Wells Fargo & Company MN reduced its position in Lazard Ltd (NYSE:LAZ) by 43.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,007 shares of the asset manager’s stock after selling 277,517 shares during the period. Wells Fargo & Company MN owned 0.28% of Lazard worth $18,742,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in shares of Lazard by 92.3% in the fourth quarter. First Trust Advisors LP now owns 480,936 shares of the asset manager’s stock worth $25,249,000 after buying an additional 230,839 shares in the last quarter. Hosking Partners LLP lifted its position in shares of Lazard by 7.2% in the fourth quarter. Hosking Partners LLP now owns 1,087,280 shares of the asset manager’s stock worth $57,082,000 after buying an additional 73,326 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in shares of Lazard in the fourth quarter worth about $202,000. Cetera Advisors LLC bought a new stake in Lazard during the fourth quarter worth approximately $221,000. Finally, Barings LLC increased its stake in Lazard by 30.6% during the fourth quarter. Barings LLC now owns 29,900 shares of the asset manager’s stock worth $1,570,000 after acquiring an additional 7,000 shares during the last quarter. Institutional investors own 71.83% of the company’s stock.
Several brokerages have weighed in on LAZ. Zacks Investment Research raised Lazard from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Monday, February 5th. Nomura raised Lazard from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $62.00 in a research note on Wednesday, January 3rd. Keefe, Bruyette & Woods reissued a “buy” rating and set a $67.00 price objective on shares of Lazard in a research note on Thursday, February 1st. Goldman Sachs Group raised Lazard from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Monday, January 8th. Finally, Instinet raised Lazard from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $60.56.
Lazard Ltd (NYSE:LAZ) opened at $56.07 on Monday. The company has a market capitalization of $7,275.98, a P/E ratio of 14.83, a PEG ratio of 1.33 and a beta of 1.81. Lazard Ltd has a 52 week low of $40.50 and a 52 week high of $60.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.91 and a current ratio of 1.91.
Lazard (NYSE:LAZ) last released its earnings results on Thursday, February 1st. The asset manager reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.20. The firm had revenue of $683.00 million for the quarter, compared to analysts’ expectations of $658.86 million. Lazard had a return on equity of 38.93% and a net margin of 9.40%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.13 earnings per share. sell-side analysts forecast that Lazard Ltd will post 3.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 12th were paid a dividend of $0.116 per share. The ex-dividend date was Friday, February 9th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.83%. Lazard’s dividend payout ratio is 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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