Navellier & Associates Inc decreased its holdings in Lazard Ltd (NYSE:LAZ) by 16.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 40,509 shares of the asset manager’s stock after selling 8,062 shares during the quarter. Navellier & Associates Inc’s holdings in Lazard were worth $2,127,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. LSV Asset Management raised its holdings in Lazard by 2.4% in the fourth quarter. LSV Asset Management now owns 3,839,794 shares of the asset manager’s stock valued at $201,589,000 after buying an additional 91,021 shares during the period. Strs Ohio raised its holdings in Lazard by 13.1% in the fourth quarter. Strs Ohio now owns 1,680,000 shares of the asset manager’s stock valued at $88,200,000 after buying an additional 194,000 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in Lazard by 2.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,673,954 shares of the asset manager’s stock valued at $87,883,000 after buying an additional 42,381 shares during the period. Hosking Partners LLP raised its holdings in Lazard by 7.2% in the fourth quarter. Hosking Partners LLP now owns 1,087,280 shares of the asset manager’s stock valued at $57,082,000 after buying an additional 73,326 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Lazard by 71.5% in the third quarter. Principal Financial Group Inc. now owns 971,137 shares of the asset manager’s stock valued at $43,915,000 after buying an additional 405,016 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.
Several research analysts recently commented on LAZ shares. Nomura upgraded shares of Lazard from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $62.00 in a report on Wednesday, January 3rd. Instinet upgraded shares of Lazard from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $67.00 price target on shares of Lazard in a report on Thursday, February 1st. Sandler O’Neill restated a “buy” rating and issued a $64.00 price target on shares of Lazard in a report on Thursday, January 11th. Finally, Goldman Sachs Group upgraded shares of Lazard from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $60.56.
Shares of Lazard Ltd (NYSE:LAZ) opened at $53.18 on Friday. The stock has a market cap of $6,954.17, a P/E ratio of 28.90, a PEG ratio of 1.27 and a beta of 1.84. Lazard Ltd has a 12 month low of $40.50 and a 12 month high of $60.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.09 and a current ratio of 2.09.
Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, February 1st. The asset manager reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.20. The company 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 38.66%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. sell-side analysts forecast that Lazard Ltd will post 3.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 12th will be paid a dividend of $0.116 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.87%. Lazard’s dividend payout ratio is currently 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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