Federated Hermes Inc. Sells 101,647 Shares of Hamilton Lane Inc. (NASDAQ:HLNE)

Key Points

• Federated Hermes Inc. reduced its stake in Hamilton Lane Inc. by 8.3%, holding 1,120,390 shares valued at approximately $166.57 million.
• Despite a drop in share price targets from various analysts, Hamilton Lane continues to show strong earnings growth, reporting $1.21 EPS for the last quarter, exceeding estimates.
• The company recently increased its quarterly dividend to $0.54 per share, marking a rise from the previous dividend and reflecting a 1.39% yield.

Federated Hermes Inc. lessened its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,120,390 shares of the company's stock after selling 101,647 shares during the period. Federated Hermes Inc. owned approximately 2.02% of Hamilton Lane worth $166,568,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HLNE. MassMutual Private Wealth & Trust FSB boosted its holdings in Hamilton Lane by 252.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 176 shares of the company's stock worth $26,000 after purchasing an additional 126 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of Hamilton Lane during the 1st quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Hamilton Lane during the 1st quarter worth about $33,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Hamilton Lane during the 4th quarter worth about $65,000. Finally, UMB Bank n.a. raised its stake in Hamilton Lane by 270.3% in the 1st quarter. UMB Bank n.a. now owns 474 shares of the company's stock worth $70,000 after purchasing an additional 346 shares in the last quarter. Institutional investors own 97.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Wall Street Zen cut shares of Hamilton Lane from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Keefe, Bruyette & Woods reduced their target price on shares of Hamilton Lane from $162.00 to $155.00 and set a "market perform" rating on the stock in a report on Monday, June 2nd. Wells Fargo & Company boosted their target price on shares of Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat.com, Hamilton Lane presently has an average rating of "Hold" and a consensus price target of $161.29.

Hamilton Lane Stock Down 3.3%

NASDAQ HLNE traded down $5.02 on Friday, hitting $147.28. 330,836 shares of the company were exchanged, compared to its average volume of 580,433. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $149.89 and a 200-day moving average of $151.57. Hamilton Lane Inc. has a 12 month low of $123.98 and a 12 month high of $203.72. The company has a market cap of $7.89 billion, a PE ratio of 27.22 and a beta of 1.22.

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

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Friday, June 20th were issued a $0.54 dividend. This is an increase from Hamilton Lane's previous quarterly dividend of $0.49. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, June 20th. Hamilton Lane's dividend payout ratio is currently 40.07%.

Hamilton Lane Company 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.