Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,600 shares of the financial services provider’s stock after selling 200 shares during the period. State of Michigan Retirement System’s holdings in Houlihan Lokey were worth $1,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HLI. Norges Bank bought a new stake in Houlihan Lokey during the fourth quarter worth approximately $70,225,000. Capital International Investors lifted its holdings in shares of Houlihan Lokey by 56.7% in the fourth quarter. Capital International Investors now owns 792,073 shares of the financial services provider’s stock valued at $94,977,000 after buying an additional 286,746 shares during the period. Sei Investments Co. boosted its stake in Houlihan Lokey by 39.1% during the fourth quarter. Sei Investments Co. now owns 693,248 shares of the financial services provider’s stock valued at $83,128,000 after buying an additional 194,867 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Houlihan Lokey by 819.2% during the fourth quarter. Principal Financial Group Inc. now owns 216,186 shares of the financial services provider’s stock worth $25,923,000 after acquiring an additional 192,668 shares during the period. Finally, Barlow Wealth Partners Inc. bought a new stake in Houlihan Lokey in the fourth quarter worth about $20,237,000. 78.07% of the stock is currently owned by institutional investors.

Houlihan Lokey Trading Up 0.6 %

NYSE HLI opened at $154.16 on Thursday. Houlihan Lokey, Inc. has a 1 year low of $94.67 and a 1 year high of $157.58. The company has a market cap of $10.57 billion, a PE ratio of 37.51 and a beta of 0.67. The stock’s 50-day moving average price is $143.92 and its two-hundred day moving average price is $134.51.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share for the quarter, meeting the consensus estimate of $1.22. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The firm had revenue of $514.00 million for the quarter, compared to analyst estimates of $508.70 million. During the same period in the previous year, the firm earned $0.89 earnings per share. Houlihan Lokey’s quarterly revenue was up 23.6% on a year-over-year basis. Research analysts forecast that Houlihan Lokey, Inc. will post 5.67 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Tuesday, September 3rd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, September 3rd. Houlihan Lokey’s dividend payout ratio (DPR) is 55.47%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HLI shares. Morgan Stanley raised their price objective on shares of Houlihan Lokey from $131.00 to $148.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $154.00 target price (up from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, UBS Group increased their price objective on Houlihan Lokey from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.25.

Insider Buying and Selling

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,317 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Houlihan Lokey news, insider David A. Preiser sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $133.21, for a total transaction of $2,664,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Scott L. Beiser sold 8,317 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,419 shares of company stock worth $5,297,213. 25.97% of the stock is owned by company insiders.

Houlihan Lokey Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.