Principal Financial Group Inc. Buys 97,924 Shares of Hamilton Lane Incorporated (NASDAQ:HLNE)

Principal Financial Group Inc. raised its stake in shares of Hamilton Lane Incorporated (NASDAQ:HLNE) by 20.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 583,721 shares of the company’s stock after acquiring an additional 97,924 shares during the quarter. Principal Financial Group Inc. owned approximately 1.05% of Hamilton Lane worth $98,297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in HLNE. FMR LLC increased its position in shares of Hamilton Lane by 239.9% during the 3rd quarter. FMR LLC now owns 5,557 shares of the company’s stock worth $936,000 after purchasing an additional 3,922 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Hamilton Lane by 13.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 45,956 shares of the company’s stock worth $5,679,000 after buying an additional 5,412 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in shares of Hamilton Lane in the third quarter valued at approximately $819,000. Retirement Systems of Alabama bought a new position in shares of Hamilton Lane in the third quarter valued at approximately $8,291,000. Finally, Royce & Associates LP acquired a new position in shares of Hamilton Lane in the 3rd quarter worth approximately $538,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Hamilton Lane Price Performance

Hamilton Lane stock opened at $150.68 on Friday. The business’s 50-day simple moving average is $183.43 and its 200 day simple moving average is $156.09. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.24. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 32.69 and a beta of 1.19. Hamilton Lane Incorporated has a 12-month low of $103.42 and a 12-month high of $203.72.

Hamilton Lane (NASDAQ:HLNE) last issued its earnings results on Wednesday, November 6th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $150.00 million for the quarter, compared to analyst estimates of $151.55 million. Hamilton Lane had a net margin of 28.03% and a return on equity of 35.59%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. As a group, research analysts anticipate that Hamilton Lane Incorporated will post 4.87 earnings per share for the current year.

Hamilton Lane Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Monday, December 16th. Hamilton Lane’s dividend payout ratio is presently 42.52%.

Analysts Set New Price Targets

HLNE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on Hamilton Lane from $134.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lowered their target price on Hamilton Lane from $215.00 to $167.00 and set a “market perform” rating for the company in a research note on Friday. Morgan Stanley upped their price target on shares of Hamilton Lane from $182.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company increased their price objective on shares of Hamilton Lane from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, The Goldman Sachs Group boosted their target price on shares of Hamilton Lane from $139.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, Hamilton Lane has a consensus rating of “Hold” and an average price target of $176.33.

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.