Janus Henderson Group PLC decreased its stake in Lazard Ltd (NYSE:LAZ) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,700 shares of the asset manager’s stock after selling 7,148 shares during the quarter. Janus Henderson Group PLC owned 0.28% of Lazard worth $17,746,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in LAZ. Alliancebernstein L.P. grew its stake in Lazard by 5.6% in the third quarter. Alliancebernstein L.P. now owns 1,890,440 shares of the asset manager’s stock valued at $90,987,000 after purchasing an additional 100,700 shares in the last quarter. Piedmont Investment Advisors Inc. grew its stake in Lazard by 192,025.0% in the third quarter. Piedmont Investment Advisors Inc. now owns 7,685 shares of the asset manager’s stock valued at $370,000 after purchasing an additional 7,681 shares in the last quarter. Yorktown Management & Research Co Inc bought a new position in Lazard in the third quarter valued at approximately $963,000. Twin Capital Management Inc. grew its stake in Lazard by 10.1% in the third quarter. Twin Capital Management Inc. now owns 78,590 shares of the asset manager’s stock valued at $3,783,000 after purchasing an additional 7,200 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Lazard by 5,033.3% in the third quarter. SG Americas Securities LLC now owns 136,752 shares of the asset manager’s stock valued at $6,582,000 after purchasing an additional 134,088 shares in the last quarter. 71.37% of the stock is currently owned by hedge funds and other institutional investors.
LAZ has been the subject of a number of analyst reports. Zacks Investment Research downgraded Lazard from a “buy” rating to a “hold” rating in a research note on Wednesday, September 26th. Buckingham Research cut their price objective on Lazard from $64.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Goldman Sachs Group assumed coverage on Lazard in a research report on Tuesday, November 6th. They issued a “neutral” rating and a $46.00 price objective for the company. ValuEngine cut Lazard from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, Wolfe Research assumed coverage on Lazard in a research report on Tuesday, September 25th. They issued a “market perform” rating for the company. Two equities 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 has an average rating of “Hold” and a consensus target price of $57.75.
LAZ opened at $35.48 on Friday. Lazard Ltd has a 12-month low of $35.44 and a 12-month high of $60.00. The company has a market capitalization of $4.81 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 1.06 and a beta of 1.85. 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 was paid on Friday, November 16th. Stockholders of record on Monday, November 5th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.96%. Lazard’s payout ratio is 46.56%.
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.
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