Icon Wealth Advisors LLC Acquires Shares of 659 Hamilton Lane Incorporated (NASDAQ:HLNE)

Icon Wealth Advisors LLC bought a new stake in Hamilton Lane Incorporated (NASDAQ:HLNE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 659 shares of the company’s stock, valued at approximately $111,000.

A number of other large investors also recently made changes to their positions in HLNE. American Century Companies Inc. increased its stake in Hamilton Lane by 30.3% in the 2nd quarter. American Century Companies Inc. now owns 580,768 shares of the company’s stock valued at $71,772,000 after buying an additional 135,040 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Hamilton Lane by 20.2% during the third quarter. Principal Financial Group Inc. now owns 583,721 shares of the company’s stock valued at $98,297,000 after acquiring an additional 97,924 shares during the last quarter. Fred Alger Management LLC increased its position in shares of Hamilton Lane by 10.5% during the second quarter. Fred Alger Management LLC now owns 687,521 shares of the company’s stock valued at $84,964,000 after acquiring an additional 65,151 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in Hamilton Lane by 32.8% during the third quarter. Geneva Capital Management LLC now owns 258,739 shares of the company’s stock worth $43,569,000 after acquiring an additional 63,866 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in Hamilton Lane in the third quarter worth $9,587,000. 97.40% of the stock is owned by institutional investors.

Hamilton Lane Price Performance

Shares of NASDAQ:HLNE opened at $192.40 on Monday. The company has a 50 day moving average of $182.05 and a 200 day moving average of $151.22. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.24. The stock has a market cap of $10.66 billion, a P/E ratio of 41.74 and a beta of 1.18. Hamilton Lane Incorporated has a 12 month low of $96.38 and a 12 month high of $203.72.

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

Hamilton Lane Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a $0.49 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.96 annualized dividend and a dividend yield of 1.02%. Hamilton Lane’s payout ratio is currently 42.52%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HLNE shares. The Goldman Sachs Group raised their price objective on shares of Hamilton Lane from $139.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. UBS Group increased their target price on shares of Hamilton Lane from $150.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley lifted their price target on shares of Hamilton Lane from $182.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods upped their price objective on Hamilton Lane from $181.00 to $215.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.33.

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.