Regal Investment Advisors LLC acquired a new position in shares of Lazard Ltd (NYSE:LAZ) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,383 shares of the asset manager’s stock, valued at approximately $230,000.
A number of other institutional investors also recently bought and sold shares of the business. LSV Asset Management lifted its position in Lazard by 2.4% during the 4th quarter. LSV Asset Management now owns 3,839,794 shares of the asset manager’s stock worth $201,589,000 after acquiring an additional 91,021 shares during the period. Strs Ohio lifted its position in Lazard by 13.1% during the 4th quarter. Strs Ohio now owns 1,680,000 shares of the asset manager’s stock worth $88,200,000 after acquiring an additional 194,000 shares during the period. Public Employees Retirement Association of Colorado lifted its position in Lazard by 2.6% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,673,954 shares of the asset manager’s stock worth $87,883,000 after acquiring an additional 42,381 shares during the period. FMR LLC lifted its position in Lazard by 35.2% during the 2nd quarter. FMR LLC now owns 1,647,335 shares of the asset manager’s stock worth $76,322,000 after acquiring an additional 429,046 shares during the period. Finally, Hosking Partners LLP lifted its position in Lazard by 0.5% during the 3rd quarter. Hosking Partners LLP now owns 1,013,954 shares of the asset manager’s stock worth $45,851,000 after acquiring an additional 4,667 shares during the period. 73.33% of the stock is owned by institutional investors.
Shares of Lazard Ltd (NYSE:LAZ) opened at $53.82 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $7,037.21, a P/E ratio of 29.25, a PEG ratio of 1.28 and a beta of 1.84. Lazard Ltd has a 1-year low of $40.50 and a 1-year high of $60.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 12th will be issued a $0.116 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.46 annualized dividend and a dividend yield of 0.86%. Lazard’s dividend payout ratio is currently 89.13%.
Lazard announced that its board has approved a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
LAZ has been the subject of a number of recent research reports. Nomura increased their price objective on Lazard from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $67.00 price objective on shares of Lazard in a research report on Thursday, February 1st. Sandler O’Neill reaffirmed a “buy” rating and set a $64.00 price objective on shares of Lazard in a research report on Thursday, January 11th. Goldman Sachs Group raised Lazard from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Monday, January 8th. Finally, Instinet raised Lazard from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $60.56.
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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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