Global Thematic Partners LLC raised its stake in Lazard Ltd. (NYSE:LAZ) by 6.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 971,166 shares of the asset manager’s stock after buying an additional 61,621 shares during the period. Global Thematic Partners LLC owned about 0.79% of Lazard worth $44,993,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dividend Assets Capital LLC boosted its position in Lazard by 0.7% in the second quarter. Dividend Assets Capital LLC now owns 10,255 shares of the asset manager’s stock valued at $475,000 after buying an additional 75 shares in the last quarter. New York State Teachers Retirement System boosted its position in Lazard by 0.9% in the first quarter. New York State Teachers Retirement System now owns 11,200 shares of the asset manager’s stock valued at $515,000 after buying an additional 100 shares in the last quarter. Webster Bank N. A. boosted its position in Lazard by 0.5% in the first quarter. Webster Bank N. A. now owns 31,947 shares of the asset manager’s stock valued at $1,469,000 after buying an additional 150 shares in the last quarter. United Capital Financial Advisers LLC boosted its position in Lazard by 2.7% in the first quarter. United Capital Financial Advisers LLC now owns 7,700 shares of the asset manager’s stock valued at $354,000 after buying an additional 200 shares in the last quarter. Finally, Reinhart Partners Inc. boosted its position in Lazard by 0.6% in the first quarter. Reinhart Partners Inc. now owns 34,910 shares of the asset manager’s stock valued at $1,606,000 after buying an additional 210 shares in the last quarter. 69.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lazard Ltd. (NYSE LAZ) remained flat at $42.42 on Friday. 733,594 shares of the company’s stock traded hands. Lazard Ltd. has a 52-week low of $33.48 and a 52-week high of $48.86. The stock’s 50 day moving average is $45.87 and its 200 day moving average is $44.82. The company has a market capitalization of $5.16 billion, a PE ratio of 12.02 and a beta of 1.84.
Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.18. The firm had revenue of $720.16 million for the quarter, compared to the consensus estimate of $627.12 million. Lazard had a return on equity of 39.33% and a net margin of 17.39%. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS. Analysts expect that Lazard Ltd. will post $3.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.64 annualized dividend and a yield of 3.87%. Lazard’s dividend payout ratio (DPR) is presently 46.46%.
Several research analysts have weighed in on the company. BidaskClub cut Lazard from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research cut Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine raised Lazard from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $51.00 price objective on shares of Lazard in a research report on Tuesday, May 9th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $46.89.
In related news, CFO Matthieu Bucaille sold 90,000 shares of Lazard stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $44.81, for a total transaction of $4,032,900.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is currently owned by insiders.
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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