United Services Automobile Association Takes Position in Houlihan Lokey, Inc. $HLI

Key Points

• The United Services Automobile Association acquired 3,438 shares of Houlihan Lokey, Inc. valued at approximately $544,000 in the first quarter.
• Recent analyst reports have resulted in mixed ratings for Houlihan Lokey, with Wells Fargo and Morgan Stanley increasing their target prices, while Wall Street Zen downgraded its rating.
• The company declared a quarterly dividend of $0.60 per share, representing an annual yield of 1.2%, with the ex-dividend date set for September 2nd.

United Services Automobile Association bought a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,438 shares of the financial services provider's stock, valued at approximately $544,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC acquired a new stake in shares of Houlihan Lokey in the 1st quarter valued at $619,000. New York State Teachers Retirement System raised its stake in Houlihan Lokey by 1.1% during the 1st quarter. New York State Teachers Retirement System now owns 17,926 shares of the financial services provider's stock worth $2,895,000 after acquiring an additional 200 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Houlihan Lokey during the 1st quarter worth $210,000. QRG Capital Management Inc. raised its stake in Houlihan Lokey by 9.7% during the 1st quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider's stock worth $805,000 after acquiring an additional 439 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Houlihan Lokey by 31.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,955 shares of the financial services provider's stock worth $2,738,000 after acquiring an additional 4,056 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Irwin Gold sold 5,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Paul Eric Siegert sold 40,000 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $199.95, for a total transaction of $7,998,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,500 shares of company stock valued at $9,010,160. Insiders own 22.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

Houlihan Lokey Stock Down 1.4%

Shares of HLI traded down $2.91 on Friday, hitting $205.24. 342,286 shares of the stock traded hands, compared to its average volume of 388,850. The firm has a market capitalization of $14.43 billion, a P/E ratio of 34.55 and a beta of 0.86. The stock's 50 day moving average is $194.45 and its two-hundred day moving average is $176.37. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $208.50.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The firm had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. During the same quarter in the prior year, the business posted $1.22 earnings per share. Houlihan Lokey's revenue for the quarter was up 17.8% compared to the same quarter last year. Research analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.40 annualized dividend and a yield of 1.2%. Houlihan Lokey's dividend payout ratio is 40.40%.

Houlihan Lokey Company Profile

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.