Teachers Advisors LLC Increases Position in Lazard Ltd. (LAZ)
Teachers Advisors LLC increased its stake in shares of Lazard Ltd. (NYSE:LAZ) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 943,591 shares of the asset manager’s stock after acquiring an additional 96,064 shares during the quarter. Teachers Advisors LLC owned about 0.73% of Lazard worth $43,717,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its position in Lazard by 1,759.2% during the second quarter. JFS Wealth Advisors LLC now owns 3,830 shares of the asset manager’s stock worth $177,000 after acquiring an additional 3,624 shares during the period. SG Americas Securities LLC bought a new position in Lazard during the second quarter worth $179,000. Suntrust Banks Inc. bought a new position in Lazard during the first quarter worth $204,000. Pinnacle Financial Partners Inc. bought a new position in Lazard during the second quarter worth $206,000. Finally, King Wealth Management Group LLC bought a new position in Lazard during the first quarter worth $207,000. 72.14% of the stock is currently owned by institutional investors and hedge funds.
LAZ has been the topic of a number of research reports. BidaskClub lowered shares of Lazard from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. ValuEngine lowered shares of Lazard from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Zacks Investment Research raised shares of Lazard from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, June 7th. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Lazard currently has a consensus rating of “Buy” and an average price target of $46.89.
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Shares of Lazard Ltd. (LAZ) opened at 41.70 on Monday. The firm has a 50-day moving average of $43.26 and a 200 day moving average of $44.65. 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 Ltd. has a one year low of $33.48 and a one year high of $48.86.
Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, July 27th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. Lazard had a return on equity of 39.33% and a net margin of 17.39%. The business had revenue of $720.16 million during the quarter, compared to the consensus estimate of $627.12 million. During the same quarter last year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 32.8% on a year-over-year basis. Equities research analysts anticipate that Lazard Ltd. will post $3.52 EPS for the current year.
Lazard Company Profile
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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