Retirement Systems of Alabama Invests $8.29 Million in Hamilton Lane Incorporated (NASDAQ:HLNE)

Retirement Systems of Alabama acquired a new stake in shares of Hamilton Lane Incorporated (NASDAQ:HLNE) in the third quarter, HoldingsChannel reports. The fund acquired 49,238 shares of the company’s stock, valued at approximately $8,291,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP lifted its holdings in shares of Hamilton Lane by 316.2% during the 2nd quarter. Quarry LP now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 234 shares during the last quarter. Signaturefd LLC raised its position in Hamilton Lane by 13.1% during the second quarter. Signaturefd LLC now owns 629 shares of the company’s stock valued at $78,000 after acquiring an additional 73 shares in the last quarter. CWM LLC lifted its stake in Hamilton Lane by 24.7% in the third quarter. CWM LLC now owns 505 shares of the company’s stock valued at $85,000 after acquiring an additional 100 shares during the last quarter. Fifth Third Bancorp grew its position in Hamilton Lane by 106.5% in the second quarter. Fifth Third Bancorp now owns 694 shares of the company’s stock worth $86,000 after acquiring an additional 358 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Hamilton Lane by 32.4% in the third quarter. GAMMA Investing LLC now owns 637 shares of the company’s stock worth $107,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Hamilton Lane Price Performance

NASDAQ HLNE opened at $163.41 on Wednesday. The stock has a 50-day simple moving average of $184.50 and a 200 day simple moving average of $155.88. Hamilton Lane Incorporated has a twelve month low of $103.42 and a twelve month high of $203.72. The stock has a market capitalization of $9.06 billion, a PE ratio of 35.45 and a beta of 1.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.37 and a current ratio of 3.37.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Hamilton Lane had a return on equity of 35.59% and a net margin of 28.03%. The company had revenue of $150.00 million during the quarter, compared to analyst estimates of $151.55 million. During the same period in the previous year, the company earned $0.89 earnings per share. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Research analysts anticipate that Hamilton Lane Incorporated will post 4.87 EPS for the current year.

Hamilton Lane Dividend Announcement

The business 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. This represents a $1.96 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Monday, December 16th. Hamilton Lane’s dividend payout ratio (DPR) is presently 42.52%.

Analyst Ratings Changes

HLNE has been the subject of several analyst reports. UBS Group lifted their price objective on shares of Hamilton Lane from $150.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods boosted their price target on Hamilton Lane from $181.00 to $215.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on Hamilton Lane from $189.00 to $194.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Morgan Stanley boosted their target price on Hamilton Lane from $182.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their price target on Hamilton Lane from $134.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hamilton Lane has an average rating of “Hold” and a consensus target price of $184.33.

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.