Hamilton Lane (NASDAQ:HLNE) Sees Large Volume Increase After Dividend Announcement

Shares of Hamilton Lane Incorporated (NASDAQ:HLNE) saw strong trading volume on Monday following a dividend announcement from the company. 460,988 shares changed hands during mid-day trading, an increase of 44% from the previous session’s volume of 320,164 shares.The stock last traded at $168.43 and had previously closed at $168.75.

The newly announced dividend which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Monday, December 16th. Hamilton Lane’s dividend payout ratio (DPR) is presently 42.52%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on Hamilton Lane from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. The Goldman Sachs Group upped their price target on Hamilton Lane from $139.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. UBS Group upped their price target on Hamilton Lane from $150.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley upped their price target on Hamilton Lane from $182.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $184.33.

Hamilton Lane Stock Performance

The company has a market capitalization of $8.45 billion, a PE ratio of 33.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.37 and a current ratio of 3.37. The company has a 50 day moving average price of $183.86 and a 200 day moving average price of $156.12.

Hamilton Lane (NASDAQ:HLNE) last released its earnings results on Wednesday, November 6th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $150.00 million during the quarter, compared to analysts’ expectations of $151.55 million. Hamilton Lane had a return on equity of 35.59% and a net margin of 28.03%. The business’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 EPS. Equities analysts forecast that Hamilton Lane Incorporated will post 4.87 EPS for the current year.

Hedge Funds Weigh In On Hamilton Lane

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in Hamilton Lane by 53.7% in the third quarter. State Street Corp now owns 1,401,909 shares of the company’s stock worth $236,516,000 after purchasing an additional 489,557 shares during the period. Wellington Management Group LLP boosted its holdings in Hamilton Lane by 31.1% in the third quarter. Wellington Management Group LLP now owns 1,743,033 shares of the company’s stock worth $293,509,000 after purchasing an additional 413,015 shares during the period. American Century Companies Inc. boosted its holdings in Hamilton Lane by 30.3% in the second quarter. American Century Companies Inc. now owns 580,768 shares of the company’s stock worth $71,772,000 after purchasing an additional 135,040 shares during the period. Barclays PLC boosted its holdings in Hamilton Lane by 84.5% in the third quarter. Barclays PLC now owns 246,383 shares of the company’s stock worth $41,488,000 after purchasing an additional 112,866 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Hamilton Lane by 20.2% in the third quarter. Principal Financial Group Inc. now owns 583,721 shares of the company’s stock worth $98,297,000 after purchasing an additional 97,924 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

About Hamilton Lane

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.