Hamilton Lane Inc. $HLNE Shares Acquired by Truist Financial Corp

Key Points

• Truist Financial Corp increased its stake in Hamilton Lane Inc. by 163.6%, owning 24,745 shares valued at $3,517,000 as of its latest SEC filing.
• Hamilton Lane reported a quarterly EPS of $1.31, exceeding analysts' estimates of $0.98, with revenues of $196.73 million for the quarter.
• The company recently announced a quarterly dividend of $0.54 per share, leading to an annualized yield of 1.8% and a payout ratio of 41.54%.

Truist Financial Corp increased its stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 163.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,745 shares of the company's stock after purchasing an additional 15,357 shares during the quarter. Truist Financial Corp's holdings in Hamilton Lane were worth $3,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Hamilton Lane in the first quarter worth approximately $432,772,000. Champlain Investment Partners LLC purchased a new position in Hamilton Lane during the 1st quarter worth approximately $112,887,000. T. Rowe Price Investment Management Inc. grew its position in Hamilton Lane by 63.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,275,000 shares of the company's stock worth $189,555,000 after purchasing an additional 494,637 shares in the last quarter. Nuveen LLC purchased a new position in Hamilton Lane during the 1st quarter worth approximately $24,334,000. Finally, Janney Montgomery Scott LLC grew its position in Hamilton Lane by 2,139.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 103,360 shares of the company's stock worth $14,690,000 after purchasing an additional 98,744 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Hamilton Lane Stock Performance

HLNE stock opened at $119.80 on Thursday. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 23.04 and a beta of 1.20. Hamilton Lane Inc. has a 12 month low of $119.72 and a 12 month high of $203.72. The firm has a 50 day moving average of $147.45 and a two-hundred day moving average of $149.52.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.33. The firm had revenue of $196.73 million during the quarter, compared to analysts' expectations of $166.96 million. Hamilton Lane had a net margin of 30.66% and a return on equity of 29.47%. Hamilton Lane's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.47 earnings per share. As a group, equities analysts anticipate that Hamilton Lane Inc. will post 4.97 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Friday, September 19th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a $2.16 dividend on an annualized basis and a yield of 1.8%. Hamilton Lane's dividend payout ratio is presently 41.54%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HLNE. JPMorgan Chase & Co. lowered their price target on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Zacks Research raised Hamilton Lane from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Keefe, Bruyette & Woods lifted their target price on Hamilton Lane from $160.00 to $168.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Weiss Ratings raised shares of Hamilton Lane from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. Finally, Wall Street Zen raised shares of Hamilton Lane from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.38.

Insider Transactions at Hamilton Lane

In other news, major shareholder River 5 Ltd French sold 150,000 shares of Hamilton Lane stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $146.51, for a total value of $21,976,500.00. Following the transaction, the insider owned 330,015 shares of the company's stock, valued at $48,350,497.65. This trade represents a 31.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.21% of the stock is owned by insiders.

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.

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