Global Thematic Partners LLC reduced its position in shares of Lazard Ltd (NYSE:LAZ) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 328,582 shares of the asset manager’s stock after selling 2,408 shares during the period. Global Thematic Partners LLC owned 0.25% of Lazard worth $11,301,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alpha Omega Wealth Management LLC raised its stake in shares of Lazard by 111.3% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 1,253 shares of the asset manager’s stock valued at $45,000 after buying an additional 660 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of Lazard in the 2nd quarter valued at $53,000. Advisors Asset Management Inc. raised its stake in shares of Lazard by 52.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,599 shares of the asset manager’s stock valued at $94,000 after buying an additional 892 shares in the last quarter. Quantamental Technologies LLC acquired a new position in shares of Lazard in the 1st quarter valued at $97,000. Finally, Oakbrook Investments LLC acquired a new position in shares of Lazard in the 1st quarter valued at $217,000. 65.55% of the stock is owned by institutional investors and hedge funds.
Shares of LAZ traded down $0.05 during trading hours on Friday, hitting $38.59. The stock had a trading volume of 48,468 shares, compared to its average volume of 729,406. The company’s fifty day moving average price is $35.08. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.77 and a quick ratio of 1.77. Lazard Ltd has a 52 week low of $31.07 and a 52 week high of $54.64. The stock has a market capitalization of $4.90 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 7.53 and a beta of 1.67.
Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 25th. The asset manager reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.10. Lazard had a net margin of 16.72% and a return on equity of 48.17%. The business had revenue of $630.00 million for the quarter, compared to analyst estimates of $604.18 million. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm’s quarterly revenue was down 15.0% compared to the same quarter last year. On average, analysts anticipate that Lazard Ltd will post 3.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Friday, August 2nd. Lazard’s dividend payout ratio is currently 45.19%.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Apollo Endosurgery from a “hold” rating to a “sell” rating in a research note on Friday. Bank of America set a $7.00 price objective on shares of Deutsche Bank and gave the company a “sell” rating in a research note on Thursday, April 11th. Buckingham Research dropped their price objective on shares of PJT Partners from $49.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, UBS Group raised shares of China Unicom (Hong Kong) from a “neutral” rating to a “buy” rating in a report on Monday, June 10th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $40.33.
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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