Lazard Ltd. (LAZ) Position Boosted by Riverhead Capital Management LLC
Riverhead Capital Management LLC increased its position in shares of Lazard Ltd. (NYSE:LAZ) by 101.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,242 shares of the asset manager’s stock after purchasing an additional 17,760 shares during the period. Riverhead Capital Management LLC’s holdings in Lazard were worth $1,633,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Dividend Assets Capital LLC boosted its stake in shares of Lazard by 0.7% during the 2nd 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 during the period. New York State Teachers Retirement System boosted its stake in shares of Lazard by 0.9% during the 1st 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 during the period. United Capital Financial Advisers LLC boosted its stake in shares of Lazard by 2.7% during the 1st 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 during the period. Evanson Asset Management LLC boosted its stake in shares of Lazard by 0.9% during the 2nd 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 during the period. Finally, Cadence Capital Management LLC boosted its stake in shares of Lazard by 1.6% during the 2nd 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 during the period. 72.15% of the stock is owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “Lazard Ltd. (LAZ) Position Boosted by Riverhead Capital Management LLC” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/09/16/lazard-ltd-laz-position-boosted-by-riverhead-capital-management-llc.html.
Shares of Lazard Ltd. (NYSE LAZ) opened at 41.70 on Friday. The company’s 50-day moving average is $43.26 and its 200-day moving average is $44.65. Lazard Ltd. has a one year low of $33.48 and a one year high of $48.86. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 11.81 and a beta of 1.84.
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, beating the Zacks’ consensus estimate of $0.80 by $0.18. Lazard had a net margin of 17.39% and a return on equity of 39.33%. The firm had revenue of $720.16 million during the quarter, compared to analyst estimates of $627.12 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Lazard’s quarterly revenue was up 32.8% on a year-over-year basis. On average, equities analysts predict that Lazard Ltd. will post $3.52 EPS 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 paid 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 dividend payout ratio (DPR) is presently 46.46%.
A number of equities analysts recently commented on LAZ shares. Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. BidaskClub raised shares of Lazard from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, ValuEngine raised shares of 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 given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $46.89.
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.
Want to see what other hedge funds are holding LAZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lazard Ltd. (NYSE:LAZ).
Receive News & Stock Ratings for Lazard Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard Ltd. and related stocks with our FREE daily email newsletter.