O Shares Investment Advisers LLC reduced its stake in shares of Lazard Ltd (NYSE:LAZ) by 11.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 54,495 shares of the asset manager’s stock after selling 7,013 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Lazard were worth $1,969,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Mercantile Trust Co. raised its holdings in Lazard by 103.8% during the fourth quarter. First Mercantile Trust Co. now owns 1,060 shares of the asset manager’s stock valued at $39,000 after buying an additional 540 shares in the last quarter. Alpha Omega Wealth Management LLC increased its stake in shares of Lazard by 111.3% in the first quarter. Alpha Omega Wealth Management LLC now owns 1,253 shares of the asset manager’s stock worth $45,000 after purchasing an additional 660 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Lazard by 61.8% in the fourth quarter. Advisors Asset Management Inc. now owns 1,707 shares of the asset manager’s stock worth $63,000 after purchasing an additional 652 shares during the period. Quantamental Technologies LLC bought a new position in shares of Lazard in the first quarter worth about $97,000. Finally, Chiron Investment Management LLC increased its stake in shares of Lazard by 7.5% in the fourth quarter. Chiron Investment Management LLC now owns 4,303 shares of the asset manager’s stock worth $159,000 after purchasing an additional 300 shares during the period. Institutional investors own 65.59% of the company’s stock.
A number of equities analysts have recently commented on the company. Bank of America lowered Lazard from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Thursday, April 11th. Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, UBS Group lowered Lazard from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $43.00 to $36.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.33.
Shares of Lazard stock traded up $0.13 during trading on Monday, reaching $34.50. The company’s stock had a trading volume of 18,456 shares, compared to its average volume of 936,209. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $4.46 billion, a PE ratio of 8.31, a PEG ratio of 3.40 and a beta of 1.66. Lazard Ltd has a one year low of $31.07 and a one year high of $55.23.
Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.29. Lazard had a return on equity of 48.17% and a net margin of 16.72%. The business had revenue of $620.00 million for the quarter, compared to analyst estimates of $598.66 million. During the same period in the previous year, the company posted $1.26 earnings per share. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. Research analysts forecast that Lazard Ltd will post 3.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a dividend of $0.47 per share. The ex-dividend date was Friday, May 3rd. This is an increase from Lazard’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 5.45%. Lazard’s dividend payout ratio (DPR) is 45.19%.
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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