Corebridge Financial Inc. Decreases Stake in Hamilton Lane Incorporated (NASDAQ:HLNE)

Corebridge Financial Inc. decreased its holdings in Hamilton Lane Incorporated (NASDAQ:HLNE) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 66,071 shares of the company’s stock after selling 2,098 shares during the period. Corebridge Financial Inc. owned approximately 0.12% of Hamilton Lane worth $9,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HLNE. Congress Wealth Management LLC DE increased its position in shares of Hamilton Lane by 3.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 3,986 shares of the company’s stock worth $590,000 after acquiring an additional 123 shares in the last quarter. Vanguard Group Inc. increased its holdings in Hamilton Lane by 28.4% in the 4th quarter. Vanguard Group Inc. now owns 3,901,933 shares of the company’s stock valued at $577,681,000 after purchasing an additional 863,326 shares in the last quarter. Stevens Capital Management LP purchased a new position in Hamilton Lane in the fourth quarter valued at about $232,000. LPL Financial LLC lifted its stake in shares of Hamilton Lane by 27.2% during the fourth quarter. LPL Financial LLC now owns 9,816 shares of the company’s stock worth $1,453,000 after purchasing an additional 2,101 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Hamilton Lane during the fourth quarter worth about $1,173,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HLNE has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their target price on Hamilton Lane from $158.00 to $168.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Oppenheimer upgraded shares of Hamilton Lane from a “market perform” rating to an “outperform” rating and set a $186.00 price objective on the stock in a research note on Tuesday, January 21st. The Goldman Sachs Group downgraded shares of Hamilton Lane from a “neutral” rating to a “sell” rating and set a $139.00 target price for the company. in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered their price target on shares of Hamilton Lane from $169.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Hamilton Lane currently has an average rating of “Hold” and a consensus target price of $170.71.

Hamilton Lane Stock Performance

Hamilton Lane stock opened at $154.02 on Thursday. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $153.98 and a 200-day moving average of $164.98. The stock has a market cap of $8.54 billion, a P/E ratio of 28.42 and a beta of 1.28. Hamilton Lane Incorporated has a 52 week low of $108.34 and a 52 week high of $203.72.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.12. The company had revenue of $168.26 million during the quarter, compared to analyst estimates of $158.86 million. Hamilton Lane had a net margin of 31.12% and a return on equity of 36.69%. The firm’s revenue for the quarter was up 34.3% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. On average, analysts expect that Hamilton Lane Incorporated will post 4.97 EPS for the current fiscal year.

Hamilton Lane Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Friday, March 14th. Hamilton Lane’s payout ratio is currently 36.16%.

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.