QS Investors LLC lessened its holdings in Lazard Ltd (NYSE:LAZ) by 9.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,164 shares of the asset manager’s stock after selling 3,115 shares during the period. QS Investors LLC’s holdings in Lazard were worth $1,531,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Lazard by 111.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 738,623 shares of the asset manager’s stock worth $33,399,000 after acquiring an additional 388,820 shares during the period. Wells Fargo & Company MN raised its stake in Lazard by 104.8% during the 3rd quarter. Wells Fargo & Company MN now owns 634,524 shares of the asset manager’s stock worth $28,693,000 after acquiring an additional 324,682 shares during the period. First Trust Advisors LP raised its stake in Lazard by 92.3% during the 4th quarter. First Trust Advisors LP now owns 480,936 shares of the asset manager’s stock worth $25,249,000 after acquiring an additional 230,839 shares during the period. Ameriprise Financial Inc. raised its stake in Lazard by 70.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 474,818 shares of the asset manager’s stock worth $21,473,000 after acquiring an additional 196,575 shares during the period. Finally, Strs Ohio raised its stake in Lazard by 13.1% during the 4th quarter. Strs Ohio now owns 1,680,000 shares of the asset manager’s stock worth $88,200,000 after acquiring an additional 194,000 shares during the period. Hedge funds and other institutional investors own 71.74% of the company’s stock.
A number of research firms have commented on LAZ. Sandler O’Neill restated a “buy” rating and set a $64.00 target price on shares of Lazard in a research note on Thursday, January 11th. Nomura raised their target price on shares of Lazard from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. 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 note on Monday, February 5th. Keefe, Bruyette & Woods restated a “buy” rating and set a $67.00 target price on shares of Lazard in a research note on Thursday, February 1st. Finally, JMP Securities lifted their price objective on shares of Lazard from $63.00 to $65.00 and gave the company a “market outperform” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Lazard presently has an average rating of “Buy” and a consensus price target of $60.56.
In other Lazard news, COO Alexander F. Stern sold 65,160 shares of Lazard stock in a transaction on Monday, March 5th. The shares were sold at an average price of $53.12, for a total transaction of $3,461,299.20. Following the completion of the transaction, the chief operating officer now directly owns 276,886 shares of the company’s stock, valued at $14,708,184.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Scott D. Hoffman sold 15,000 shares of Lazard stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $52.13, for a total transaction of $781,950.00. Following the transaction, the chief accounting officer now directly owns 147,341 shares of the company’s stock, valued at $7,680,886.33. The disclosure for this sale can be found here. Insiders have sold 95,320 shares of company stock valued at $5,053,854 over the last ninety days. 2.50% of the stock is owned by insiders.
Lazard stock opened at $54.33 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $7,096.91, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 1.30 and a beta of 1.81. Lazard Ltd has a one year low of $40.50 and a one year high of $60.00.
Lazard (NYSE:LAZ) last posted 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 company had revenue of $683.00 million during 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%. Lazard’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 earnings per share. equities analysts anticipate that Lazard Ltd will post 3.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were paid a dividend of $0.116 per share. This represents a $0.46 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, February 9th. Lazard’s payout ratio is 89.13%.
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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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