AMP Capital Investors Ltd lifted its holdings in shares of Lazard Ltd (NYSE:LAZ) by 13.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,500 shares of the asset manager’s stock after acquiring an additional 4,600 shares during the quarter. AMP Capital Investors Ltd’s holdings in Lazard were worth $2,074,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in LAZ. Denali Advisors LLC purchased a new stake in shares of Lazard during the fourth quarter worth about $105,000. Advisory Services Network LLC increased its position in shares of 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 acquiring an additional 977 shares during the last quarter. First Dallas Securities Inc. purchased a new stake in shares of Lazard during the fourth quarter worth about $127,000. American International Group Inc. acquired a new position in Lazard in the fourth quarter worth about $144,000. Finally, Pinnacle Financial Partners Inc. acquired a new position in Lazard in the fourth quarter worth about $202,000. 71.74% of the stock is currently owned by institutional investors and hedge funds.
LAZ stock opened at $50.77 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.95. Lazard Ltd has a 52 week low of $40.50 and a 52 week high of $60.00. The company has a market capitalization of $7,050.19, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.81.
Lazard (NYSE:LAZ) last issued its earnings results on Thursday, February 1st. The asset manager reported $1.12 EPS for the quarter, beating the Zacks’ 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 company had revenue of $683.00 million during the quarter, compared to the consensus estimate of $658.86 million. During the same period in the previous year, the firm posted $1.13 earnings per share. Lazard’s quarterly revenue was down .3% compared to the same quarter last year. equities research analysts predict that Lazard Ltd will post 3.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were paid a $0.116 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.46 dividend on an annualized basis and a yield of 0.91%. Lazard’s payout ratio is currently 89.13%.
In other Lazard news, COO Alexander F. Stern sold 15,160 shares of Lazard stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $53.47, for a total value of $810,605.20. Following the completion of the transaction, the chief operating officer now directly owns 276,886 shares in the company, valued at $14,805,094.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Scott D. Hoffman sold 15,000 shares of Lazard stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $52.13, for a total value of $781,950.00. Following the completion of the transaction, the chief accounting officer now owns 147,341 shares of the company’s stock, valued at $7,680,886.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,320 shares of company stock valued at $5,053,854. 2.50% of the stock is currently owned by insiders.
A number of equities analysts recently commented on the company. Sandler O’Neill reiterated a “buy” rating and issued a $64.00 price target on shares of Lazard in a research note on Thursday, January 11th. Nomura lifted their price target on 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 Lazard from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Monday, February 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $67.00 price target on shares of Lazard in a research note on Thursday, February 1st. Finally, JMP Securities lifted their price target on Lazard from $63.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Lazard currently has a consensus rating of “Buy” and an average price target of $62.25.
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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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