Jennison Associates LLC Decreases Stake in Hamilton Lane Incorporated (NASDAQ:HLNE)

Jennison Associates LLC lowered its position in shares of Hamilton Lane Incorporated (NASDAQ:HLNE) by 4.5% in the fourth quarter, Holdings Channel reports. The firm owned 142,207 shares of the company’s stock after selling 6,774 shares during the period. Jennison Associates LLC’s holdings in Hamilton Lane were worth $16,132,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HLNE. Ziegler Capital Management LLC purchased a new stake in shares of Hamilton Lane during the 3rd quarter worth about $202,000. Copeland Capital Management LLC grew its holdings in shares of Hamilton Lane by 0.5% during the 3rd quarter. Copeland Capital Management LLC now owns 977,161 shares of the company’s stock worth $88,374,000 after purchasing an additional 5,340 shares during the period. Argent Capital Management LLC purchased a new stake in shares of Hamilton Lane during the 3rd quarter worth about $263,000. Bank of New York Mellon Corp grew its holdings in shares of Hamilton Lane by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 233,285 shares of the company’s stock worth $21,098,000 after purchasing an additional 2,990 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hamilton Lane by 12.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,417 shares of the company’s stock worth $671,000 after acquiring an additional 795 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. cut Hamilton Lane from an “overweight” rating to a “neutral” rating and set a $115.00 price target for the company. in a report on Thursday, April 11th. UBS Group upped their price objective on shares of Hamilton Lane from $118.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley lifted their target price on Hamilton Lane from $102.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Wells Fargo & Company increased their price target on Hamilton Lane from $106.00 to $111.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Oppenheimer lowered Hamilton Lane from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $109.67.

Hamilton Lane Price Performance

HLNE stock opened at $113.38 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.32. Hamilton Lane Incorporated has a 52-week low of $62.86 and a 52-week high of $121.90. The stock’s 50 day moving average is $111.99 and its two-hundred day moving average is $105.52. The company has a market capitalization of $6.12 billion, a PE ratio of 34.89 and a beta of 1.18.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.17). Hamilton Lane had a net margin of 25.22% and a return on equity of 28.77%. The firm had revenue of $125.26 million during the quarter, compared to the consensus estimate of $130.47 million. During the same quarter last year, the firm posted $0.43 earnings per share. Hamilton Lane’s revenue was down 1.4% compared to the same quarter last year. Analysts predict that Hamilton Lane Incorporated will post 3.55 earnings per share for the current fiscal year.

Hamilton Lane Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.445 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.57%. Hamilton Lane’s dividend payout ratio (DPR) is 54.77%.

Insider Activity

In other news, major shareholder Oakville Number 2 Trust sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $108.00, for a total value of $5,940,000.00. Following the completion of the sale, the insider now directly owns 480,015 shares in the company, valued at approximately $51,841,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 26.82% of the company’s stock.

Hamilton Lane Profile

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.