Rudman Errol M lifted its position in Lazard Ltd (NYSE:LAZ) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,911 shares of the asset manager’s stock after purchasing an additional 10,000 shares during the period. Lazard comprises about 2.4% of Rudman Errol M’s portfolio, making the stock its 15th biggest holding. Rudman Errol M owned about 0.07% of Lazard worth $4,878,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Denali Advisors LLC acquired a new stake in shares of Lazard during the fourth quarter worth about $105,000. Advisory Services Network LLC raised its holdings in Lazard by 83.2% in the fourth quarter. Advisory Services Network LLC now owns 2,151 shares of the asset manager’s stock valued at $113,000 after acquiring an additional 977 shares in the last quarter. First Dallas Securities Inc. acquired a new stake in Lazard in the fourth quarter valued at approximately $127,000. American International Group Inc. acquired a new stake in Lazard in the fourth quarter valued at approximately $144,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in Lazard in the fourth quarter valued at approximately $202,000. Institutional investors own 71.83% of the company’s stock.
Lazard Ltd (LAZ) traded up $0.26 during trading hours on Wednesday, hitting $55.94. The stock had a trading volume of 794,169 shares, compared to its average volume of 975,175. Lazard Ltd has a 12 month low of $40.50 and a 12 month high of $60.00. The company has a market capitalization of $7,280.00, a PE ratio of 10.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.91 and a current ratio of 1.91.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, February 1st. The asset manager reported $1.12 EPS for the quarter, beating the consensus estimate of $0.92 by $0.20. Lazard had a return on equity of 38.93% and a net margin of 9.40%. The business had revenue of $683.00 million during the quarter, compared to the consensus estimate of $658.86 million. During the same period in the prior year, the business posted $1.13 earnings per share. Lazard’s revenue was down .3% compared to the same quarter last year. equities analysts expect that Lazard Ltd will post 3.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 12th were paid a $0.116 dividend. This represents a $0.46 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, February 9th. Lazard’s dividend payout ratio is currently 30.20%.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Lazard from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, February 5th. Nomura upgraded shares of Lazard from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $62.00 in a research report on Wednesday, January 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $67.00 price target on shares of Lazard in a research note on Thursday, February 1st. Goldman Sachs Group upgraded Lazard from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Monday, January 8th. Finally, Instinet upgraded Lazard from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.56.
In other news, CAO Scott D. Hoffman sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $52.13, for a total transaction of $781,950.00. Following the completion of the sale, the chief accounting officer now directly owns 147,341 shares of the company’s stock, valued at approximately $7,680,886.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Alexander F. Stern sold 15,160 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $53.47, for a total value of $810,605.20. Following the transaction, the chief operating officer now directly owns 276,886 shares in the company, valued at approximately $14,805,094.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,320 shares of company stock valued at $5,053,854. Company insiders own 2.50% of the company’s stock.
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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