Bank of America Corp DE Trims Holdings in Hamilton Lane Incorporated (NASDAQ:HLNE)

Bank of America Corp DE trimmed its stake in Hamilton Lane Incorporated (NASDAQ:HLNE) by 11.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 341,659 shares of the company’s stock after selling 44,357 shares during the period. Bank of America Corp DE’s holdings in Hamilton Lane were worth $50,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Hamilton Lane by 28.4% in the 4th quarter. Vanguard Group Inc. now owns 3,901,933 shares of the company’s stock valued at $577,681,000 after acquiring an additional 863,326 shares during the period. Invesco Ltd. raised its stake in shares of Hamilton Lane by 25.3% in the 4th quarter. Invesco Ltd. now owns 1,923,253 shares of the company’s stock valued at $284,738,000 after acquiring an additional 388,019 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Hamilton Lane by 229.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,292,266 shares of the company’s stock worth $191,321,000 after buying an additional 900,283 shares during the period. Geode Capital Management LLC increased its stake in Hamilton Lane by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 1,149,928 shares of the company’s stock worth $170,280,000 after buying an additional 44,865 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its stake in Hamilton Lane by 10.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 780,363 shares of the company’s stock worth $115,533,000 after buying an additional 70,976 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Hamilton Lane Trading Up 0.6%

Shares of NASDAQ:HLNE opened at $174.04 on Wednesday. Hamilton Lane Incorporated has a 52 week low of $114.28 and a 52 week high of $203.72. The company’s 50 day moving average is $147.36 and its two-hundred day moving average is $159.94. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.34. The company has a market cap of $9.65 billion, a PE ratio of 32.11 and a beta of 1.31.

Hamilton Lane Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, March 14th. Hamilton Lane’s payout ratio is 36.16%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HLNE shares. JPMorgan Chase & Co. cut their target price on shares of Hamilton Lane from $176.00 to $167.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company cut their target price on shares of Hamilton Lane from $152.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley cut their target price on shares of Hamilton Lane from $190.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods upped their target price on shares of Hamilton Lane from $158.00 to $168.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Finally, Oppenheimer raised shares of Hamilton Lane from a “market perform” rating to an “outperform” rating and set a $186.00 target price on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $164.14.

About Hamilton Lane

Hamilton Lane Incorporated is a private equity firm specializing in early venture, emerging growth, turnaround, middle market, mature, mid-venture, bridge, buyout, distressed/vulture, loan, mezzanine in growth capital companies. It prefers to invest in energy, industrials, consumer discretionary, health care, real estate, information technology, utilities, and consumer services.