Hamilton Lane Incorporated (NASDAQ:HLNE) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in shares of Hamilton Lane Incorporated (NASDAQ:HLNE - Free Report) by 38.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 15,032 shares of the company's stock after selling 9,284 shares during the quarter. Truist Financial Corp's holdings in Hamilton Lane were worth $1,705,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HLNE. Envestnet Asset Management Inc. boosted its holdings in Hamilton Lane by 40.1% in the third quarter. Envestnet Asset Management Inc. now owns 196,029 shares of the company's stock valued at $17,729,000 after purchasing an additional 56,115 shares during the last quarter. FMR LLC grew its holdings in Hamilton Lane by 228.5% during the third quarter. FMR LLC now owns 61,672 shares of the company's stock worth $5,578,000 after acquiring an additional 42,898 shares during the period. Fiera Capital Corp purchased a new position in Hamilton Lane during the third quarter valued at approximately $3,256,000. ClariVest Asset Management LLC acquired a new position in Hamilton Lane in the third quarter valued at approximately $2,827,000. Finally, Richard Bernstein Advisors LLC acquired a new position in Hamilton Lane in the third quarter valued at approximately $2,774,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Insider Activity

In related news, major shareholder Oakville Number 2 Trust sold 55,000 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $108.00, for a total value of $5,940,000.00. Following the completion of the sale, the insider now owns 480,015 shares of the company's stock, valued at $51,841,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 26.82% of the company's stock.

Wall Street Analysts Forecast Growth

HLNE has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of Hamilton Lane from $106.00 to $111.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. cut Hamilton Lane from an "overweight" rating to a "neutral" rating and set a $115.00 target price on the stock. in a research report on Thursday, April 11th. Morgan Stanley upped their price target on Hamilton Lane from $102.00 to $126.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 24th. Finally, UBS Group raised their price objective on Hamilton Lane from $118.00 to $120.00 and gave the company a "neutral" rating in a report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hamilton Lane has a consensus rating of "Hold" and a consensus target price of $109.67.

Hamilton Lane Price Performance

HLNE stock traded down $0.84 during trading on Friday, hitting $115.00. The stock had a trading volume of 413,962 shares, compared to its average volume of 164,441. The company's 50-day moving average price is $111.44 and its two-hundred day moving average price is $108.06. Hamilton Lane Incorporated has a twelve month low of $62.86 and a twelve month high of $121.90. The stock has a market capitalization of $6.21 billion, a P/E ratio of 35.38 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.58 and a quick ratio of 2.58.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.17). The firm had revenue of $125.26 million for the quarter, compared to analysts' expectations of $130.47 million. Hamilton Lane had a return on equity of 28.77% and a net margin of 25.22%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 earnings per share. As a group, research analysts predict that Hamilton Lane Incorporated will post 3.53 EPS for the current fiscal year.

Hamilton Lane Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, March 14th. Hamilton Lane's dividend payout ratio is currently 54.77%.

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.