Todd Asset Management LLC reduced its position in shares of Lazard Ltd (NYSE:LAZ) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 433,044 shares of the asset manager’s stock after selling 430 shares during the period. Todd Asset Management LLC owned 0.33% of Lazard worth $14,892,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Lazard by 94.8% during the first quarter. FMR LLC now owns 5,015,114 shares of the asset manager’s stock valued at $181,247,000 after purchasing an additional 2,440,822 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Lazard by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 2,004,299 shares of the asset manager’s stock valued at $72,435,000 after purchasing an additional 189,715 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Lazard by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 1,407,053 shares of the asset manager’s stock valued at $52,060,000 after purchasing an additional 93,702 shares in the last quarter. Strs Ohio lifted its position in shares of Lazard by 2.3% during the second quarter. Strs Ohio now owns 1,239,000 shares of the asset manager’s stock valued at $42,609,000 after purchasing an additional 28,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Lazard by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 834,684 shares of the asset manager’s stock valued at $30,809,000 after purchasing an additional 8,381 shares in the last quarter. 68.71% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. Buckingham Research dropped their price target on shares of Lazard from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Zacks Investment Research lowered shares of Lazard from a “hold” rating to a “sell” rating and set a $41.00 price target on the stock. in a research report on Friday, July 26th. Finally, UBS Group lowered shares of Lazard from a “buy” rating to a “neutral” rating and dropped their price target for the company from $43.00 to $36.00 in a research report on Monday, June 10th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $40.33.
LAZ stock traded down $1.09 during mid-day trading on Friday, hitting $33.47. The company had a trading volume of 489,326 shares, compared to its average volume of 713,016. The firm has a market cap of $4.48 billion, a PE ratio of 8.05 and a beta of 1.69. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.95 and a current ratio of 1.95. Lazard Ltd has a 12 month low of $31.07 and a 12 month high of $49.43. The stock’s fifty day moving average price is $35.36 and its two-hundred day moving average price is $36.06.
Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, July 25th. The asset manager reported $0.73 EPS for the quarter, topping the consensus estimate of $0.63 by $0.10. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $604.18 million. Lazard had a net margin of 14.42% and a return on equity of 47.09%. The company’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Equities analysts anticipate that Lazard Ltd will post 3.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend was Friday, August 2nd. Lazard’s dividend payout ratio is 45.19%.
In other Lazard news, CAO Scott D. Hoffman sold 30,000 shares of Lazard stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $34.04, for a total value of $1,021,200.00. Following the sale, the chief accounting officer now owns 24,388 shares of the company’s stock, valued at $830,167.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.94% of the company’s stock.
Lazard Company Profile
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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