Norges Bank Acquires Shares of 656,723 Houlihan Lokey, Inc. (NYSE:HLI)

Norges Bank bought a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 656,723 shares of the financial services provider’s stock, valued at approximately $114,047,000. Norges Bank owned about 0.94% of Houlihan Lokey as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. CIBC Asset Management Inc increased its holdings in Houlihan Lokey by 5.0% in the fourth quarter. CIBC Asset Management Inc now owns 1,617 shares of the financial services provider’s stock valued at $281,000 after buying an additional 77 shares during the last quarter. M&T Bank Corp grew its position in shares of Houlihan Lokey by 2.5% in the 4th quarter. M&T Bank Corp now owns 3,771 shares of the financial services provider’s stock worth $655,000 after acquiring an additional 92 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Houlihan Lokey by 6.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,625 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 95 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Houlihan Lokey by 0.8% during the 4th quarter. State of Michigan Retirement System now owns 12,700 shares of the financial services provider’s stock valued at $2,205,000 after acquiring an additional 100 shares in the last quarter. Finally, Mather Group LLC. lifted its stake in Houlihan Lokey by 24.8% during the fourth quarter. Mather Group LLC. now owns 584 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on HLI shares. Morgan Stanley upgraded shares of Houlihan Lokey from an “underweight” rating to an “overweight” rating and lowered their target price for the company from $201.00 to $190.00 in a research note on Thursday, March 13th. StockNews.com lowered shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $192.00 target price (up from $170.00) on shares of Houlihan Lokey in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on Houlihan Lokey from $172.00 to $169.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, JMP Securities restated a “market perform” rating on shares of Houlihan Lokey in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $192.00.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock opened at $163.96 on Wednesday. Houlihan Lokey, Inc. has a 1-year low of $122.14 and a 1-year high of $192.10. The business’s fifty day moving average price is $171.31 and its two-hundred day moving average price is $172.92. The company has a market capitalization of $11.50 billion, a P/E ratio of 31.29 and a beta of 0.72.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.13. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. On average, research analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Monday, March 3rd. Houlihan Lokey’s dividend payout ratio (DPR) is presently 43.51%.

About Houlihan Lokey

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.