Allspring Global Investments Holdings LLC Reduces Stock Position in Hamilton Lane Inc. (NASDAQ:HLNE)

Allspring Global Investments Holdings LLC reduced its holdings in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,652 shares of the company's stock after selling 2,004 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.13% of Hamilton Lane worth $11,099,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in shares of Hamilton Lane by 10.4% in the first quarter. Janney Montgomery Scott LLC now owns 4,616 shares of the company's stock worth $686,000 after purchasing an additional 433 shares during the last quarter. SG Americas Securities LLC grew its stake in Hamilton Lane by 133.6% in the 1st quarter. SG Americas Securities LLC now owns 1,974 shares of the company's stock worth $293,000 after buying an additional 1,129 shares in the last quarter. Portside Wealth Group LLC bought a new position in shares of Hamilton Lane in the 1st quarter worth $296,000. State of Michigan Retirement System increased its holdings in shares of Hamilton Lane by 3.1% in the 4th quarter. State of Michigan Retirement System now owns 9,900 shares of the company's stock worth $1,466,000 after buying an additional 300 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Hamilton Lane during the 4th quarter valued at $24,081,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Hamilton Lane Trading Up 1.2%

Shares of NASDAQ:HLNE traded up $1.76 on Friday, reaching $146.91. 201,133 shares of the company traded hands, compared to its average volume of 510,591. The stock has a market capitalization of $7.87 billion, a P/E ratio of 27.26 and a beta of 1.22. The business's 50-day simple moving average is $154.08 and its 200 day simple moving average is $151.13. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.31. Hamilton Lane Inc. has a 52 week low of $123.98 and a 52 week high of $203.72.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $197.97 million during the quarter, compared to analysts' expectations of $165.49 million. Hamilton Lane had a return on equity of 32.94% and a net margin of 30.50%. Hamilton Lane's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 EPS. As a group, equities analysts anticipate that Hamilton Lane Inc. will post 4.97 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 20th will be issued a $0.54 dividend. This is a boost from Hamilton Lane's previous quarterly dividend of $0.49. The ex-dividend date is Friday, June 20th. This represents a $2.16 annualized dividend and a dividend yield of 1.47%. Hamilton Lane's dividend payout ratio (DPR) is currently 40.07%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Oppenheimer lowered shares of Hamilton Lane from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Wells Fargo & Company dropped their price target on Hamilton Lane from $166.00 to $161.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Morgan Stanley reduced their price objective on Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Wall Street Zen downgraded Hamilton Lane from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. cut their target price on Hamilton Lane from $176.00 to $167.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $164.29.

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.