Principal Financial Group Inc. Acquires 18,063 Shares of Hamilton Lane Inc. $HLNE

Principal Financial Group Inc. boosted its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,103,913 shares of the company’s stock after buying an additional 18,063 shares during the period. Principal Financial Group Inc.’s holdings in Hamilton Lane were worth $109,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of HLNE. Quarry LP increased its holdings in shares of Hamilton Lane by 2,557.1% in the 3rd quarter. Quarry LP now owns 186 shares of the company’s stock valued at $25,000 after acquiring an additional 179 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Hamilton Lane during the 3rd quarter worth $26,000. Parallel Advisors LLC lifted its stake in shares of Hamilton Lane by 81.2% during the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 108 shares during the last quarter. Geneos Wealth Management Inc. boosted 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 purchasing an additional 254 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Hamilton Lane by 27.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company’s stock valued at $61,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Insider Activity

In related news, COO Andrea Anigati Kramer bought 1,283 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the purchase, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Hartley R. Rogers bought 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 transaction, the chairman owned 55,000 shares in the company, valued at $4,952,750. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 95,039 shares of company stock worth $8,100,739. Corporate insiders own 22.21% of the company’s stock.

Hamilton Lane Price Performance

Shares of HLNE stock opened at $85.79 on Thursday. Hamilton Lane Inc. has a 1-year low of $71.88 and a 1-year high of $161.13. The stock’s fifty day moving average price is $82.99 and its 200 day moving average price is $105.16. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 14.52 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 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The company had revenue of $193.57 million during the quarter, compared to analysts’ expectations of $203.05 million. During the same period last year, the business posted $1.21 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.

Hamilton Lane announced that its board has approved a stock buyback program on Thursday, May 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Hamilton Lane Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.8%. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, June 18th. Hamilton Lane’s dividend payout ratio is currently 40.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HLNE shares. Zacks Research lowered Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. BMO Capital Markets set a $94.00 price target on shares of Hamilton Lane in a report on Monday. The Goldman Sachs Group lowered their price target on shares of Hamilton Lane from $148.00 to $128.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Morgan Stanley cut their price objective on shares of 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.57.

Hamilton Lane Profile

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.