MUFG Americas Holdings Corp decreased its holdings in shares of Lazard Ltd (NYSE:LAZ) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,095 shares of the asset manager’s stock after selling 1,183 shares during the period. MUFG Americas Holdings Corp’s holdings in Lazard were worth $320,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in LAZ. PNC Financial Services Group Inc. lifted its stake in Lazard by 9.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,701 shares of the asset manager’s stock worth $172,000 after purchasing an additional 306 shares during the period. UBS Asset Management Americas Inc. lifted its stake in Lazard by 2.7% during the second quarter. UBS Asset Management Americas Inc. now owns 19,025 shares of the asset manager’s stock worth $881,000 after purchasing an additional 500 shares during the period. Dimensional Fund Advisors LP bought a new position in Lazard during the second quarter worth about $16,208,000. Janus Henderson Group PLC lifted its stake in Lazard by 277.4% during the second quarter. Janus Henderson Group PLC now owns 148,154 shares of the asset manager’s stock worth $6,863,000 after purchasing an additional 108,900 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Lazard in the second quarter valued at approximately $547,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.
Shares of Lazard Ltd (NYSE:LAZ) opened at $55.40 on Tuesday. 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 firm has a market cap of $7,189.04, a P/E ratio of 14.66, a P/E/G ratio of 1.31 and a beta of 1.84. Lazard Ltd has a fifty-two week low of $40.50 and a fifty-two week high of $60.00.
Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, February 1st. The asset manager reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.20. The business had revenue of $683.00 million during the quarter, compared to analyst estimates of $658.86 million. Lazard had a net margin of 9.40% and a return on equity of 38.66%. Lazard’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. research analysts expect that Lazard Ltd will post 3.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 12th will be issued a $0.116 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, February 9th. Lazard’s dividend payout ratio is currently 89.13%.
Lazard announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of research analysts have recently issued reports on LAZ shares. Zacks Investment Research upgraded shares of Lazard from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research note on Monday, October 23rd. Buckingham Research lifted their target price on shares of Lazard from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Nomura upgraded shares of Lazard from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $62.00 in a research note on Wednesday, January 3rd. Instinet upgraded shares of Lazard from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Goldman Sachs Group upgraded shares of Lazard from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $60.56.
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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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