Lazard Ltd (LAZ) Holdings Lessened by Acadian Asset Management LLC

Acadian Asset Management LLC reduced its holdings in Lazard Ltd (NYSE:LAZ) by 87.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,088 shares of the asset manager’s stock after selling 480,292 shares during the quarter. Acadian Asset Management LLC owned 0.05% of Lazard worth $3,277,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LAZ. Oppenheimer & Co. Inc. boosted its position in Lazard by 5.7% during the third quarter. Oppenheimer & Co. Inc. now owns 45,667 shares of the asset manager’s stock valued at $2,198,000 after purchasing an additional 2,477 shares during the last quarter. Shufro Rose & Co. LLC boosted its position in Lazard by 29.1% during the third quarter. Shufro Rose & Co. LLC now owns 10,650 shares of the asset manager’s stock valued at $513,000 after purchasing an additional 2,400 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Lazard by 13.7% during the third quarter. Russell Investments Group Ltd. now owns 176,140 shares of the asset manager’s stock valued at $8,477,000 after purchasing an additional 21,185 shares during the last quarter. Fisher Asset Management LLC boosted its position in Lazard by 8.2% during the third quarter. Fisher Asset Management LLC now owns 1,566,056 shares of the asset manager’s stock valued at $75,374,000 after purchasing an additional 119,261 shares during the last quarter. Finally, Calamos Advisors LLC acquired a new position in Lazard during the third quarter valued at approximately $278,000. Institutional investors own 71.59% of the company’s stock.

Several brokerages recently commented on LAZ. Buckingham Research reduced their price target on Lazard from $64.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Zacks Investment Research raised Lazard from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, July 31st. Goldman Sachs Group began coverage on Lazard in a research report on Tuesday. They set a “neutral” rating and a $46.00 price target for the company. TheStreet cut Lazard from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Finally, Wolfe Research began coverage on Lazard in a research report on Tuesday, September 25th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.75.

LAZ opened at $40.32 on Friday. Lazard Ltd has a 12-month low of $37.75 and a 12-month high of $60.00. The company has a market capitalization of $5.41 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 1.19 and a beta of 1.86. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 1.28.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, October 25th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.07). Lazard had a net margin of 11.49% and a return on equity of 49.98%. The business had revenue of $605.61 million during the quarter. As a group, equities research analysts anticipate that Lazard Ltd will post 4.26 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Monday, November 5th will be given a $0.44 dividend. The ex-dividend date is Friday, November 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.37%. Lazard’s payout ratio is 46.56%.

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Lazard Profile

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.

Further Reading: Understanding each part of a balance sheet

Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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