Raymond James Financial Services Advisors Inc. increased its position in shares of Lazard Ltd (NYSE:LAZ) by 9.9% in the third quarter, HoldingsChannel reports. The firm owned 17,545 shares of the asset manager’s stock after purchasing an additional 1,585 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Lazard were worth $804,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Samalin Investment Counsel LLC acquired a new stake in shares of Lazard during the 2nd quarter worth about $33,000. Dark Forest Capital Management LP bought a new stake in Lazard during the 2nd quarter worth about $34,000. Steward Partners Investment Advisory LLC grew its holdings in Lazard by 79.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,126 shares of the asset manager’s stock worth $51,000 after acquiring an additional 500 shares during the last quarter. US Bancorp DE grew its holdings in Lazard by 223.1% during the 2nd quarter. US Bancorp DE now owns 2,252 shares of the asset manager’s stock worth $102,000 after acquiring an additional 1,555 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in Lazard by 24.9% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 2,598 shares of the asset manager’s stock worth $118,000 after acquiring an additional 518 shares during the last quarter. Institutional investors and hedge funds own 75.68% of the company’s stock.
Shares of NYSE:LAZ opened at $44.34 on Friday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 10.05 and a beta of 1.52. The firm’s 50 day simple moving average is $44.84 and its 200 day simple moving average is $46.59. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.79 and a quick ratio of 1.79. Lazard Ltd has a fifty-two week low of $38.68 and a fifty-two week high of $53.00.
The business also recently announced a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, November 8th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, November 5th. This represents a $1.88 annualized dividend and a yield of 4.24%. Lazard’s dividend payout ratio (DPR) is currently 42.63%.
A number of equities research analysts have commented on LAZ shares. Zacks Investment Research lowered shares of Lazard from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a report on Wednesday, September 29th. UBS Group decreased their price objective on shares of Lazard from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Tuesday, January 4th. Morgan Stanley reduced their target price on shares of Lazard from $61.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 8th. Finally, Keefe, Bruyette & Woods raised shares of Lazard from a “market perform” rating to an “outperform” rating and raised their target price for the company from $53.00 to $58.00 in a research note on Thursday, September 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $50.33.
In other Lazard news, CAO Scott D. Hoffman sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 23rd. The shares were sold at an average price of $46.20, for a total transaction of $1,155,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.40% of the company’s stock.
Lazard Company Profile
Lazard Ltd. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients, an array of financial advisory services regarding mergers and acquisitions, restructurings, capital structure, capital raising, and corporate preparedness.
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