Hamilton Lane raises full-year dividend target by 11%

Overview

• US private markets asset manager's fiscal Q2 revenue rose to $204.4 mln

• Adjusted EPS for fiscal Q2 was $1.98

• Company raised full-year dividend target by 11% from prior year

Outlook

• Company targets full-year dividend of $2.40 per share, up 11% from prior year

Result Drivers

• SPECIALIZED FUND EXPANSION – Fee-earning AUM in specialized funds rose $8.8 bln yr/yr, aided by a $1.3 bln secondary-fund closing in Q2

• INCENTIVE FEE GROWTH – Revenue growth was driven by both management and advisory fees and higher incentive fees

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment management & fund operators peer group is "buy"

• Wall Street's median 12-month price target for Hamilton Lane Incorporated is $116.50, about 32.6% above its November 2 closing price of $87.84

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)