Ameriprise Financial Inc. Trims Stake in Houlihan Lokey, Inc. $HLI

Key Points

• Ameriprise Financial Inc. reduced its position in Houlihan Lokey by 23.0%, decreasing its holdings to 595,275 shares worth approximately $96.15 million.
• Vanguard Group and other hedge funds have increased their stakes in Houlihan Lokey, with Vanguard now owning over 5.3 million shares valued at $857 million.
• Research firms upgraded Houlihan Lokey's stock rating, with Keefe, Bruyette & Woods raising its price target from $185.00 to $232.00.

Ameriprise Financial Inc. lessened its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 23.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 595,275 shares of the financial services provider's stock after selling 177,514 shares during the period. Ameriprise Financial Inc. owned 0.85% of Houlihan Lokey worth $96,149,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HLI. Bogart Wealth LLC increased its position in Houlihan Lokey by 111.1% in the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 80 shares during the period. Motco acquired a new position in Houlihan Lokey during the 1st quarter worth approximately $29,000. Brooklyn Investment Group acquired a new position in Houlihan Lokey during the 1st quarter worth approximately $33,000. TCTC Holdings LLC increased its position in Houlihan Lokey by 103.5% during the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock worth $37,000 after purchasing an additional 118 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in Houlihan Lokey by 3,714.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock worth $43,000 after purchasing an additional 260 shares during the period. Institutional investors and hedge funds own 78.07% of the company's stock.

Insider Transactions at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 500 shares of the company's 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Irwin Gold sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The disclosure for this sale can be found here. Insiders have sold 45,500 shares of company stock valued at $8,998,560 in the last quarter. 22.83% of the stock is currently owned by corporate insiders.

Houlihan Lokey Trading Down 0.7%

Shares of NYSE:HLI traded down $1.34 during trading on Friday, hitting $199.40. 585,482 shares of the stock were exchanged, compared to its average volume of 362,810. The company has a fifty day moving average price of $191.01 and a two-hundred day moving average price of $174.70. The company has a market cap of $14.02 billion, a PE ratio of 33.57 and a beta of 0.86. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $201.63.

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

Houlihan Lokey Dividend Announcement

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

Analysts Set New Price Targets

HLI has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and boosted their target price for the stock from $185.00 to $232.00 in a research report on Monday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $192.00 target price (up previously from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $206.40.

Houlihan Lokey Company Profile

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.