State of New Jersey Common Pension Fund D Has $2.44 Million Position in Hamilton Lane Incorporated (NASDAQ:HLNE)

State of New Jersey Common Pension Fund D cut its position in Hamilton Lane Incorporated (NASDAQ:HLNE) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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. Signaturefd LLC raised its holdings in Hamilton Lane by 13.1% in the 2nd quarter. Signaturefd LLC now owns 629 shares of the company’s stock valued at $78,000 after buying an additional 73 shares during the last quarter. EFG Asset Management North America Corp. increased its position in Hamilton Lane by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 17,185 shares of the company’s stock valued at $2,125,000 after acquiring an additional 81 shares during the period. CWM LLC raised its stake in shares of Hamilton Lane by 24.7% during 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. GAMMA Investing LLC lifted its holdings in shares of Hamilton Lane by 32.4% during the third quarter. GAMMA Investing LLC now owns 637 shares of the company’s stock worth $107,000 after purchasing an additional 156 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Hamilton Lane by 3.6% in the third quarter. Janney Montgomery Scott LLC now owns 4,814 shares of the company’s stock worth $811,000 after purchasing an additional 168 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HLNE has been the topic of several recent research reports. UBS Group lifted their target price on Hamilton Lane from $150.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group upped their target price on Hamilton Lane from $139.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Morgan Stanley increased their target price on shares of Hamilton Lane from $182.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of Hamilton Lane from $156.00 to $170.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $180.33.

Hamilton Lane Stock Performance

Shares of HLNE stock opened at $190.39 on Thursday. The firm has a 50 day moving average of $172.00 and a 200-day moving average of $144.52. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 41.30 and a beta of 1.18. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.24. Hamilton Lane Incorporated has a 52 week low of $90.82 and a 52 week high of $203.72.

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, topping the consensus estimate of $1.06 by $0.01. Hamilton Lane had a net margin of 28.03% and a return on equity of 35.59%. The business had revenue of $150.00 million for the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the firm earned $0.89 earnings per share. Hamilton Lane’s revenue was up 18.2% on a year-over-year basis. On average, equities analysts forecast that Hamilton Lane Incorporated will post 4.87 earnings per share for the current year.

Hamilton Lane Dividend Announcement

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

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.