Quantamental Technologies LLC cut its holdings in shares of Lazard Ltd (NYSE:LAZ) by 27.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,955 shares of the asset manager’s stock after selling 735 shares during the quarter. Quantamental Technologies LLC’s holdings in Lazard were worth $67,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Machina Capital S.A.S. purchased a new position in shares of Lazard during the second quarter valued at approximately $53,000. Advisors Asset Management Inc. raised its position in Lazard by 52.3% during the first quarter. Advisors Asset Management Inc. now owns 2,599 shares of the asset manager’s stock valued at $94,000 after acquiring an additional 892 shares in the last quarter. Atria Investments LLC bought a new position in Lazard during the second quarter valued at approximately $199,000. Acadian Asset Management LLC bought a new position in shares of Lazard in the second quarter valued at approximately $240,000. Finally, Gamco Investors INC. ET AL bought a new position in shares of Lazard in the second quarter valued at approximately $282,000. 64.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of LAZ stock traded down $0.02 on Friday, reaching $38.81. The stock had a trading volume of 19,377 shares, compared to its average volume of 563,432. The stock has a market cap of $4.98 billion, a P/E ratio of 9.33 and a beta of 1.72. Lazard Ltd has a 1 year low of $31.07 and a 1 year high of $49.24. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50 day simple moving average of $35.10 and a 200 day simple moving average of $35.78.
Lazard (NYSE:LAZ) last released its earnings results on Thursday, July 25th. The asset manager reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.10. Lazard had a return on equity of 47.09% and a net margin of 14.42%. The company had revenue of $630.00 million for the quarter, compared to the consensus estimate of $604.18 million. During the same period in the previous year, the business earned $1.10 earnings per share. Lazard’s quarterly revenue was down 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that Lazard Ltd will post 3.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Monday, August 5th were issued a $0.47 dividend. The ex-dividend date was Friday, August 2nd. This represents a $1.88 annualized dividend and a dividend yield of 4.84%. Lazard’s dividend payout ratio (DPR) is 45.19%.
A number of equities analysts recently issued reports on LAZ shares. Zacks Investment Research raised shares of Lazard from a “sell” rating to a “hold” rating and set a $40.00 target price on the stock in a research report on Wednesday. UBS Group cut Lazard from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $43.00 to $36.00 in a research note on Monday, June 10th. Finally, Buckingham Research lowered their target price on Lazard from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Lazard has a consensus rating of “Hold” and an average price target of $40.17.
In other Lazard news, CAO Scott D. Hoffman sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $34.04, for a total transaction of $1,021,200.00. Following the sale, the chief accounting officer now directly owns 24,388 shares of the company’s stock, valued at $830,167.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.94% of the company’s stock.
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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