Principal Financial Group Inc. Has $8.28 Million Holdings in Houlihan Lokey, Inc. (HLI)
Principal Financial Group Inc. raised its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 2.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 211,600 shares of the financial services provider’s stock after purchasing an additional 4,700 shares during the quarter. Principal Financial Group Inc. owned 0.32% of Houlihan Lokey worth $8,280,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its stake in Houlihan Lokey by 29.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 192,943 shares of the financial services provider’s stock valued at $6,734,000 after purchasing an additional 43,706 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Houlihan Lokey by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 137,759 shares of the financial services provider’s stock valued at $4,808,000 after purchasing an additional 4,238 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Houlihan Lokey by 122.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,193,275 shares of the financial services provider’s stock valued at $41,645,000 after purchasing an additional 655,940 shares in the last quarter. Sawgrass Asset Management LLC bought a new stake in Houlihan Lokey during the 2nd quarter valued at about $369,000. Finally, Schwab Charles Investment Management Inc. increased its stake in Houlihan Lokey by 133.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the financial services provider’s stock valued at $1,637,000 after purchasing an additional 26,800 shares in the last quarter. Institutional investors and hedge funds own 34.63% of the company’s stock.
Shares of Houlihan Lokey, Inc. (HLI) traded down $0.29 during mid-day trading on Thursday, hitting $43.91. 156,300 shares of the stock were exchanged, compared to its average volume of 246,664. Houlihan Lokey, Inc. has a 52-week low of $29.51 and a 52-week high of $45.14. The company has a market capitalization of $2,910.97, a price-to-earnings ratio of 19.91, a PEG ratio of 2.94 and a beta of 0.42. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.92 and a quick ratio of 0.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, December 1st. Houlihan Lokey’s payout ratio is 37.91%.
A number of analysts have weighed in on the stock. BidaskClub lowered shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Houlihan Lokey in a research note on Tuesday, October 3rd. TheStreet upgraded shares of Houlihan Lokey from a “c” rating to a “b-” rating in a research note on Monday, August 14th. Bank of America lifted their price target on shares of Houlihan Lokey from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, ValuEngine upgraded shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Houlihan Lokey currently has a consensus rating of “Buy” and an average target price of $42.33.
In related news, CEO Scott L. Beiser sold 63,688 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.63, for a total value of $2,651,331.44. Following the transaction, the chief executive officer now owns 78,108 shares of the company’s stock, valued at $3,251,636.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Orix Hlhz Holding Llc sold 686,760 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $36.26, for a total transaction of $24,901,917.60. The disclosure for this sale can be found here. In the last three months, insiders sold 2,807,387 shares of company stock worth $113,183,620. 69.70% of the stock is currently owned by insiders.
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Houlihan Lokey Profile
Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), capital markets, financial restructuring, valuation, and strategic consulting. The Company operates through four segments: Corporate Finance, Financial Restructuring, Financial Advisory Services and Strategic Consulting.
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