Janus Henderson Group PLC Increases Stock Holdings in Hamilton Lane Inc. $HLNE

Key Points

• Janus Henderson increased its Hamilton Lane stake by 12.9% in the first quarter, owning 905,660 shares valued at approximately $90 million. Institutional investors collectively hold 97.4% of HLNE’s outstanding shares.
• Hamilton Lane beat quarterly EPS estimates, reporting $1.49 versus $1.43 expected, although revenue fell 2.2% year over year to $193.57 million. The company also authorized a $100 million share-repurchase program and raised its quarterly dividend to $0.60 per share.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $131.71, despite several recent target reductions. Insider buying has also totaled roughly $8.1 million over the past three months.

Janus Henderson Group PLC grew its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 905,660 shares of the company's stock after purchasing an additional 103,663 shares during the quarter. Janus Henderson Group PLC owned approximately 1.62% of Hamilton Lane worth $90,045,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Wasatch Advisors LP boosted its holdings in shares of Hamilton Lane by 15.8% in the 1st quarter. Wasatch Advisors LP now owns 1,751,596 shares of the company's stock valued at $174,109,000 after buying an additional 239,397 shares in the last quarter. Invesco Ltd. raised its stake in Hamilton Lane by 7.3% during the 3rd quarter. Invesco Ltd. now owns 1,534,836 shares of the company's stock worth $206,880,000 after acquiring an additional 104,977 shares in the last quarter. State Street Corp raised its stake in Hamilton Lane by 1.4% during the 4th quarter. State Street Corp now owns 1,293,854 shares of the company's stock worth $174,458,000 after acquiring an additional 18,296 shares in the last quarter. Principal Financial Group Inc. lifted its position in Hamilton Lane by 1.7% in the first quarter. Principal Financial Group Inc. now owns 1,103,913 shares of the company's stock valued at $109,725,000 after acquiring an additional 18,063 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Hamilton Lane by 418.8% in the third quarter. Millennium Management LLC now owns 1,060,511 shares of the company's stock valued at $142,946,000 after acquiring an additional 856,112 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Hamilton Lane Stock Performance

Shares of HLNE opened at $88.91 on Friday. The stock has a market capitalization of $4.94 billion, a P/E ratio of 15.04 and a beta of 1.16. The company's fifty day moving average is $82.63 and its two-hundred day moving average is $100.80. Hamilton Lane Inc. has a 1 year low of $71.88 and a 1 year high of $161.13.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced 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. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The company had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. During the same quarter in the prior year, the firm earned $1.21 EPS. Hamilton Lane's quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts predict that Hamilton Lane Inc. will post 6.45 EPS for the current year.

Hamilton Lane announced that its board has approved a stock repurchase plan on Thursday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Hamilton Lane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were issued a dividend of $0.60 per share. This is an increase from Hamilton Lane's previous quarterly dividend of $0.54. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, June 18th. Hamilton Lane's dividend payout ratio is currently 40.61%.

Insider Activity

In other 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 purchased at an average price of $90.05 per share, for a total transaction of $4,952,750.00. Following the completion of the transaction, the chairman directly owned 55,000 shares in the company, valued at approximately $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrea Anigati Kramer acquired 1,283 shares of Hamilton Lane stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $77.46 per share, with a total value of $99,381.18. Following the transaction, the chief operating officer owned 87,350 shares of the company's stock, valued at $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 95,039 shares of company stock valued at $8,100,739 over the last three months. 23.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Hamilton Lane from $148.00 to $128.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Weiss Ratings downgraded Hamilton Lane from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, July 20th. Morgan Stanley decreased their target price on Hamilton Lane from $141.00 to $123.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 21st. Oppenheimer dropped their price target on Hamilton Lane from $176.00 to $174.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Finally, BMO Capital Markets set a $94.00 price target on Hamilton Lane in a research report on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $131.71.

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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