Raymond James Financial Inc. Has $33.49 Million Stock 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. boosted its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 38.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 225,254 shares of the company's stock after buying an additional 62,596 shares during the quarter. Raymond James Financial Inc. owned about 0.41% of Hamilton Lane worth $33,488,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Hamilton Lane by 65.8% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $137,000 after purchasing an additional 365 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Hamilton Lane in the first quarter valued at about $225,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Hamilton Lane by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,773 shares of the company's stock valued at $1,437,000 after purchasing an additional 1,084 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Hamilton Lane by 6.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,414 shares of the company's stock valued at $508,000 after purchasing an additional 212 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Hamilton Lane by 11.3% in the first quarter. New York State Teachers Retirement System now owns 7,880 shares of the company's stock valued at $1,172,000 after purchasing an additional 800 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HLNE. JPMorgan Chase & Co. lowered their price target on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Oppenheimer downgraded Hamilton Lane from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Wall Street Zen raised Hamilton Lane from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company raised their price target on Hamilton Lane from $161.00 to $162.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods lifted their target price on Hamilton Lane from $160.00 to $168.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $163.14.

Hamilton Lane Price Performance

NASDAQ HLNE traded down $0.52 during trading on Friday, reaching $154.34. 299,723 shares of the company traded hands, compared to its average volume of 378,244. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.32 and a current ratio of 4.32. The stock's 50 day moving average price is $151.64 and its two-hundred day moving average price is $151.07. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 29.68 and a beta of 1.23. Hamilton Lane Inc. has a 1-year low of $124.10 and a 1-year 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.33. The company had revenue of $196.73 million for 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 company's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 earnings per share. As a group, analysts anticipate that Hamilton Lane Inc. will post 4.97 EPS for the current year.

Hamilton Lane Announces Dividend

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

Hamilton Lane Company 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.