Houlihan Lokey, Inc. (HLI) To Go Ex-Dividend on June 2nd

Houlihan Lokey, Inc. (NYSE:HLI) declared a quarterly dividend on Thursday, May 8th, Wall Street Journal reports. Shareholders of record on Monday, June 2nd will be given a dividend of 0.60 per share by the financial services provider on Sunday, June 15th. This represents a $2.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Monday, June 2nd. This is a 5.3% increase from Houlihan Lokey’s previous quarterly dividend of $0.57.

Houlihan Lokey has raised its dividend payment by an average of 11.7% per year over the last three years and has raised its dividend every year for the last 9 years. Houlihan Lokey has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Houlihan Lokey to earn $7.25 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 33.1%.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock opened at $174.81 on Friday. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 33.36 and a beta of 0.82. The stock’s 50-day moving average is $163.30 and its 200-day moving average is $171.59. Houlihan Lokey has a one year low of $127.14 and a one year high of $192.10.

Houlihan Lokey (NYSE:HLI) last released its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. Houlihan Lokey had a return on equity of 20.04% and a net margin of 16.00%. The firm had revenue of $666.42 million for the quarter, compared to analysts’ expectations of $628.25 million. During the same quarter in the previous year, the business posted $1.27 EPS. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, equities analysts expect that Houlihan Lokey will post 5.98 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on HLI shares. Wells Fargo & Company boosted their price objective on shares of Houlihan Lokey from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley reduced their price objective on shares of Houlihan Lokey from $190.00 to $156.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods raised their price objective on Houlihan Lokey from $183.00 to $185.00 and gave the company a “market perform” rating in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.00.

Insider Buying and Selling

In related news, Chairman Scott L. Beiser sold 8,008 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $178.71, for a total value of $1,431,109.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Houlihan Lokey

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of Houlihan Lokey by 14.4% during the 1st quarter. Royal Bank of Canada now owns 49,584 shares of the financial services provider’s stock worth $8,008,000 after acquiring an additional 6,253 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Houlihan Lokey by 50.0% during the 1st quarter. AQR Capital Management LLC now owns 29,654 shares of the financial services provider’s stock valued at $4,598,000 after purchasing an additional 9,891 shares during the last quarter. Millennium Management LLC bought a new position in Houlihan Lokey during the first quarter worth $18,964,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Houlihan Lokey by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 415,743 shares of the financial services provider’s stock valued at $67,143,000 after purchasing an additional 22,553 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.