T. Rowe Price Investment Management Inc. Purchases 494,637 Shares of Hamilton Lane Inc. $HLNE

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its stake in Hamilton Lane Inc. by 63.4% during Q1, now owning about 2.30% of the company, worth approximately $189.6 million.
• Several hedge funds have also adjusted their positions, with MassMutual Private Wealth & Trust FSB increasing their holdings by 252.0%.
• Hamilton Lane plans to pay a quarterly dividend of $0.54 on October 6th, resulting in an annualized yield of 1.4%.

T. Rowe Price Investment Management Inc. grew its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 63.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,275,000 shares of the company's stock after purchasing an additional 494,637 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.30% of Hamilton Lane worth $189,555,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HLNE. GAMMA Investing LLC raised its position in shares of Hamilton Lane by 65.8% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $137,000 after buying an additional 365 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Hamilton Lane during the first quarter valued at about $225,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 acquiring an additional 1,084 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in 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 period. Finally, New York State Teachers Retirement System increased its stake 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 buying an additional 800 shares during the period. Institutional investors own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

HLNE has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Hamilton Lane from $160.00 to $168.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company lifted their target price 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. Oppenheimer cut shares of Hamilton Lane from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. decreased their target price on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised Hamilton Lane from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $163.14.

Hamilton Lane Price Performance

Hamilton Lane stock traded down $0.95 during midday trading on Tuesday, hitting $153.36. 58,441 shares of the company's stock were exchanged, compared to its average volume of 558,671. The company has a market cap of $8.54 billion, a P/E ratio of 29.49 and a beta of 1.23. 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 has a 50-day moving average price of $150.21 and a two-hundred day moving average price of $151.12. 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 results on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.33. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%.The firm had revenue of $196.73 million for the quarter, compared to analysts' expectations of $166.96 million. During the same quarter last year, the firm posted $1.47 EPS. The company's revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that Hamilton Lane Inc. will post 4.97 earnings per share for the current year.

Hamilton Lane Announces Dividend

The business 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 of this dividend is Friday, September 19th. Hamilton Lane's payout ratio is currently 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.