Fifth Third Bancorp Purchases 18,250 Shares of Hamilton Lane Inc. $HLNE

Fifth Third Bancorp lifted its position in Hamilton Lane Inc. (NASDAQ:HLNE) by 5,497.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,582 shares of the company’s stock after acquiring an additional 18,250 shares during the quarter. Fifth Third Bancorp’s holdings in Hamilton Lane were worth $1,847,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Hamilton Lane by 6.0% in the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the company’s stock worth $7,800,000 after purchasing an additional 2,948 shares during the period. Jones Financial Companies Lllp lifted its holdings in Hamilton Lane by 4,806.7% during the first quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company’s stock worth $759,000 after buying an additional 4,999 shares during the period. Geneos Wealth Management Inc. boosted its position in Hamilton Lane by 196.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after acquiring an additional 254 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Hamilton Lane by 26.7% in the 2nd quarter. First Trust Advisors LP now owns 31,483 shares of the company’s stock valued at $4,474,000 after acquiring an additional 6,636 shares during the period. Finally, Amundi lifted its stake in shares of Hamilton Lane by 39,766.7% during the 2nd quarter. Amundi now owns 2,392 shares of the company’s stock worth $347,000 after purchasing an additional 2,386 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insider Activity

In other news, COO Andrea Anigati Kramer purchased 1,283 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the transaction, the chief operating officer owned 87,350 shares of the company’s stock, valued at $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Hartley R. Rogers bought 38,290 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the purchase, the chairman owned 93,756 shares in the company, valued at $7,358,908.44. The trade was a 69.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 95,039 shares of company stock worth $8,100,739. 22.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on HLNE. JPMorgan Chase & Co. reduced their target price on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Oppenheimer decreased their target price on shares of Hamilton Lane from $176.00 to $174.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Morgan Stanley reduced their price target on Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods decreased their price target on Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Hamilton Lane currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.71.

Hamilton Lane Trading Down 3.7%

Shares of HLNE opened at $81.14 on Thursday. The firm has a market cap of $4.51 billion, a P/E ratio of 13.73 and a beta of 1.16. Hamilton Lane Inc. has a 12 month low of $71.88 and a 12 month high of $161.13. The stock’s 50 day moving average is $82.62 and its two-hundred day moving average is $103.34.

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

Hamilton Lane announced that its board has initiated a stock buyback program on Thursday, May 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Hamilton Lane Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $2.40 dividend on an annualized basis and a yield of 3.0%. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s dividend payout ratio is 40.61%.

Hamilton Lane Company Profile

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.