Mirador Capital Partners LP raised its position in Lazard Ltd (NYSE:LAZ) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,179 shares of the asset manager’s stock after purchasing an additional 577 shares during the quarter. Mirador Capital Partners LP’s holdings in Lazard were worth $1,046,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LAZ. HM Payson & Co. acquired a new position in shares of Lazard in the second quarter worth $103,000. AlphaMark Advisors LLC acquired a new position in shares of Lazard in the third quarter worth $103,000. ETF Managers Group LLC acquired a new position in shares of Lazard in the second quarter worth $173,000. Atria Investments LLC acquired a new position in shares of Lazard in the second quarter worth $199,000. Finally, Boyd Watterson Asset Management LLC OH acquired a new position in shares of Lazard in the fourth quarter worth $206,000. 79.25% of the stock is currently owned by institutional investors.
In related news, CAO Scott D. Hoffman sold 40,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $38.25, for a total transaction of $1,530,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dominick Ragone sold 4,293 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.62, for a total transaction of $165,795.66. The disclosure for this sale can be found here. Insiders own 2.94% of the company’s stock.
Several equities analysts have commented on LAZ shares. ValuEngine upgraded shares of Lazard from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. Zacks Investment Research upgraded shares of Lazard from a “strong sell” rating to a “hold” rating and set a $42.00 price target for the company in a research note on Thursday, January 2nd. Wolfe Research upgraded shares of Lazard from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 6th. Morgan Stanley started coverage on shares of Lazard in a research note on Wednesday, November 27th. They issued an “underweight” rating and a $35.00 price target for the company. Finally, Buckingham Research boosted their price target on shares of Lazard from $40.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.20.
Shares of LAZ stock traded up $0.02 on Friday, reaching $44.57. 186,992 shares of the stock were exchanged, compared to its average volume of 1,142,909. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 3.40. The business’s 50 day moving average price is $39.99 and its 200 day moving average price is $37.02. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 10.71 and a beta of 1.72. Lazard Ltd has a twelve month low of $31.07 and a twelve month high of $44.95.
Lazard (NYSE:LAZ) last issued its earnings results on Thursday, October 31st. The asset manager reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $588.00 million during the quarter, compared to the consensus estimate of $612.98 million. Lazard had a net margin of 12.29% and a return on equity of 50.66%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Equities research analysts forecast that Lazard Ltd will post 3.12 earnings per share for the current year.
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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