169.00.

About Hamilton Lane

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.