Diversify Wealth Management LLC Takes $1.15 Million Position in Hamilton Lane Inc. $HLNE

Diversify Wealth Management LLC bought a new position in shares of Hamilton Lane Inc. (NASDAQ:HLNE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,604 shares of the company’s stock, valued at approximately $1,153,000.

Other hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its holdings in Hamilton Lane by 27.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company’s stock valued at $61,000 after buying an additional 90 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Hamilton Lane by 1.0% during the fourth quarter. State of Michigan Retirement System now owns 9,700 shares of the company’s stock worth $1,303,000 after buying an additional 100 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Hamilton Lane by 12.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 899 shares of the company’s stock worth $121,000 after buying an additional 103 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Hamilton Lane by 81.2% in the fourth quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock valued at $32,000 after acquiring an additional 108 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Hamilton Lane by 0.3% in the second quarter. California State Teachers Retirement System now owns 37,346 shares of the company’s stock valued at $5,308,000 after acquiring an additional 111 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Zacks Research downgraded shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. BMO Capital Markets set a $94.00 target price on shares of Hamilton Lane in a research report on Monday. The Goldman Sachs Group decreased their target price 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hamilton Lane in a report on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Hamilton Lane currently has an average rating of “Moderate Buy” and an average price target of $134.57.

Hamilton Lane Stock Up 4.1%

HLNE opened at $85.79 on Thursday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 14.52 and a beta of 1.16. Hamilton Lane Inc. has a twelve month low of $71.88 and a twelve month high of $161.13. The company has a 50-day simple moving average of $82.99 and a 200 day simple moving average of $105.16.

Hamilton Lane (NASDAQ:HLNE) last released its earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate 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 net margin of 32.83% and a return on equity of 25.98%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm earned $1.21 EPS. Sell-side analysts anticipate that Hamilton Lane Inc. will post 6.33 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th were given a dividend of $0.60 per share. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, June 18th. Hamilton Lane’s dividend payout ratio (DPR) is presently 40.61%.

Hamilton Lane declared that its Board of Directors has approved a stock buyback program on Thursday, May 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Hamilton Lane

In other Hamilton Lane news, COO Andrea Anigati Kramer purchased 1,283 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $77.46 per share, with a total value of $99,381.18. Following the acquisition, the chief operating officer owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This represents a 1.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Hartley R. Rogers acquired 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the transaction, the chairman owned 55,000 shares in the company, valued at $4,952,750. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 95,039 shares of company stock valued at $8,100,739. Company insiders own 22.21% of the company’s stock.

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.