Legal & General Group Plc Has $11.12 Million Stock Holdings in Hamilton Lane Inc. $HLNE

Legal & General Group Plc cut its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,772 shares of the company’s stock after selling 8,278 shares during the period. Legal & General Group Plc’s holdings in Hamilton Lane were worth $11,117,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HLNE. Royal Bank of Canada boosted its position in Hamilton Lane by 6.0% during the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the company’s stock worth $7,800,000 after buying an additional 2,948 shares during the period. Jones Financial Companies Lllp boosted its position in Hamilton Lane by 4,806.7% during the 1st quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company’s stock worth $759,000 after buying an additional 4,999 shares during the period. Geneos Wealth Management Inc. boosted its position in Hamilton Lane by 196.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock worth $57,000 after buying an additional 254 shares during the period. First Trust Advisors LP boosted its position in Hamilton Lane by 26.7% during the 2nd quarter. First Trust Advisors LP now owns 31,483 shares of the company’s stock worth $4,474,000 after buying an additional 6,636 shares during the period. Finally, Amundi boosted its position in Hamilton Lane by 39,766.7% during the 2nd quarter. Amundi now owns 2,392 shares of the company’s stock worth $347,000 after buying an additional 2,386 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Hartley R. Rogers purchased 466 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was purchased at an average cost of $92.76 per share, with a total value of $43,226.16. Following the completion of the purchase, the chairman owned 55,466 shares in the company, valued at approximately $5,145,026.16. This trade represents a 0.85% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.21% of the company’s stock.

Analyst Ratings Changes

HLNE has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. Zacks Research downgraded shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. BMO Capital Markets dropped their price target on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. The Goldman Sachs Group set a $148.00 price target on shares of Hamilton Lane and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, Oppenheimer boosted their price target on shares of Hamilton Lane from $171.00 to $179.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Hamilton Lane currently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Hamilton Lane Stock Performance

Shares of NASDAQ HLNE opened at $80.83 on Thursday. The company has a market capitalization of $4.49 billion, a P/E ratio of 13.68 and a beta of 1.14. Hamilton Lane Inc. has a 52-week low of $76.79 and a 52-week high of $161.13. The company’s 50 day moving average price is $93.48 and its 200-day moving average price is $115.31.

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

Hamilton Lane declared that its Board of Directors has authorized a stock 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Thursday, June 18th. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s dividend payout ratio is presently 36.55%.

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.