Arizona State Retirement System Buys 194 Shares of Hamilton Lane Inc. (NASDAQ:HLNE)

Arizona State Retirement System boosted its holdings in Hamilton Lane Inc. (NASDAQ:HLNE) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,360 shares of the company’s stock after purchasing an additional 194 shares during the period. Arizona State Retirement System’s holdings in Hamilton Lane were worth $1,689,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of Hamilton Lane by 6.0% during the fourth quarter. HighTower Advisors LLC now owns 1,824 shares of the company’s stock valued at $270,000 after acquiring an additional 103 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Hamilton Lane by 2.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,407 shares of the company’s stock valued at $801,000 after acquiring an additional 108 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Hamilton Lane by 0.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,245 shares of the company’s stock valued at $1,813,000 after acquiring an additional 109 shares during the last quarter. Lifestyle Asset Management Inc. raised its stake in shares of Hamilton Lane by 8.0% during the first quarter. Lifestyle Asset Management Inc. now owns 1,636 shares of the company’s stock valued at $243,000 after acquiring an additional 121 shares during the last quarter. Finally, Congress Wealth Management LLC DE raised its stake in shares of Hamilton Lane by 3.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 3,986 shares of the company’s stock valued at $590,000 after acquiring an additional 123 shares during the last quarter. 97.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Hamilton Lane from $190.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods reduced their price target on shares of Hamilton Lane from $162.00 to $155.00 and set a “market perform” rating on the stock in a research report on Monday, June 2nd. Wells Fargo & Company boosted their price target on shares of Hamilton Lane from $161.00 to $162.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Wall Street Zen cut shares of Hamilton Lane from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. Finally, Oppenheimer cut shares of Hamilton Lane from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 15th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, Hamilton Lane presently has a consensus rating of “Hold” and a consensus target price of $164.43.

Hamilton Lane Trading Down 2.8%

Shares of NASDAQ HLNE opened at $154.64 on Friday. The firm’s 50 day moving average price is $152.67 and its 200-day moving average price is $151.03. The company has a market cap of $8.28 billion, a PE ratio of 28.69 and a beta of 1.22. Hamilton Lane Inc. has a 52-week low of $123.98 and a 52-week high of $203.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.83 and a current ratio of 4.83.

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

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Friday, June 20th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Friday, June 20th. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.49. Hamilton Lane’s dividend payout ratio is currently 40.07%.

Hamilton Lane Profile

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.