Public Employees Retirement System of Ohio Grows Position in Houlihan Lokey, Inc. $HLI

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Houlihan Lokey, Inc. by 12.3% in the second quarter, holding approximately 0.08% of the company, valued at $9.47 million.
• Houlihan Lokey recently announced a quarterly dividend of $0.60 per share, with a payout ratio of 40.40% and an annualized dividend yield of 1.2%.
• Brokerage firms have largely upgraded Houlihan Lokey's stock ratings, with Morgan Stanley increasing its price target to $213.00, reflecting a positive outlook for the company.

Public Employees Retirement System of Ohio boosted its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,622 shares of the financial services provider's stock after acquiring an additional 5,757 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.08% of Houlihan Lokey worth $9,469,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Houlihan Lokey by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,306,604 shares of the financial services provider's stock worth $857,017,000 after acquiring an additional 41,030 shares in the last quarter. Congress Asset Management Co. purchased a new position in Houlihan Lokey in the first quarter worth $81,420,000. Goldman Sachs Group Inc. raised its position in Houlihan Lokey by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 415,743 shares of the financial services provider's stock worth $67,143,000 after acquiring an additional 22,553 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Houlihan Lokey by 3.0% in the first quarter. Natixis Advisors LLC now owns 402,763 shares of the financial services provider's stock valued at $65,046,000 after buying an additional 11,709 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of Houlihan Lokey by 12.1% in the first quarter. Jennison Associates LLC now owns 344,604 shares of the financial services provider's stock valued at $55,654,000 after buying an additional 37,300 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company's stock.

Insider Transactions at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total transaction of $98,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Irwin Gold sold 6,811 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total value of $1,380,930.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,311 shares of company stock worth $10,391,090. 22.83% of the stock is currently owned by company insiders.

Houlihan Lokey Trading Up 0.3%

Houlihan Lokey stock opened at $205.89 on Friday. The stock has a market cap of $14.48 billion, a PE ratio of 34.66 and a beta of 0.86. The stock has a 50-day moving average price of $197.44 and a 200 day moving average price of $179.44. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.45. The firm 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%.The firm's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. On average, equities analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. Houlihan Lokey's payout ratio is presently 40.40%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HLI. Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley raised their price target on Houlihan Lokey from $192.00 to $213.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and raised their price target for the company from $185.00 to $232.00 in a research report on Monday, July 14th. Finally, Wells Fargo & Company raised their price target on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Houlihan Lokey presently has an average rating of "Moderate Buy" and an average target price of $210.60.

About Houlihan Lokey

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.

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