Principal Financial Group Inc. Sells 6,055 Shares of Hamilton Lane Inc. (NASDAQ:HLNE)

Principal Financial Group Inc. lessened its position in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 536,223 shares of the company's stock after selling 6,055 shares during the period. Principal Financial Group Inc. owned 0.97% of Hamilton Lane worth $79,720,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of HLNE. GAMMA Investing LLC grew its stake in Hamilton Lane by 65.8% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $137,000 after purchasing an additional 365 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Hamilton Lane by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,773 shares of the company's stock worth $1,437,000 after buying an additional 1,084 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Hamilton Lane by 6.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,414 shares of the company's stock worth $508,000 after buying an additional 212 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Hamilton Lane by 10.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,616 shares of the company's stock valued at $686,000 after acquiring an additional 433 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Hamilton Lane by 133.6% during the 1st quarter. SG Americas Securities LLC now owns 1,974 shares of the company's stock valued at $293,000 after acquiring an additional 1,129 shares during the period. Institutional investors and hedge funds own 97.40% of the company's stock.

Analyst Ratings Changes

HLNE has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Hamilton Lane from $176.00 to $167.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Oppenheimer lowered Hamilton Lane from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Morgan Stanley reduced their price objective on Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Wells Fargo & Company lowered their target price on Hamilton Lane from $166.00 to $161.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Finally, Wall Street Zen downgraded shares of Hamilton Lane from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $164.29.

Hamilton Lane Stock Down 0.6%

Hamilton Lane stock traded down $0.92 during trading on Monday, hitting $146.10. 489,579 shares of the company were exchanged, compared to its average volume of 511,538. The company has a market capitalization of $7.82 billion, a P/E ratio of 27.11 and a beta of 1.22. The business's 50 day moving average is $153.97 and its 200 day moving average is $150.98. Hamilton Lane Inc. has a 52 week low of $123.98 and a 52 week high of $203.72. 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 released its quarterly earnings results on Thursday, May 29th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. The business had revenue of $197.97 million during the quarter, compared to analyst estimates of $165.49 million. Hamilton Lane had a return on equity of 32.94% and a net margin of 30.50%. Hamilton Lane's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. Analysts predict that Hamilton Lane Inc. will post 4.97 earnings per share for the current year.

Hamilton Lane Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 20th will be given a $0.54 dividend. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.49. This represents a $2.16 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Friday, June 20th. Hamilton Lane's dividend payout ratio is presently 40.07%.

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.