Hamilton Lane Inc. $HLNE Shares Acquired by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Hamilton Lane stake by 33.3% in the first quarter, bringing its holdings to 148,906 shares valued at approximately $14.8 million. Institutional investors collectively own 97.4% of the company.
• Hamilton Lane reported quarterly results above expectations, with EPS of $1.94 versus the $1.53 consensus and revenue of $275.33 million, up 56.5% year over year. The company also declared a $0.60 quarterly dividend and authorized a $100 million share buyback.
• Analysts maintain a generally positive outlook, with six Buy ratings and three Holds and an average price target of $131.71 compared with the reported share price of $101.03. Company insiders also purchased roughly $8.1 million of stock in the latest quarter.

Royal Bank of Canada grew its holdings in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,906 shares of the company's stock after purchasing an additional 37,167 shares during the quarter. Royal Bank of Canada owned 0.27% of Hamilton Lane worth $14,801,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HLNE. Quarry LP increased its stake in Hamilton Lane by 2,557.1% during the 3rd quarter. Quarry LP now owns 186 shares of the company's stock worth $25,000 after buying an additional 179 shares during the period. Advisory Services Network LLC purchased a new position in Hamilton Lane in the 3rd quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in shares of Hamilton Lane by 81.2% in the fourth quarter. Parallel Advisors LLC now owns 241 shares of the company's stock worth $32,000 after acquiring an additional 108 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Hamilton Lane by 196.9% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company's stock worth $57,000 after acquiring an additional 254 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Hamilton Lane by 27.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company's stock valued at $61,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Hamilton Lane Trading Up 2.6%

Shares of NASDAQ:HLNE opened at $101.03 on Friday. Hamilton Lane Inc. has a twelve month low of $71.88 and a twelve month high of $161.13. The company has a market capitalization of $5.61 billion, a PE ratio of 15.40 and a beta of 1.14. The firm has a 50 day simple moving average of $83.68 and a 200-day simple moving average of $99.01.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.41. The business had revenue of $275.33 million for the quarter, compared to analysts' expectations of $221.94 million. Hamilton Lane had a return on equity of 25.10% and a net margin of 32.14%.The business's revenue was up 56.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.47 earnings per share. As a group, equities research analysts predict that Hamilton Lane Inc. will post 6.68 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Monday, September 21st will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, September 21st. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. Hamilton Lane's dividend payout ratio is currently 40.61%.

Hamilton Lane declared that its board has authorized a share buyback program on Thursday, May 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HLNE. BMO Capital Markets set a $94.00 price target on Hamilton Lane in a report on Monday, July 13th. UBS Group upped their target price on shares of Hamilton Lane from $114.00 to $131.00 and gave the stock a "buy" rating in a research note on Wednesday. Oppenheimer raised their target price on shares of Hamilton Lane from $174.00 to $182.00 and gave the company an "outperform" rating in a report on Wednesday. The Goldman Sachs Group reduced their target price on shares of Hamilton Lane from $148.00 to $128.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Hamilton Lane from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Hamilton Lane has an average rating of "Moderate Buy" and an average price target of $131.71.

Insider Activity

In other news, Chairman Hartley R. Rogers acquired 38,290 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the transaction, the chairman directly owned 93,756 shares in the company, valued at approximately $7,358,908.44. This represents a 69.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrea Anigati Kramer bought 1,283 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the acquisition, the chief operating officer owned 87,350 shares of the company's stock, valued at approximately $6,766,131. This represents a 1.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 95,039 shares of company stock valued at $8,100,739 in the last quarter. Insiders own 23.99% of the company's stock.

Hamilton Lane Company Profile

Hamilton Lane is a global private markets investment management firm specializing in the full spectrum of private equity and credit strategies. The company partners with institutional investors and wealth managers to design, implement and manage customized portfolios in primary fund investing, secondary market transactions and direct co-investment opportunities. By combining investment selection, portfolio construction and ongoing monitoring, Hamilton Lane seeks to optimize risk-adjusted returns across diverse private markets exposures.

Founded in 1991, Hamilton Lane has developed a track record of investment and advisory services in private markets.

Want to see what other hedge funds are holding HLNE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hamilton Lane Inc. (NASDAQ:HLNE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source