NewEdge Wealth LLC Grows Stake in Hamilton Lane Inc. $HLNE

NewEdge Wealth LLC raised its position in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 56.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,833 shares of the company’s stock after purchasing an additional 9,294 shares during the period. NewEdge Wealth LLC’s holdings in Hamilton Lane were worth $2,568,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Millennium Management LLC grew its position in shares of Hamilton Lane by 418.8% during the 3rd quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock worth $142,946,000 after buying an additional 856,112 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Hamilton Lane by 148.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock worth $145,844,000 after acquiring an additional 648,588 shares during the period. Norges Bank purchased a new stake in Hamilton Lane in the fourth quarter worth about $68,657,000. Balyasny Asset Management L.P. grew its holdings in Hamilton Lane by 117.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock worth $101,558,000 after acquiring an additional 409,013 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Hamilton Lane during the 4th quarter worth about $48,820,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hamilton Lane

In other Hamilton Lane news, Chairman Hartley R. Rogers acquired 55,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrea Anigati Kramer bought 1,283 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the purchase, the chief operating officer owned 87,350 shares in the company, valued at $6,766,131. The trade was a 1.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 95,039 shares of company stock worth $8,100,739 over the last ninety days. Corporate insiders own 22.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. BMO Capital Markets set a $94.00 target price on shares of Hamilton Lane in a research report on Monday, July 13th. Weiss Ratings downgraded shares of Hamilton Lane from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. cut their price objective on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Keefe, Bruyette & Woods reduced their price objective on shares of Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Finally, Morgan Stanley lowered their target price on Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating for the company in a report on Tuesday. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Hamilton Lane currently has an average rating of “Moderate Buy” and an average price target of $131.71.

Hamilton Lane Stock Performance

Shares of Hamilton Lane stock opened at $83.16 on Friday. The company has a market capitalization of $4.62 billion, a PE ratio of 14.07 and a beta of 1.16. The company has a 50-day simple moving average of $82.45 and a two-hundred day simple moving average of $102.81. Hamilton Lane Inc. has a one year low of $71.88 and a one year high of $161.13.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts predict that Hamilton Lane Inc. will post 6.45 earnings per share for the current fiscal year.

Hamilton Lane announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was 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 yield of 2.9%. Hamilton Lane’s dividend payout ratio is currently 40.61%.

Hamilton Lane Company 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.