Janus Capital Management LLC purchased a new position in shares of Lazard Ltd. (NYSE:LAZ) during the first quarter, according to its most recent filing with the SEC. The firm purchased 11,400 shares of the asset manager’s stock, valued at approximately $524,000.
A number of other hedge funds have also recently made changes to their positions in the stock. HighTower Advisors LLC boosted its stake in shares of Lazard by 24.0% in the first quarter. HighTower Advisors LLC now owns 8,601 shares of the asset manager’s stock worth $394,000 after buying an additional 1,666 shares in the last quarter. Credit Suisse AG boosted its stake in Lazard by 64.7% in the first quarter. Credit Suisse AG now owns 55,494 shares of the asset manager’s stock worth $2,552,000 after buying an additional 21,791 shares in the last quarter. Blue Harbour Group L.P. boosted its stake in Lazard by 23.4% in the first quarter. Blue Harbour Group L.P. now owns 1,720,041 shares of the asset manager’s stock worth $79,105,000 after buying an additional 326,683 shares in the last quarter. State Street Corp boosted its stake in Lazard by 8.9% in the first quarter. State Street Corp now owns 1,713,338 shares of the asset manager’s stock worth $78,795,000 after buying an additional 140,406 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Lazard by 8.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 641,579 shares of the asset manager’s stock worth $29,507,000 after buying an additional 50,274 shares in the last quarter. Hedge funds and other institutional investors own 73.67% of the company’s stock.
Shares of Lazard Ltd. (NYSE LAZ) opened at 47.40 on Monday. The stock has a 50 day moving average of $45.92 and a 200 day moving average of $44.24. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 14.67 and a beta of 1.84. Lazard Ltd. has a 1-year low of $32.53 and a 1-year high of $47.62.
Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, April 27th. The asset manager reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $624.43 million during the quarter, compared to analyst estimates of $611.43 million. Lazard had a return on equity of 36.15% and a net margin of 17.06%. The firm’s revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. Analysts predict that Lazard Ltd. will post $3.39 EPS for the current year.
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A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a “buy” rating on shares of Lazard in a research note on Tuesday, April 4th. Zacks Investment Research lowered shares of Lazard from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BidaskClub raised shares of Lazard from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Credit Suisse Group reissued a “buy” rating and issued a $50.00 target price on shares of Lazard in a report on Friday, April 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $46.89.
In other Lazard news, COO Alexander F. Stern sold 65,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $44.75, for a total transaction of $2,908,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthieu Bucaille sold 90,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $44.81, for a total value of $4,032,900.00. The disclosure for this sale can be found here. Insiders have sold 190,000 shares of company stock valued at $8,521,200 in the last three months. Insiders own 2.50% of the company’s stock.
Lazard Company Profile
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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