Zurich Insurance Group Ltd FI Buys Shares of 29,997 Lazard Ltd. (LAZ)

Zurich Insurance Group Ltd FI bought a new stake in shares of Lazard Ltd. (NYSE:LAZ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 29,997 shares of the asset manager’s stock, valued at approximately $1,390,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC increased its position in shares of Lazard by 345.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 39,943 shares of the asset manager’s stock valued at $1,851,000 after purchasing an additional 30,977 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Lazard by 14.1% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 8,670 shares of the asset manager’s stock valued at $402,000 after purchasing an additional 1,070 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Lazard by 2.7% during the 2nd quarter. Voya Investment Management LLC now owns 2,207,755 shares of the asset manager’s stock valued at $102,286,000 after purchasing an additional 57,181 shares during the last quarter. OxFORD Asset Management LLP increased its position in shares of Lazard by 197.2% during the 2nd quarter. OxFORD Asset Management LLP now owns 96,352 shares of the asset manager’s stock valued at $4,464,000 after purchasing an additional 63,934 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Lazard during the 2nd quarter valued at approximately $16,208,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Lazard Ltd. (LAZ) opened at 45.43 on Monday. The firm has a 50-day moving average price of $43.00 and a 200 day moving average price of $44.66. The company has a market cap of $5.52 billion, a P/E ratio of 12.87 and a beta of 1.85. Lazard Ltd. has a 12 month low of $33.48 and a 12 month high of $48.86.

Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. The company had revenue of $720.16 million during the quarter, compared to analysts’ expectations of $627.12 million. Lazard had a return on equity of 39.33% and a net margin of 17.39%. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. Equities research analysts predict that Lazard Ltd. will post $3.53 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/09/zurich-insurance-group-ltd-fi-buys-shares-of-29997-lazard-ltd-laz.html.

Several equities analysts have recently weighed in on the company. ValuEngine downgraded Lazard from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 3rd. BidaskClub downgraded Lazard from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research downgraded Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Lazard presently has a consensus rating of “Buy” and an av

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brandywine Global Investment Management LLC increased its position in shares of Lazard by 345.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 39,943 shares of the asset manager’s stock valued at $1,851,000 after purchasing an additional 30,977 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Lazard by 14.1% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 8,670 shares of the asset manager’s stock valued at $402,000 after purchasing an additional 1,070 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Lazard by 2.7% during the 2nd quarter. Voya Investment Management LLC now owns 2,207,755 shares of the asset manager’s stock valued at $102,286,000 after purchasing an additional 57,181 shares during the last quarter. OxFORD Asset Management LLP increased its position in shares of Lazard by 197.2% during the 2nd quarter. OxFORD Asset Management LLP now owns 96,352 shares of the asset manager’s stock valued at $4,464,000 after purchasing an additional 63,934 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of Lazard during the 2nd quarter valued at approximately $16,208,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Lazard Ltd. (LAZ) opened at 45.43 on Monday. The firm has a 50-day moving average price of $43.00 and a 200 day moving average price of $44.66. The company has a market cap of $5.52 billion, a P/E ratio of 12.87 and a beta of 1.85. Lazard Ltd. has a 12 month low of $33.48 and a 12 month high of $48.86.

Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.18. The company had revenue of $720.16 million during the quarter, compared to analysts’ expectations of $627.12 million. Lazard had a return on equity of 39.33% and a net margin of 17.39%. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. Equities research analysts predict that Lazard Ltd. will post $3.53 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this story can be viewed at https://ledgergazette.com/2017/10/09/zurich-insurance-group-ltd-fi-buys-shares-of-29997-lazard-ltd-laz.html.

Several equities analysts have recently weighed in on the company. ValuEngine downgraded Lazard from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 3rd. BidaskClub downgraded Lazard from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research downgraded Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Lazard presently has a consensus rating of “Buy” and an average price target of $46.43.

Lazard Profile

Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters to corporate, partnership, institutional, government, sovereign and individual clients.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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