Deutsche Bank AG grew its position in Lazard Ltd (NYSE:LAZ) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,350,662 shares of the asset manager’s stock after acquiring an additional 126,351 shares during the quarter. Deutsche Bank AG owned 1.04% of Lazard worth $70,907,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Denali Advisors LLC bought a new stake in shares of Lazard in the 4th quarter worth approximately $105,000. Advisory Services Network LLC lifted its position in shares of Lazard by 83.2% in the 4th quarter. Advisory Services Network LLC now owns 2,151 shares of the asset manager’s stock worth $113,000 after acquiring an additional 977 shares during the period. First Dallas Securities Inc. bought a new stake in shares of Lazard in the 4th quarter worth approximately $127,000. American International Group Inc. bought a new stake in shares of Lazard in the 4th quarter worth approximately $144,000. Finally, Pinnacle Financial Partners Inc. bought a new stake in shares of Lazard in the 4th quarter worth approximately $202,000. Institutional investors own 71.83% of the company’s stock.
In related news, CAO Scott D. Hoffman sold 15,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $52.13, for a total transaction of $781,950.00. Following the completion of the sale, the chief accounting officer now directly owns 147,341 shares of the company’s stock, valued at approximately $7,680,886.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Alexander F. Stern sold 15,160 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $53.47, for a total value of $810,605.20. Following the sale, the chief operating officer now directly owns 276,886 shares of the company’s stock, valued at $14,805,094.42. The disclosure for this sale can be found here. Insiders have sold a total of 95,320 shares of company stock valued at $5,053,854 over the last ninety days. Insiders own 2.50% of the company’s stock.
Lazard Ltd (LAZ) opened at $56.82 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $7,275.98, a P/E ratio of 30.88, a P/E/G 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.
Lazard (NYSE:LAZ) last posted its earnings results on Thursday, February 1st. The asset manager reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.20. Lazard had a return on equity of 38.93% and a net margin of 9.40%. The business had revenue of $683.00 million during the quarter, compared to the consensus estimate of $658.86 million. During the same quarter last year, the company earned $1.13 EPS. Lazard’s revenue was down .3% on a year-over-year basis. analysts forecast that Lazard Ltd will post 3.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 12th were issued 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 yield of 0.82%. Lazard’s dividend payout ratio is 89.13%.
TRADEMARK VIOLATION NOTICE: “Deutsche Bank AG Increases Holdings in Lazard Ltd (LAZ)” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/03/13/deutsche-bank-ag-increases-holdings-in-lazard-ltd-laz.html.
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.
Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.