Hamilton Lane Inc. $HLNE Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. cut its stake in Hamilton Lane by 38.9% in the first quarter, selling 76,997 shares and leaving it with 121,023 shares valued at about $12.0 million.
• Hamilton Lane reported mixed quarterly results, posting EPS of $1.49 to beat estimates, while revenue of $193.57 million came in below expectations and was down 2.2% year over year.
• The company boosted shareholder returns by raising its quarterly dividend to $0.60 per share and authorizing a $100 million share repurchase program.

Bessemer Group Inc. lowered its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 38.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 121,023 shares of the company's stock after selling 76,997 shares during the period. Bessemer Group Inc. owned approximately 0.22% of Hamilton Lane worth $12,030,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HLNE. Quarry LP lifted its stake in Hamilton Lane by 2,557.1% during the third quarter. Quarry LP now owns 186 shares of the company's stock worth $25,000 after purchasing an additional 179 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Hamilton Lane in the third quarter valued at $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 valued at $32,000 after buying an additional 108 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Hamilton Lane by 196.9% in the 1st 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 shares of Hamilton Lane by 27.7% in the 4th 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. Institutional investors and hedge funds own 97.40% of the company's stock.

Hamilton Lane Price Performance

HLNE opened at $85.85 on Monday. Hamilton Lane Inc. has a 12 month low of $71.88 and a 12 month high of $161.13. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.53 and a beta of 1.16. The business has a fifty day moving average price of $82.87 and a 200 day moving average price of $104.43.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.06. The company 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 EPS. On average, research analysts anticipate that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.8%. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Thursday, June 18th. Hamilton Lane's dividend 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 buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on HLNE. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hamilton Lane in a research report on Wednesday, June 3rd. Morgan Stanley reduced their price target on shares of Hamilton Lane from $159.00 to $141.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their price objective on shares of Hamilton Lane from $166.00 to $148.00 and set an "overweight" rating for the company in a research note on Monday, May 18th. Zacks Research cut shares of Hamilton Lane from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Hamilton Lane from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $134.29.

Insider Activity at Hamilton Lane

In other news, Chairman Hartley R. Rogers acquired 38,290 shares of the company's stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $78.49 per share, with a total value of $3,005,382.10. Following the transaction, the chairman owned 93,756 shares in the company, valued at approximately $7,358,908.44. This trade represents a 69.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrea Anigati Kramer acquired 1,283 shares of the company's stock in a transaction on 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 completion of the transaction, the chief operating officer owned 87,350 shares in the company, valued at approximately $6,766,131. The trade was a 1.49% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 95,039 shares of company stock worth $8,100,739. 22.21% of the stock is owned by corporate insiders.

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.

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