Lazard Ltd (LAZ) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. grew its stake in shares of Lazard Ltd (NYSE:LAZ) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214,932 shares of the asset manager’s stock after acquiring an additional 1,675 shares during the period. Macquarie Group Ltd. owned 0.17% of Lazard worth $10,512,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of LAZ. Pendal Group Ltd purchased a new position in shares of Lazard during the 2nd quarter valued at $90,233,000. Acadian Asset Management LLC purchased a new position in shares of Lazard during the 2nd quarter valued at $26,820,000. Bank of Montreal Can purchased a new position in shares of Lazard during the 2nd quarter valued at $21,124,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Lazard during the 2nd quarter valued at $19,564,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Lazard by 459.4% during the 1st quarter. Hsbc Holdings PLC now owns 461,517 shares of the asset manager’s stock valued at $24,258,000 after acquiring an additional 379,018 shares in the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.
Several equities analysts have recently commented on LAZ shares. ValuEngine cut shares of Lazard from a “buy” rating to a “hold” rating in a report on Tuesday, May 29th. Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Finally, TheStreet cut shares of Lazard from a “b” rating to a “c+” rating in a report on Friday, July 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $60.25.
Lazard (NYSE:LAZ) last issued its quarterly earnings data on Thursday, July 26th. The asset manager reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.18. The firm had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $663.44 million. Lazard had a net margin of 11.58% and a return on equity of 47.49%. Lazard’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. equities analysts anticipate that Lazard Ltd will post 4.58 EPS for the current year.
Lazard Company Profile
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.
Read More: What does EPS mean?
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 & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.