Bank of America Corp DE Sells 44,357 Shares of Hamilton Lane Incorporated (NASDAQ:HLNE)

Bank of America Corp DE lowered its stake in Hamilton Lane Incorporated (NASDAQ:HLNE - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 341,659 shares of the company's stock after selling 44,357 shares during the quarter. Bank of America Corp DE owned about 0.62% of Hamilton Lane worth $50,583,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HLNE. CBIZ Investment Advisory Services LLC lifted its stake in Hamilton Lane by 27.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 287 shares of the company's stock valued at $43,000 after buying an additional 61 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Hamilton Lane by 283.3% in the fourth quarter. Farther Finance Advisors LLC now owns 299 shares of the company's stock valued at $44,000 after buying an additional 221 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Hamilton Lane in the fourth quarter valued at approximately $65,000. R Squared Ltd bought a new stake in shares of Hamilton Lane in the fourth quarter worth $213,000. Finally, Aigen Investment Management LP bought a new stake in shares of Hamilton Lane in the fourth quarter worth $221,000. Institutional investors own 97.40% of the company's stock.

Hamilton Lane Stock Performance

Shares of HLNE stock traded down $0.22 on Monday, hitting $172.52. The company's stock had a trading volume of 335,302 shares, compared to its average volume of 436,564. The company has a debt-to-equity ratio of 0.34, a quick ratio of 4.19 and a current ratio of 4.19. The stock's 50 day moving average is $149.86 and its 200-day moving average is $159.54. Hamilton Lane Incorporated has a fifty-two week low of $114.85 and a fifty-two week high of $203.72. The company has a market capitalization of $9.56 billion, a PE ratio of 31.83 and a beta of 1.31.

Hamilton Lane Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Friday, March 14th were paid a $0.49 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.96 annualized dividend and a dividend yield of 1.14%. Hamilton Lane's dividend payout ratio (DPR) is presently 36.16%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Hamilton Lane from $176.00 to $167.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Oppenheimer lowered shares of Hamilton Lane from an "outperform" rating to a "market perform" rating in a research report on Thursday. Morgan Stanley lowered 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 report on Monday, April 14th. Wells Fargo & Company lowered 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 report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Hamilton Lane from $158.00 to $168.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.