Lazard, Inc. $LAZ Shares Bought by UBS Group AG

UBS Group AG raised its holdings in Lazard, Inc. (NYSE:LAZ) by 97.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 332,333 shares of the asset manager’s stock after purchasing an additional 164,168 shares during the quarter. UBS Group AG owned about 0.29% of Lazard worth $16,138,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Teza Capital Management LLC increased its stake in Lazard by 2.4% in the second quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock valued at $387,000 after purchasing an additional 187 shares during the period. Sound Income Strategies LLC increased its stake in Lazard by 59.5% in the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares during the period. IFP Advisors Inc increased its stake in Lazard by 53.5% in the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares during the period. Oliver Luxxe Assets LLC increased its stake in Lazard by 0.5% in the fourth quarter. Oliver Luxxe Assets LLC now owns 47,628 shares of the asset manager’s stock valued at $2,313,000 after purchasing an additional 235 shares during the period. Finally, AMG National Trust Bank increased its stake in Lazard by 0.6% in the third quarter. AMG National Trust Bank now owns 44,214 shares of the asset manager’s stock valued at $2,334,000 after purchasing an additional 267 shares during the period. 54.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America assumed coverage on shares of Lazard in a research note on Monday, January 26th. They issued a “buy” rating and a $65.00 price objective on the stock. UBS Group dropped their price objective on shares of Lazard from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Keefe, Bruyette & Woods lifted their price objective on shares of Lazard from $47.00 to $49.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Morgan Stanley dropped their price objective on shares of Lazard from $59.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. Finally, Zacks Research lowered shares of Lazard from a “hold” rating to a “strong sell” rating in a research note on Friday, April 10th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Lazard has an average rating of “Hold” and a consensus price target of $52.56.

Insider Transactions at Lazard

In related news, CEO Christopher Hogbin sold 3,944 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $39.37, for a total value of $155,275.28. Following the completion of the sale, the chief executive officer owned 11,829 shares in the company, valued at $465,707.73. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Peter Richard Orszag sold 69,170 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $40.76, for a total transaction of $2,819,369.20. Following the sale, the chief executive officer directly owned 210,942 shares in the company, valued at approximately $8,597,995.92. This represents a 24.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 80,999 shares of company stock valued at $3,292,962. 0.95% of the stock is owned by insiders.

Lazard Price Performance

Shares of NYSE:LAZ opened at $46.10 on Wednesday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.94. The company has a market cap of $5.15 billion, a P/E ratio of 18.22, a PEG ratio of 0.49 and a beta of 1.44. Lazard, Inc. has a 52 week low of $38.67 and a 52 week high of $58.75. The company has a 50-day moving average price of $44.69 and a 200 day moving average price of $48.83.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). The firm had revenue of $672.98 million during the quarter, compared to analyst estimates of $707.42 million. Lazard had a net margin of 8.47% and a return on equity of 29.30%. Lazard’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. Research analysts predict that Lazard, Inc. will post 2.85 earnings per share for the current year.

Lazard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 11th will be given a $0.50 dividend. The ex-dividend date is Monday, May 11th. This represents a $2.00 dividend on an annualized basis and a yield of 4.3%. Lazard’s dividend payout ratio (DPR) is presently 79.05%.

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.