PNC Financial Services Group Inc. Grows Stock Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Key Points

• PNC Financial Services Group Inc. increased its stake in Houlihan Lokey, Inc. by 31.4%, acquiring a total of 16,955 shares valued at approximately $2.74 million.
• Analysts have mixed ratings for Houlihan Lokey, with price targets ranging from $192.00 to $232.00, leading to a consensus rating of "Moderate Buy" with an average target price of $206.40.
• Houlihan Lokey recently declared a quarterly dividend of $0.60 per share, which reflects a 1.3% yield and a payout ratio of 40.40%.

PNC Financial Services Group Inc. grew its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 31.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,955 shares of the financial services provider's stock after acquiring an additional 4,056 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Houlihan Lokey were worth $2,738,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC grew its stake in shares of Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after buying an additional 80 shares during the last quarter. Motco bought a new position in Houlihan Lokey in the first quarter worth approximately $29,000. TCTC Holdings LLC grew its stake in Houlihan Lokey by 103.5% in the first quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock worth $37,000 after purchasing an additional 118 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Houlihan Lokey in the first quarter worth approximately $54,000. Finally, Versant Capital Management Inc grew its stake in Houlihan Lokey by 744.2% in the first quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock worth $59,000 after purchasing an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company's stock.

Insiders Place Their Bets

In other Houlihan Lokey news, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total transaction of $914,050.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total value of $86,510.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,508 shares of company stock valued at $2,431,670 in the last 90 days. 22.83% of the stock is owned by insiders.

Houlihan Lokey Stock Up 1.6%

Shares of NYSE HLI traded up $2.96 during midday trading on Tuesday, reaching $193.41. 458,465 shares of the stock were exchanged, compared to its average volume of 405,582. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 32.56 and a beta of 0.86. Houlihan Lokey, Inc. has a twelve month low of $137.99 and a twelve month high of $198.78. The firm has a 50-day simple moving average of $184.99 and a two-hundred day simple moving average of $173.32.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.45. The company had revenue of $605.35 million during the quarter, compared to analysts' expectations of $573.07 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%. Houlihan Lokey's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Research analysts expect that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Houlihan Lokey's payout ratio is 40.40%.

Analysts Set New Price Targets

HLI has been the topic of several recent research reports. Wells Fargo & Company increased their target price on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Wall Street Zen cut shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley reiterated an "overweight" rating and set a $192.00 target price (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Finally, Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price target for the company from $185.00 to $232.00 in a report on Monday, July 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $206.40.

Houlihan Lokey Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.