Chemical Bank grew its holdings in Lazard Ltd. (NYSE:LAZ) by 0.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,320 shares of the asset manager’s stock after purchasing an additional 5 shares during the quarter. Chemical Bank’s holdings in Lazard were worth $293,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Dividend Assets Capital LLC boosted its stake in Lazard by 0.7% in the second quarter. Dividend Assets Capital LLC now owns 10,255 shares of the asset manager’s stock worth $475,000 after purchasing an additional 75 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Lazard by 0.9% in the first quarter. New York State Teachers Retirement System now owns 11,200 shares of the asset manager’s stock worth $515,000 after purchasing an additional 100 shares in the last quarter. United Capital Financial Advisers LLC boosted its stake in Lazard by 2.7% in the first quarter. United Capital Financial Advisers LLC now owns 7,700 shares of the asset manager’s stock worth $354,000 after purchasing an additional 200 shares in the last quarter. Evanson Asset Management LLC boosted its stake in Lazard by 0.9% in the second quarter. Evanson Asset Management LLC now owns 23,117 shares of the asset manager’s stock worth $1,071,000 after purchasing an additional 212 shares in the last quarter. Finally, Cadence Capital Management LLC boosted its stake in Lazard by 1.6% in the second quarter. Cadence Capital Management LLC now owns 14,755 shares of the asset manager’s stock worth $684,000 after purchasing an additional 232 shares in the last quarter. 72.15% of the stock is currently owned by institutional investors.
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A number of equities analysts have commented on the company. Zacks Investment Research lowered Lazard from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub raised Lazard from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Finally, ValuEngine raised Lazard from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $46.89.
Shares of Lazard Ltd. (LAZ) opened at 41.70 on Friday. The company has a market cap of $5.07 billion, a P/E ratio of 11.81 and a beta of 1.84. The company has a 50-day moving average price of $43.26 and a 200-day moving average price of $44.65. Lazard Ltd. has a 12-month low of $33.48 and a 12-month high of $48.86.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.18. The firm had revenue of $720.16 million for the quarter, compared to the consensus estimate of $627.12 million. Lazard had a return on equity of 39.33% and a net margin of 17.39%. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. On average, analysts predict that Lazard Ltd. will post $3.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Thursday, August 3rd. Lazard’s payout ratio is presently 46.46%.
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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