Rational Advisors LLC Invests $292,000 in Lazard Ltd. (LAZ)
Rational Advisors LLC bought a new position in shares of Lazard Ltd. (NYSE:LAZ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,300 shares of the asset manager’s stock, valued at approximately $292,000.
Several other large investors also recently added to or reduced their stakes in the stock. CENTRAL TRUST Co raised its stake in Lazard by 558.7% in the first quarter. CENTRAL TRUST Co now owns 3,537 shares of the asset manager’s stock worth $163,000 after buying an additional 3,000 shares during the period. JFS Wealth Advisors LLC raised its stake in Lazard by 1,759.2% in the second quarter. JFS Wealth Advisors LLC now owns 3,830 shares of the asset manager’s stock worth $177,000 after buying an additional 3,624 shares during the period. Pinnacle Financial Partners Inc. bought a new stake in Lazard during the second quarter worth $206,000. Suntrust Banks Inc. bought a new stake in Lazard during the first quarter worth $204,000. Finally, King Wealth Management Group LLC bought a new stake in Lazard during the first quarter worth $207,000. 69.05% of the stock is owned by institutional investors.
Lazard Ltd. (LAZ) opened at 43.14 on Monday. The stock has a market cap of $5.25 billion, a P/E ratio of 12.22 and a beta of 1.84. Lazard Ltd. has a one year low of $33.48 and a one year high of $48.86. The company’s 50-day moving average price is $46.29 and its 200-day moving average price is $44.76.
Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.18. The business had revenue of $720.16 million during the quarter, compared to the consensus estimate of $627.12 million. Lazard had a net margin of 17.39% and a return on equity of 39.33%. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. Analysts forecast that Lazard Ltd. will post $3.60 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.80%. The ex-dividend date is Thursday, August 3rd. Lazard’s payout ratio is currently 46.46%.
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A number of research firms have recently weighed in on LAZ. ValuEngine raised Lazard from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. BidaskClub lowered Lazard from a “strong-buy” rating to a “buy” rating in a research note on Friday. Zacks Investment Research lowered Lazard from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $51.00 target price on shares of Lazard in a research note on Tuesday, May 9th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $50.00 target price on shares of Lazard in a research note on Friday, April 21st. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Lazard has a consensus rating of “Buy” and an average target price of $46.89.
In other Lazard news, General Counsel Scott D. Hoffman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $45.13, for a total value of $1,579,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthieu Bucaille sold 90,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $44.81, for a total transaction of $4,032,900.00. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
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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