Allianz Asset Management GmbH Sells 1,934 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Key Points

• Allianz Asset Management GmbH reduced its stake in Houlihan Lokey, Inc. by 43.8%, selling 1,934 shares to hold 2,484 shares valued at approximately $401,000.
• Insiders, including General Counsel Christopher M. Crain and Chairman Scott L. Beiser, sold a total of 13,508 shares valued at about $2.43 million within the last three months.
• Houlihan Lokey recently announced a quarterly dividend of $0.60, with an annualized yield of 1.3%, set to be paid on September 15th.

Allianz Asset Management GmbH trimmed its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 43.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,484 shares of the financial services provider's stock after selling 1,934 shares during the period. Allianz Asset Management GmbH's holdings in Houlihan Lokey were worth $401,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HLI. Bogart Wealth LLC raised its position in shares of Houlihan Lokey by 111.1% in the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Houlihan Lokey during the 1st quarter worth approximately $54,000. Versant Capital Management Inc lifted its position in Houlihan Lokey by 744.2% in the 1st quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 320 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Houlihan Lokey by 17.5% in the 1st quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider's stock valued at $89,000 after acquiring an additional 82 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Houlihan Lokey by 101.0% during the 1st quarter. Golden State Wealth Management LLC now owns 613 shares of the financial services provider's stock valued at $99,000 after buying an additional 308 shares during the period. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Stock Up 0.1%

HLI stock traded up $0.21 during midday trading on Wednesday, hitting $192.60. 113,680 shares of the company traded hands, compared to its average volume of 405,266. The stock has a market capitalization of $13.44 billion, a price-to-earnings ratio of 32.44 and a beta of 0.86. Houlihan Lokey, Inc. has a twelve month low of $137.99 and a twelve month high of $198.78. The business has a 50 day simple moving average of $183.74 and a 200-day simple moving average of $173.26.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.45. The business had revenue of $605.35 million for the quarter, compared to analysts' expectations of $573.07 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%. Houlihan Lokey's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. Equities research analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Houlihan Lokey's dividend payout ratio (DPR) is currently 40.40%.

Insider Buying and Selling

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,008 shares of Houlihan Lokey stock in a transaction that occurred on Monday, May 19th. The stock was 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 is available through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $173.02, for a total value of $86,510.00. The disclosure for this sale can be found here. Insiders sold 13,508 shares of company stock valued at $2,431,670 over the last quarter. Insiders own 22.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HLI. Wells Fargo & Company raised their price objective on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods raised shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and upped their price objective for the company from $185.00 to $232.00 in a research note on Monday, July 14th. Morgan Stanley reiterated an "overweight" rating and set a $192.00 target price (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Finally, Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $206.40.

About Houlihan Lokey

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.