Hamilton Lane Inc. (NASDAQ:HLNE) Shares Sold by Fiera Capital Corp

Key Points

• Fiera Capital Corp reduced its stake in Hamilton Lane Inc. by 0.8%, now holding 272,646 shares valued at approximately $40.5 million.
• Hamilton Lane recently increased its quarterly dividend from $0.49 to $0.54, resulting in an annualized dividend of $2.16 and a yield of 1.39%.
• A number of analysts have lowered their target prices for Hamilton Lane, with Morgan Stanley reducing its target from $190 to $157, and several firms issuing "sell" or "hold" ratings.

Fiera Capital Corp reduced its stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 272,646 shares of the company's stock after selling 2,266 shares during the period. Fiera Capital Corp owned approximately 0.49% of Hamilton Lane worth $40,534,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Hamilton Lane by 229.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,292,266 shares of the company's stock worth $191,321,000 after buying an additional 900,283 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Hamilton Lane by 28.4% in the fourth quarter. Vanguard Group Inc. now owns 3,901,933 shares of the company's stock valued at $577,681,000 after acquiring an additional 863,326 shares during the period. Norges Bank acquired a new stake in shares of Hamilton Lane in the fourth quarter valued at approximately $68,909,000. Invesco Ltd. lifted its holdings in shares of Hamilton Lane by 25.3% during the fourth quarter. Invesco Ltd. now owns 1,923,253 shares of the company's stock worth $284,738,000 after purchasing an additional 388,019 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Hamilton Lane during the fourth quarter worth $24,081,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Lane Stock Down 3.7%

Hamilton Lane stock traded down $5.70 during midday trading on Friday, hitting $146.60. 282,770 shares of the company were exchanged, compared to its average volume of 580,162. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.83 and a quick ratio of 4.83. Hamilton Lane Inc. has a fifty-two week low of $123.98 and a fifty-two week high of $203.72. The company's fifty day moving average price is $149.89 and its 200-day moving average price is $151.57. The company has a market cap of $7.85 billion, a PE ratio of 27.20 and a beta of 1.22.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Hamilton Lane had a return on equity of 32.94% and a net margin of 30.50%. The company had revenue of $197.97 million for the quarter, compared to the consensus estimate of $165.49 million. During the same period in the previous year, the business earned $1.38 EPS. Hamilton Lane's revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts predict that Hamilton Lane Inc. will post 4.97 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Friday, June 20th were given a dividend of $0.54 per share. The ex-dividend date was Friday, June 20th. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. This is an increase from Hamilton Lane's previous quarterly dividend of $0.49. Hamilton Lane's payout ratio is presently 40.07%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HLNE shares. JPMorgan Chase & Co. cut their price objective on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Oppenheimer cut Hamilton Lane from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Keefe, Bruyette & Woods dropped their price objective on Hamilton Lane from $162.00 to $155.00 and set a "market perform" rating for the company in a research report on Monday, June 2nd. Wall Street Zen lowered Hamilton Lane from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, Morgan Stanley decreased their price target on Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $161.29.

About Hamilton Lane

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.