Diversify Wealth Management LLC Makes New Investment in Hamilton Lane Inc. $HLNE

Diversify Wealth Management LLC bought a new position in Hamilton Lane Inc. (NASDAQ:HLNE) in the first quarter, HoldingsChannel reports. The fund bought 11,604 shares of the company’s stock, valued at approximately $1,153,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in Hamilton Lane by 418.8% during the 3rd quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock worth $142,946,000 after purchasing an additional 856,112 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Hamilton Lane by 148.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock valued at $145,844,000 after buying an additional 648,588 shares during the period. Norges Bank acquired a new position in shares of Hamilton Lane during the 4th quarter valued at $68,657,000. Balyasny Asset Management L.P. boosted its position in shares of Hamilton Lane by 117.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock worth $101,558,000 after purchasing an additional 409,013 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Hamilton Lane in the fourth quarter worth approximately $48,820,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HLNE shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Hamilton Lane in a report on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their target price on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. Keefe, Bruyette & Woods lowered their price target on shares of Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. The Goldman Sachs Group dropped their price objective on shares of Hamilton Lane from $148.00 to $128.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, BMO Capital Markets set a $94.00 target price on Hamilton Lane in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.57.

Hamilton Lane Price Performance

Shares of Hamilton Lane stock opened at $85.79 on Thursday. Hamilton Lane Inc. has a 1 year low of $71.88 and a 1 year high of $161.13. The company has a 50 day simple moving average of $82.99 and a two-hundred day simple moving average of $105.16. The firm has a market cap of $4.76 billion, a PE ratio of 14.52 and a beta of 1.16.

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

Hamilton Lane Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th were paid a $0.60 dividend. This is a boost 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 of this dividend was Thursday, June 18th. Hamilton Lane’s payout ratio is presently 40.61%.

Hamilton Lane announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Chairman Hartley R. Rogers purchased 38,290 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $78.49 per share, with a total value of $3,005,382.10. Following the transaction, the chairman directly owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. This represents a 69.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrea Anigati Kramer bought 1,283 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the purchase, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at $6,766,131. The trade was a 1.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 95,039 shares of company stock valued at $8,100,739 over the last 90 days. 22.21% of the stock is currently owned by company insiders.

Hamilton Lane 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.