Hamilton Lane Inc. $HLNE Shares Purchased by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Hamilton Lane stake by 22.3% in the third quarter, bringing its holdings to 128,545 shares valued at approximately $11.2 million. Institutional investors and hedge funds collectively own 97.4% of the stock.
• Analysts maintain a generally positive view, with one Strong Buy, seven Buy and two Hold ratings. The stock has an average “Moderate Buy” rating and a consensus price target of $126.62.
• Hamilton Lane reported quarterly EPS of $1.94, beating estimates by $0.41, while revenue rose 56.5% year over year to $275.33 million. The company also declared a quarterly dividend of $0.60, equivalent to a 2.8% annual yield.

Congress Asset Management Co. increased its holdings in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 22.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,545 shares of the company's stock after buying an additional 23,447 shares during the quarter. Congress Asset Management Co. owned about 0.23% of Hamilton Lane worth $11,165,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HLNE. IFP Advisors Inc increased its stake in shares of Hamilton Lane by 332.0% during the second quarter. IFP Advisors Inc now owns 419 shares of the company's stock valued at $33,000 after acquiring an additional 322 shares during the period. Harbor Investment Advisory LLC acquired a new stake in Hamilton Lane in the second quarter worth approximately $58,000. Blue Trust Inc. acquired a new stake in Hamilton Lane in the first quarter worth approximately $75,000. Allworth Financial LP boosted its stake in Hamilton Lane by 592.9% during the 2nd quarter. Allworth Financial LP now owns 1,171 shares of the company's stock valued at $92,000 after purchasing an additional 1,002 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Hamilton Lane by 29.5% during the 1st quarter. International Assets Investment Management LLC now owns 1,503 shares of the company's stock valued at $146,000 after purchasing an additional 342 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on HLNE. Wells Fargo & Company initiated coverage on shares of Hamilton Lane in a research note on Friday, October 2nd. They set an "overweight" rating and a $103.00 target price for the company. BMO Capital Markets set a $94.00 price target on Hamilton Lane in a report on Monday, July 13th. Weiss Ratings upgraded Hamilton Lane from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 31st. Oppenheimer reduced their price objective on Hamilton Lane from $182.00 to $181.00 and set an "outperform" rating for the company in a research note on Thursday, August 27th. Finally, Morgan Stanley decreased their target price on Hamilton Lane from $141.00 to $123.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $126.62.

Hamilton Lane Stock Performance

Shares of NASDAQ HLNE opened at $86.50 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.49 and a quick ratio of 3.49. Hamilton Lane Inc. has a one year low of $71.88 and a one year high of $155.66. The business's 50-day moving average price is $96.83 and its two-hundred day moving average price is $91.44. The company has a market capitalization of $4.80 billion, a P/E ratio of 13.19 and a beta of 1.23.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.53 by $0.41. Hamilton Lane had a net margin of 32.14% and a return on equity of 25.10%. The company had revenue of $275.33 million for the quarter, compared to analyst estimates of $221.94 million. During the same quarter in the prior year, the business posted $1.47 EPS. Hamilton Lane's quarterly revenue was up 56.5% on a year-over-year basis. Analysts anticipate that Hamilton Lane Inc. will post 7.25 earnings per share for the current fiscal year.

Hamilton Lane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Monday, September 21st were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, September 21st. Hamilton Lane's dividend payout ratio (DPR) is currently 36.59%.

Hamilton Lane Company Profile

Hamilton Lane Incorporated NASDAQ: HLNE is a global investment management firm focused on private markets. The company provides investment solutions and advisory services to institutional investors, family offices, financial intermediaries and private wealth clients seeking exposure to alternative investments.

Its offerings include customized separate accounts, commingled funds, evergreen funds, secondary investments, direct and co-investments, and other private-market strategies. Hamilton Lane also provides portfolio management, investment research, due diligence, monitoring, reporting and data-driven technology designed to help clients evaluate and manage private-market portfolios.

Founded in 1991, Hamilton Lane serves clients across North America, Europe, Asia-Pacific and other international markets through a global network of offices.

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.