TD Asset Management Inc Grows Position in Hamilton Lane Inc. (NASDAQ:HLNE)

Key Points

• TD Asset Management Inc. has significantly increased its ownership in Hamilton Lane Inc. by 114.8%, bringing its total stake to 31,568 shares valued at approximately $4.69 million.
• The company reported a quarterly revenue increase of 12.1% year-over-year, achieving $197.97 million, while also exceeding earnings expectations with $1.21 per share.
• Hamilton Lane recently announced a dividend increase from $0.49 to $0.54 per share, resulting in an annual yield of 1.5% for investors.

TD Asset Management Inc increased its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 114.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,568 shares of the company's stock after buying an additional 16,872 shares during the period. TD Asset Management Inc owned about 0.06% of Hamilton Lane worth $4,693,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HLNE. Invesco Ltd. increased its position 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 buying an additional 388,019 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Hamilton Lane by 229.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,292,266 shares of the company's stock valued at $191,321,000 after purchasing an additional 900,283 shares in the last quarter. Geode Capital Management LLC grew its stake in Hamilton Lane by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 1,149,928 shares of the company's stock worth $170,280,000 after purchasing an additional 44,865 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Hamilton Lane by 10.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 780,363 shares of the company's stock worth $115,533,000 after purchasing an additional 70,976 shares in the last quarter. Finally, Van Berkom & Associates Inc. lifted its stake in Hamilton Lane by 7.4% in the first quarter. Van Berkom & Associates Inc. now owns 659,220 shares of the company's stock valued at $98,006,000 after buying an additional 45,605 shares during the period. 97.40% of the stock is owned by institutional investors.

Hamilton Lane Stock Up 0.4%

Shares of HLNE traded up $0.69 during trading hours on Wednesday, reaching $157.46. 276,926 shares of the stock traded hands, compared to its average volume of 579,504. Hamilton Lane Inc. has a 52 week low of $124.10 and a 52 week high of $203.72. The company has a market cap of $8.43 billion, a price-to-earnings ratio of 29.28 and a beta of 1.23. The stock has a fifty day simple moving average of $148.94 and a 200 day simple moving average of $151.72. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.31.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. The business had revenue of $196.73 million for the quarter, compared to analysts' expectations of $166.96 million. Hamilton Lane had a return on equity of 32.94% and a net margin of 30.50%. The business's revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 earnings per share. On average, equities analysts forecast that Hamilton Lane Inc. will post 4.97 EPS for the current year.

Hamilton Lane Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Friday, September 19th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. Hamilton Lane's dividend payout ratio (DPR) is presently 40.07%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HLNE. JPMorgan Chase & Co. lowered their price objective on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on Hamilton Lane from $160.00 to $168.00 and gave the company a "market perform" rating in a research note on Wednesday. Oppenheimer cut Hamilton Lane from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Morgan Stanley lowered their price objective on shares of Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Hamilton Lane from $161.00 to $162.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $163.14.

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.