CONSHOHOCKEN, PA — Hamilton Lane Incorporated (Nasdaq: HLNE) released its financial results for the first fiscal quarter ending June 30, 2024, showing significant growth across various metrics.
Key Highlights:
- Assets Under Management: Hamilton Lane reached a total of $129.7 billion in assets under management (AUM), an 11% increase year-over-year. Fee-earning assets under management grew by 13%, hitting $67.7 billion.
- Revenue: The company reported management and advisory fees of $140.0 million for the quarter, representing a 33% increase compared to the same period last year.
- Carried Interest: The unrealized carried interest balance rose by 12% to approximately $1.2 billion.
- Earnings Per Share: Hamilton Lane posted GAAP earnings per share (EPS) of $1.47, based on a GAAP net income of $59.0 million for the quarter.
- Dividend: The company declared a quarterly dividend of $0.49 per share of Class A common stock, payable on October 4, 2024, to shareholders of record as of September 16, 2024. The targeted full-year dividend of $1.96 represents a 10% increase from the previous fiscal year.
Hamilton Lane Co-CEO Erik Hirsch stated, “After a successful fiscal 2024, we have opened up fiscal 2025 with a strong quarter. Our team remains focused on executing and delivering consistent results for our clients and this has resulted in strong growth across the entirety of our business.”
Buy, Sell, or Hold?
Hamilton Lane’s robust performance in the first quarter sets a positive outlook for the fiscal year. The significant growth in assets under management and revenue highlights the company’s strength and strategic direction.
For investors, the 33% revenue growth and increased carried interest indicate a healthy, growing business. The firm’s commitment to returning value to shareholders is evident from the 10% increase in the annual dividend. Despite potential market volatility, Hamilton Lane’s strong financial metrics and strategic focus make it a Buy for investors looking for a solid, growth-oriented asset management firm.
Investors should keep an eye on the company’s ability to sustain this growth and manage any market fluctuations that could impact future performance.
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