Raymond James Financial Inc. Raises Holdings in Hamilton Lane Inc. $HLNE

Key Points

• Raymond James Financial Inc. increased its stake in Hamilton Lane Inc. by 38.5% during the first quarter, now holding approximately $33.5 million in shares.
• The company reported a better-than-expected earnings per share (EPS) of $1.31 for the quarter, significantly surpassing analyst estimates of $0.98.
• A quarterly dividend of $0.54 per share has been announced, with a payment date set for October 6th, indicating a dividend yield of 1.4%.

Raymond James Financial Inc. lifted its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 38.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,254 shares of the company's stock after purchasing an additional 62,596 shares during the period. Raymond James Financial Inc. owned about 0.41% of Hamilton Lane worth $33,488,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. CWM LLC increased its stake in shares of Hamilton Lane by 18.2% during the 1st quarter. CWM LLC now owns 611 shares of the company's stock worth $91,000 after purchasing an additional 94 shares in the last quarter. Lifestyle Asset Management Inc. increased its stake in shares of Hamilton Lane by 8.0% during the 1st quarter. Lifestyle Asset Management Inc. now owns 1,636 shares of the company's stock worth $243,000 after purchasing an additional 121 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Hamilton Lane by 252.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 176 shares of the company's stock worth $26,000 after purchasing an additional 126 shares in the last quarter. Securian Asset Management Inc. increased its stake in shares of Hamilton Lane by 4.4% during the 1st quarter. Securian Asset Management Inc. now owns 3,292 shares of the company's stock worth $489,000 after purchasing an additional 140 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its stake in shares of Hamilton Lane by 2.0% during the 4th quarter. Snowden Capital Advisors LLC now owns 7,411 shares of the company's stock worth $1,101,000 after purchasing an additional 142 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HLNE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on shares of Hamilton Lane from $160.00 to $168.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their target price on shares of Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Wall Street Zen raised shares of Hamilton Lane from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Oppenheimer cut shares of Hamilton Lane from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $163.14.

Hamilton Lane Stock Up 4.6%

Shares of NASDAQ HLNE opened at $156.75 on Friday. The stock has a market capitalization of $8.73 billion, a PE ratio of 30.14 and a beta of 1.23. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.29. The firm has a fifty day moving average of $149.88 and a 200-day moving average of $151.32. Hamilton Lane Inc. has a 52-week low of $124.10 and a 52-week high of $203.72.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.33. The business had revenue of $196.73 million during the quarter, compared to the consensus estimate of $166.96 million. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%.The business's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 EPS. On average, analysts anticipate that Hamilton Lane Inc. will post 4.97 EPS for the current year.

Hamilton Lane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Friday, September 19th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 19th. Hamilton Lane's dividend payout ratio is presently 41.54%.

Hamilton Lane Profile

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.

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