Allspring Global Investments Holdings LLC Sells 2,004 Shares of Hamilton Lane Inc. (NASDAQ:HLNE)

Allspring Global Investments Holdings LLC reduced its holdings in Hamilton Lane Inc. (NASDAQ:HLNE) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,652 shares of the company’s stock after selling 2,004 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hamilton Lane were worth $11,099,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HLNE. Price T Rowe Associates Inc. MD increased its holdings in Hamilton Lane by 229.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,292,266 shares of the company’s stock worth $191,321,000 after purchasing an additional 900,283 shares in the last quarter. Vanguard Group Inc. increased its holdings in Hamilton Lane by 28.4% in the fourth quarter. Vanguard Group Inc. now owns 3,901,933 shares of the company’s stock worth $577,681,000 after purchasing an additional 863,326 shares in the last quarter. Norges Bank bought a new stake in Hamilton Lane in the fourth quarter worth approximately $68,909,000. Invesco Ltd. increased its holdings in Hamilton Lane by 25.3% in the fourth quarter. Invesco Ltd. now owns 1,923,253 shares of the company’s stock worth $284,738,000 after purchasing an additional 388,019 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Hamilton Lane in the fourth quarter worth approximately $24,081,000. 97.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HLNE shares. Keefe, Bruyette & Woods lowered their target price on Hamilton Lane from $162.00 to $155.00 and set a “market perform” rating for the company in a report on Monday, June 2nd. Wells Fargo & Company reduced their price objective on Hamilton Lane from $166.00 to $161.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. Wall Street Zen cut Hamilton Lane from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Morgan Stanley reduced their price objective on Hamilton Lane from $190.00 to $157.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Finally, Oppenheimer cut Hamilton Lane from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $164.29.

Hamilton Lane Stock Up 1.2%

Shares of NASDAQ:HLNE opened at $146.91 on Friday. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 27.26 and a beta of 1.22. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 0.31. Hamilton Lane Inc. has a 12-month low of $123.98 and a 12-month high of $203.72. The business’s 50 day moving average is $154.08 and its 200 day moving average is $151.13.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Thursday, May 29th. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $197.97 million for the quarter, compared to analyst estimates of $165.49 million. Hamilton Lane had a return on equity of 32.94% and a net margin of 30.50%. Hamilton Lane’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. On average, sell-side analysts forecast that Hamilton Lane Inc. will post 4.97 earnings per share for the current fiscal year.

Hamilton Lane Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 20th will be issued a dividend of $0.54 per share. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.49. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, June 20th. Hamilton Lane’s dividend payout ratio (DPR) is 40.07%.

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.