Intech Investment Management LLC Sells 22,459 Shares of Hamilton Lane Inc. $HLNE

Key Points

• Intech Investment Management cut its Hamilton Lane position by 39% in the fourth quarter, selling 22,459 shares and leaving it with 35,084 shares worth about $4.7 million.
• Hamilton Lane reported better-than-expected earnings of $1.49 per share for the latest quarter, though revenue came in below forecasts and declined 2.2% year over year.
• The company boosted shareholder returns by approving a $100 million share repurchase program and raising its quarterly dividend to $0.60 per share, implying a 2.8% annualized yield.

Intech Investment Management LLC lowered its position in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 39.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,084 shares of the company's stock after selling 22,459 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Hamilton Lane worth $4,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Hamilton Lane by 27.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company's stock valued at $61,000 after acquiring an additional 90 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of Hamilton Lane by 80.5% during the third quarter. Hantz Financial Services Inc. now owns 213 shares of the company's stock valued at $29,000 after acquiring an additional 95 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Hamilton Lane by 1.0% during the fourth quarter. State of Michigan Retirement System now owns 9,700 shares of the company's stock valued at $1,303,000 after acquiring an additional 100 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Hamilton Lane by 0.3% during the second quarter. California State Teachers Retirement System now owns 37,346 shares of the company's stock valued at $5,308,000 after acquiring an additional 111 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Hamilton Lane by 33.6% during the fourth quarter. Signaturefd LLC now owns 497 shares of the company's stock valued at $67,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 97.40% of the company's stock.

Hamilton Lane Stock Down 0.0%

Shares of NASDAQ:HLNE opened at $87.11 on Monday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 14.74 and a beta of 1.15. Hamilton Lane Inc. has a 52 week low of $82.23 and a 52 week high of $179.19. The firm has a 50 day moving average of $94.45 and a 200 day moving average of $116.32.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.06. The company had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. Hamilton Lane's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 earnings per share. On average, sell-side analysts expect that Hamilton Lane Inc. will post 6.26 EPS for the current year.

Hamilton Lane declared that its Board of Directors has approved a share repurchase program on Thursday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Hamilton Lane Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis 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 is Thursday, June 18th. Hamilton Lane's payout ratio is presently 36.55%.

Insider Buying and Selling

In other Hamilton Lane news, Chairman Hartley R. Rogers acquired 55,000 shares of Hamilton Lane stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the purchase, the chairman directly owned 55,000 shares of the company's stock, valued at approximately $4,952,750. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group set a $148.00 price target on shares of Hamilton Lane and gave the company a "buy" rating in a research note on Friday, May 22nd. Oppenheimer lifted their price target on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Morgan Stanley decreased their price target on shares of Hamilton Lane from $159.00 to $141.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 21st. Finally, BMO Capital Markets decreased their price target on shares of Hamilton Lane from $108.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.

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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