Van Berkom & Associates Inc. Invests $2.92 Million in Lazard, Inc. $LAZ

Van Berkom & Associates Inc. purchased a new position in Lazard, Inc. (NYSE:LAZ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 55,331 shares of the asset manager’s stock, valued at approximately $2,920,000.

Several other large investors also recently added to or reduced their stakes in LAZ. AQR Capital Management LLC increased its position in shares of Lazard by 131.8% during the first quarter. AQR Capital Management LLC now owns 12,563 shares of the asset manager’s stock worth $544,000 after acquiring an additional 7,144 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Lazard by 27.5% in the first quarter. Goldman Sachs Group Inc. now owns 759,867 shares of the asset manager’s stock valued at $32,902,000 after purchasing an additional 163,983 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Lazard by 8.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,288 shares of the asset manager’s stock worth $10,318,000 after purchasing an additional 18,444 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Lazard by 34.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,542 shares of the asset manager’s stock worth $430,000 after purchasing an additional 2,192 shares during the period. Finally, Truist Financial Corp increased its holdings in Lazard by 1.2% during the 2nd quarter. Truist Financial Corp now owns 25,191 shares of the asset manager’s stock worth $1,209,000 after purchasing an additional 302 shares during the period. 54.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LAZ shares. Keefe, Bruyette & Woods upped their target price on Lazard from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Zacks Research lowered shares of Lazard from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Morgan Stanley cut their target price on shares of Lazard from $61.00 to $59.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Lazard in a report on Monday, December 29th. Finally, The Goldman Sachs Group set a $46.00 price target on shares of Lazard and gave the stock a “sell” rating in a research report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.13.

Lazard Stock Down 2.5%

Shares of Lazard stock opened at $52.48 on Wednesday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 1.92. The company has a market cap of $5.92 billion, a P/E ratio of 24.07, a PEG ratio of 0.42 and a beta of 1.38. The firm’s 50 day moving average price is $51.36 and its 200-day moving average price is $51.99. Lazard, Inc. has a 52-week low of $31.97 and a 52-week high of $58.07.

Lazard (NYSE:LAZ) last announced its earnings results on Thursday, January 29th. The asset manager reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.12. The company had revenue of $892.00 million during the quarter, compared to the consensus estimate of $876.32 million. Lazard had a net margin of 7.49% and a return on equity of 34.54%. Lazard’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. On average, sell-side analysts predict that Lazard, Inc. will post 4.24 EPS for the current fiscal year.

Lazard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Monday, February 9th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, February 9th. Lazard’s payout ratio is 91.74%.

About Lazard

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.