State of New Jersey Common Pension Fund D Sells 493 Shares of Hamilton Lane Incorporated (NASDAQ:HLNE)

State of New Jersey Common Pension Fund D trimmed its holdings in Hamilton Lane Incorporated (NASDAQ:HLNE) by 3.3% during the third quarter, Holdings Channel reports. The institutional investor owned 14,509 shares of the company’s stock after selling 493 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Hamilton Lane were worth $2,443,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HLNE. Vanguard Group Inc. raised its holdings in shares of Hamilton Lane by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 3,678,617 shares of the company’s stock worth $414,801,000 after acquiring an additional 283,190 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Hamilton Lane by 30.3% in the second quarter. American Century Companies Inc. now owns 580,768 shares of the company’s stock valued at $71,772,000 after purchasing an additional 135,040 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Hamilton Lane during the first quarter valued at approximately $11,445,000. Principal Financial Group Inc. grew its holdings in Hamilton Lane by 20.2% during the third quarter. Principal Financial Group Inc. now owns 583,721 shares of the company’s stock worth $98,297,000 after buying an additional 97,924 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Hamilton Lane in the 1st quarter valued at $9,724,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HLNE has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on shares of Hamilton Lane from $181.00 to $215.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Morgan Stanley increased their price objective on shares of Hamilton Lane from $182.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday. Wells Fargo & Company lifted their target price on shares of Hamilton Lane from $156.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price target on Hamilton Lane from $139.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, Hamilton Lane currently has a consensus rating of “Hold” and a consensus target price of $180.33.

Hamilton Lane Trading Down 3.3 %

NASDAQ:HLNE opened at $190.39 on Thursday. Hamilton Lane Incorporated has a 12 month low of $90.82 and a 12 month high of $203.72. 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 firm’s 50 day moving average is $172.00 and its 200 day moving average is $144.52. The stock has a market capitalization of $10.32 billion, a PE ratio of 41.30 and a beta of 1.18.

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

Hamilton Lane Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.96 dividend on an annualized basis and a yield of 1.03%. Hamilton Lane’s dividend payout ratio is presently 42.52%.

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.