Meadow Creek Investment Management LLC increased its position in shares of Lazard Ltd (NYSE:LAZ) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 173,180 shares of the asset manager’s stock after purchasing an additional 18,172 shares during the quarter. Meadow Creek Investment Management LLC owned approximately 0.13% of Lazard worth $9,092,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC purchased a new position in Lazard during the fourth quarter worth about $105,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC purchased a new position in Lazard during the fourth quarter worth about $125,000. Advisory Services Network LLC boosted its holdings in Lazard by 83.2% during the fourth quarter. Advisory Services Network LLC now owns 2,151 shares of the asset manager’s stock worth $113,000 after purchasing an additional 977 shares during the last quarter. First Dallas Securities Inc. purchased a new position in Lazard during the fourth quarter worth about $127,000. Finally, American International Group Inc. purchased a new position in Lazard during the fourth quarter worth about $144,000. Institutional investors and hedge funds own 71.83% of the company’s stock.
In other news, COO Alexander F. Stern sold 15,160 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $53.47, for a total value of $810,605.20. Following the sale, the chief operating officer now owns 276,886 shares of the company’s stock, valued at $14,805,094.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Scott D. Hoffman sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were 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 in the company, valued at approximately $7,680,886.33. The disclosure for this sale can be found here. In the last three months, insiders sold 95,320 shares of company stock worth $5,053,854. Insiders own 2.50% of the company’s stock.
Shares of Lazard Ltd (NYSE:LAZ) opened at $55.68 on Wednesday. The company has a market cap of $7,373.31, a PE ratio of 30.26, 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 current ratio of 1.91 and a quick ratio of 1.91. Lazard Ltd has a 12-month low of $40.50 and a 12-month high of $60.00.
Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, February 1st. The asset manager reported $1.12 EPS for the quarter, topping the consensus estimate of $0.92 by $0.20. The business had revenue of $683.00 million for the quarter, compared to analyst estimates of $658.86 million. Lazard had a net margin of 9.40% and a return on equity of 38.93%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. equities analysts forecast that Lazard Ltd will post 3.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 12th were given a $0.116 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, February 9th. Lazard’s dividend payout ratio (DPR) is currently 89.13%.
Several research analysts recently weighed in on LAZ shares. Nomura upgraded shares of Lazard from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $62.00 in a report on Wednesday, January 3rd. Instinet raised shares of Lazard from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research lowered shares of Lazard from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine lowered shares of Lazard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, Goldman Sachs Group raised shares of Lazard from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $60.56.
Lazard Company 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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