Janney Montgomery Scott LLC Grows Position in Hamilton Lane Inc. $HLNE

Janney Montgomery Scott LLC grew its position in Hamilton Lane Inc. (NASDAQ:HLNE) by 65.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,238 shares of the company’s stock after purchasing an additional 14,678 shares during the period. Janney Montgomery Scott LLC’s holdings in Hamilton Lane were worth $3,701,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HLNE. Royal Bank of Canada increased its position in Hamilton Lane by 6.0% during the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the company’s stock worth $7,800,000 after purchasing an additional 2,948 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Hamilton Lane by 4,806.7% during the first quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company’s stock valued at $759,000 after buying an additional 4,999 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Hamilton Lane by 196.9% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after buying an additional 254 shares in the last quarter. First Trust Advisors LP grew its stake in Hamilton Lane by 26.7% during the second quarter. First Trust Advisors LP now owns 31,483 shares of the company’s stock worth $4,474,000 after buying an additional 6,636 shares during the period. Finally, Amundi grew its stake in Hamilton Lane by 39,766.7% during the second quarter. Amundi now owns 2,392 shares of the company’s stock worth $347,000 after buying an additional 2,386 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insider Activity

In other Hamilton Lane news, Chairman Hartley R. Rogers acquired 55,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $90.05 per share, for a total transaction of $4,952,750.00. Following the acquisition, the chairman directly owned 55,000 shares of the company’s stock, valued at $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrea Anigati Kramer bought 1,283 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the transaction, the chief operating officer owned 87,350 shares in the company, valued at $6,766,131. This represents a 1.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 95,039 shares of company stock worth $8,100,739. Insiders own 22.21% of the company’s stock.

Hamilton Lane Stock Down 1.7%

Shares of NASDAQ HLNE traded down $1.41 during trading on Tuesday, reaching $81.05. 26,007 shares of the stock were exchanged, compared to its average volume of 842,450. The business’s 50-day moving average price is $84.32 and its 200 day moving average price is $107.86. Hamilton Lane Inc. has a twelve month low of $71.88 and a twelve month high of $161.13. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 13.76 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The business had revenue of $193.57 million during the quarter, compared to analyst estimates of $203.05 million. During the same period last year, the business earned $1.21 EPS. The business’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that Hamilton Lane Inc. will post 6.33 earnings per share for the current fiscal year.

Hamilton Lane announced that its board has initiated a stock repurchase plan on Thursday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Hamilton Lane Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 18th. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.0%. Hamilton Lane’s dividend payout ratio is presently 40.61%.

Analyst Ratings Changes

Several research firms have recently issued reports on HLNE. BMO Capital Markets dropped their price objective on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Hamilton Lane in a report on Wednesday, June 3rd. Morgan Stanley cut their price objective on Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. The Goldman Sachs Group reduced their price objective on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Oppenheimer decreased their target price on Hamilton Lane from $179.00 to $176.00 and set an “outperform” rating for the company in a research report on Thursday, June 18th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hamilton Lane presently has an average rating of “Moderate Buy” and a consensus target price of $147.12.

About Hamilton Lane

Hamilton Lane is a global private markets investment management firm specializing in the full spectrum of private equity and credit strategies. The company partners with institutional investors and wealth managers to design, implement and manage customized portfolios in primary fund investing, secondary market transactions and direct co-investment opportunities. By combining investment selection, portfolio construction and ongoing monitoring, Hamilton Lane seeks to optimize risk-adjusted returns across diverse private markets exposures.

Founded in 1991, Hamilton Lane has developed a track record of investment and advisory services in private markets.