Hamilton Lane Incorporated (NASDAQ:HLNE) Increases Dividend to $0.49 Per Share

Hamilton Lane Incorporated (NASDAQ:HLNE) announced a quarterly dividend on Thursday, May 23rd, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.49 per share on Friday, July 5th. This represents a $1.96 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, June 14th. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.45.

Hamilton Lane has raised its dividend payment by an average of 12.7% annually over the last three years and has increased its dividend every year for the last 6 years. Hamilton Lane has a dividend payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hamilton Lane to earn $4.93 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 36.1%.

Hamilton Lane Trading Up 2.2 %

NASDAQ HLNE opened at $126.95 on Friday. The business has a 50 day simple moving average of $113.61 and a 200 day simple moving average of $110.26. Hamilton Lane has a one year low of $62.86 and a one year high of $129.02. The stock has a market capitalization of $6.86 billion, a P/E ratio of 34.40 and a beta of 1.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.58 and a quick ratio of 2.58.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings results on Thursday, May 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.38. The business had revenue of $176.67 million for the quarter, compared to analyst estimates of $134.72 million. Hamilton Lane had a return on equity of 31.00% and a net margin of 25.43%. Research analysts expect that Hamilton Lane will post 4.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Oakville Number 2 Trust sold 55,000 shares of Hamilton Lane stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $108.00, for a total value of $5,940,000.00. Following the completion of the transaction, the insider now directly owns 480,015 shares in the company, valued at $51,841,620. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 26.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HLNE. Keefe, Bruyette & Woods increased their price target on Hamilton Lane from $118.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on Hamilton Lane from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Friday. UBS Group raised their target price on Hamilton Lane from $118.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Wells Fargo & Company raised their target price on Hamilton Lane from $106.00 to $111.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Hamilton Lane presently has an average rating of “Hold” and an average price target of $114.00.

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.