Lazard Ltd (LAZ) Holdings Raised by Steinberg Global Asset Management

Steinberg Global Asset Management boosted its holdings in shares of Lazard Ltd (NYSE:LAZ) by 158.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,188 shares of the asset manager’s stock after acquiring an additional 38,754 shares during the quarter. Steinberg Global Asset Management’s holdings in Lazard were worth $3,321,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Lazard by 1.1% during the third quarter. Vanguard Group Inc. now owns 10,982,773 shares of the asset manager’s stock worth $528,601,000 after acquiring an additional 114,709 shares during the last quarter. Vanguard Group Inc increased its stake in Lazard by 1.1% during the third quarter. Vanguard Group Inc now owns 10,982,773 shares of the asset manager’s stock worth $528,601,000 after acquiring an additional 114,709 shares during the last quarter. BlackRock Inc. increased its stake in Lazard by 6.0% during the fourth quarter. BlackRock Inc. now owns 5,035,422 shares of the asset manager’s stock worth $185,858,000 after acquiring an additional 285,162 shares during the last quarter. Morgan Stanley increased its stake in Lazard by 22.0% during the third quarter. Morgan Stanley now owns 2,909,856 shares of the asset manager’s stock worth $140,051,000 after acquiring an additional 524,953 shares during the last quarter. Finally, FMR LLC increased its stake in Lazard by 12.5% during the fourth quarter. FMR LLC now owns 2,574,292 shares of the asset manager’s stock worth $95,017,000 after acquiring an additional 286,464 shares during the last quarter. 68.71% of the stock is owned by institutional investors.

LAZ has been the subject of several recent analyst reports. Wolfe Research cut Lazard from a “market perform” rating to an “underperform” rating in a research note on Tuesday, January 8th. Keefe, Bruyette & Woods reissued a “mkt perform” rating and set a $41.00 target price on shares of Lazard in a research note on Friday, January 4th. ValuEngine cut Lazard from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 5th. Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, TheStreet upgraded Lazard from a “c” rating to a “b-” rating in a research report on Wednesday, February 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $50.33.

Shares of LAZ traded down $0.52 during midday trading on Monday, hitting $38.12. 857,706 shares of the stock were exchanged, compared to its average volume of 1,032,653. Lazard Ltd has a 52-week low of $33.54 and a 52-week high of $56.30. The firm has a market cap of $5.00 billion, a P/E ratio of 9.16, a P/E/G ratio of 2.51 and a beta of 1.59. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Tuesday, February 5th. The asset manager reported $0.94 EPS for the quarter, hitting the consensus estimate of $0.94. Lazard had a return on equity of 50.62% and a net margin of 18.27%. The business had revenue of $685.00 million during the quarter, compared to analyst estimates of $673.35 million. During the same period last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts expect that Lazard Ltd will post 3.57 earnings per share for the current year.

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Lazard Company 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.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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