Bank of New York Mellon Corp Increases Stake in Hamilton Lane Inc. $HLNE

Bank of New York Mellon Corp increased its stake in Hamilton Lane Inc. (NASDAQ:HLNE) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 307,726 shares of the company’s stock after purchasing an additional 9,667 shares during the period. Bank of New York Mellon Corp’s holdings in Hamilton Lane were worth $30,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Sanctuary Advisors LLC grew its stake in Hamilton Lane by 39.3% during the 1st quarter. Sanctuary Advisors LLC now owns 26,591 shares of the company’s stock valued at $2,643,000 after purchasing an additional 7,500 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Hamilton Lane by 1.7% in the first quarter. Principal Financial Group Inc. now owns 1,103,913 shares of the company’s stock valued at $109,725,000 after purchasing an additional 18,063 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Hamilton Lane by 29.5% in the 1st quarter. International Assets Investment Management LLC now owns 1,503 shares of the company’s stock valued at $146,000 after buying an additional 342 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of Hamilton Lane in the 1st quarter valued at about $1,153,000. Finally, Fifth Third Bancorp boosted its stake in shares of Hamilton Lane by 5,497.0% in the first quarter. Fifth Third Bancorp now owns 18,582 shares of the company’s stock worth $1,847,000 after buying an additional 18,250 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Hartley R. Rogers purchased 55,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the transaction, the chairman owned 55,000 shares in the company, valued at $4,952,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrea Anigati Kramer acquired 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, with a total value of $99,381.18. Following the acquisition, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at $6,766,131. This trade represents a 1.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 95,039 shares of company stock worth $8,100,739 in the last three months. 23.99% of the stock is currently owned by corporate insiders.

Hamilton Lane Stock Performance

Shares of HLNE opened at $83.16 on Monday. The stock has a 50 day moving average price of $82.45 and a 200 day moving average price of $102.51. Hamilton Lane Inc. has a one year low of $71.88 and a one year high of $161.13. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 14.07 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The company had revenue of $193.57 million for the quarter, compared to analyst estimates of $203.05 million. During the same quarter last year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that Hamilton Lane Inc. will post 6.45 earnings per share for the current year.

Hamilton Lane declared that its board has authorized a stock repurchase plan on Thursday, May 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hamilton Lane Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, June 18th. Hamilton Lane’s dividend payout ratio (DPR) is currently 40.61%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Zacks Research lowered Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. BMO Capital Markets set a $94.00 price target on shares of Hamilton Lane in a report on Monday, July 13th. The Goldman Sachs Group dropped their price target on shares of Hamilton Lane from $148.00 to $128.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods cut their price objective on shares of Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. reduced their price target on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hamilton Lane presently has an average rating of “Moderate Buy” and a consensus price target of $131.71.

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.