Hamilton Lane (NASDAQ:HLNE) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Hamilton Lane (NASDAQ:HLNE) had its target price decreased by JPMorgan Chase & Co. from $150.00 to $144.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Weiss Ratings raised Hamilton Lane from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 31st. Oppenheimer cut their target price on Hamilton Lane from $182.00 to $181.00 and set an “outperform” rating for the company in a research note on Thursday, August 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $117.00 price target on shares of Hamilton Lane in a research report on Friday, October 2nd. Wells Fargo & Company lifted their price target on shares of Hamilton Lane from $103.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley set a $118.00 price target on shares of Hamilton Lane in a research note on Friday, October 16th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.12.

Hamilton Lane Price Performance

NASDAQ:HLNE traded down $0.67 during midday trading on Wednesday, hitting $89.46. The company had a trading volume of 616,474 shares, compared to its average volume of 607,645. Hamilton Lane has a 52-week low of $71.88 and a 52-week high of $155.66. The stock’s fifty day moving average price is $89.41 and its 200-day moving average price is $96.59. The company has a market capitalization of $4.97 billion, a PE ratio of 13.27 and a beta of 1.16. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.16.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.33. Hamilton Lane had a return on equity of 25.10% and a net margin of 32.14%. The business had revenue of $204.43 million for the quarter, compared to the consensus estimate of $215.23 million. During the same quarter last year, the business posted $1.54 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts expect that Hamilton Lane will post 7.61 earnings per share for the current year.

Hamilton Lane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Monday, December 21st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, December 21st. Hamilton Lane’s payout ratio is presently 35.61%.

Institutional Investors Weigh In On Hamilton Lane

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aberdeen Group plc purchased a new stake in shares of Hamilton Lane during the third quarter worth about $10,685,000. Russell Investments Group Ltd. grew its stake in shares of Hamilton Lane by 48.4% in the third quarter. Russell Investments Group Ltd. now owns 119,701 shares of the company’s stock worth $10,397,000 after purchasing an additional 39,050 shares during the last quarter. Fifth Third Bancorp increased its holdings in Hamilton Lane by 6.8% during the 3rd quarter. Fifth Third Bancorp now owns 30,929 shares of the company’s stock valued at $2,686,000 after purchasing an additional 1,960 shares during the period. Searle & CO. increased its holdings in Hamilton Lane by 61.0% during the 3rd quarter. Searle & CO. now owns 12,400 shares of the company’s stock valued at $1,077,000 after purchasing an additional 4,700 shares during the period. Finally, AlphaCore Capital LLC bought a new position in Hamilton Lane during the 3rd quarter valued at approximately $231,000. 97.40% of the stock is currently owned by institutional investors.

About Hamilton Lane

Hamilton Lane Incorporated (NASDAQ: HLNE) is a global investment management firm specializing in private markets. The company provides investment solutions and advisory services focused on alternative assets, including private equity, private credit, venture capital, growth equity, infrastructure and real assets.

Hamilton Lane serves institutional investors, family offices, financial advisors and high-net-worth individuals. Its offerings include separately managed accounts, customized portfolios, commingled funds, evergreen vehicles and secondary-market strategies.