Hamilton Lane Inc. $HLNE Shares Purchased by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its Hamilton Lane stake by 1,039.7% in the first quarter, ending with 335,903 shares worth approximately $33.4 million. Institutional investors collectively own 97.4% of HLNE.
• Hamilton Lane’s latest quarterly results exceeded expectations on earnings, reporting $1.49 EPS versus the $1.43 consensus, although revenue fell 2.2% year over year and missed estimates.
• The company raised its quarterly dividend to $0.60 per share and authorized a $100 million share-repurchase program. Analysts maintain a “Moderate Buy” consensus, with an average price target of $131.71 despite several recent target-price cuts.

The Manufacturers Life Insurance Company raised its position in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 1,039.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 335,903 shares of the company's stock after acquiring an additional 306,429 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.60% of Hamilton Lane worth $33,389,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HLNE. Quarry LP lifted its stake in shares of Hamilton Lane by 2,557.1% in the 3rd quarter. Quarry LP now owns 186 shares of the company's stock valued at $25,000 after purchasing an additional 179 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Hamilton Lane during the 3rd quarter worth approximately $26,000. Parallel Advisors LLC increased its position in Hamilton Lane by 81.2% during the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company's stock worth $32,000 after purchasing an additional 108 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Hamilton Lane by 196.9% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company's stock valued at $57,000 after buying an additional 254 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in 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 buying an additional 90 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Lane Stock Performance

Shares of NASDAQ:HLNE opened at $88.91 on Friday. The company has a market cap of $4.94 billion, a P/E ratio of 15.04 and a beta of 1.16. Hamilton Lane Inc. has a one year low of $71.88 and a one year high of $161.13. The business's 50-day simple moving average is $82.63 and its 200 day simple moving average is $100.80.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The firm had revenue of $193.57 million for the quarter, compared to analyst estimates of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.Hamilton Lane's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Analysts predict that Hamilton Lane Inc. will post 6.45 earnings per share for the current year.

Hamilton Lane Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were paid a dividend of $0.60 per share. This is an increase from Hamilton Lane's previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, June 18th. Hamilton Lane's payout ratio is 40.61%.

Hamilton Lane declared that its Board of Directors has approved a share repurchase program on Thursday, May 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HLNE shares. Keefe, Bruyette & Woods reduced their price target on shares of Hamilton Lane from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Friday, July 10th. Zacks Research lowered shares of Hamilton Lane from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. The Goldman Sachs Group cut their target price on shares of Hamilton Lane from $148.00 to $128.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. JPMorgan Chase & Co. reduced their target price on shares of Hamilton Lane from $166.00 to $148.00 and set an "overweight" rating on the stock in a report on Monday, May 18th. Finally, Weiss Ratings cut shares of Hamilton Lane from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, July 20th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $131.71.

Insiders Place Their Bets

In other news, Chairman Hartley R. Rogers bought 55,000 shares of Hamilton Lane stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the transaction, the chairman owned 55,000 shares in the company, valued at approximately $4,952,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrea Anigati Kramer bought 1,283 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $77.46 per share, with a total value of $99,381.18. Following the completion of the purchase, the chief operating officer directly owned 87,350 shares of the company's stock, valued at approximately $6,766,131. This trade represents a 1.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 95,039 shares of company stock worth $8,100,739. Corporate insiders own 23.99% of the company's stock.

Hamilton Lane 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.

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