Lazard, Inc. $LAZ Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC decreased its holdings in Lazard, Inc. (NYSE:LAZ) by 46.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,638 shares of the asset manager’s stock after selling 21,927 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Lazard were worth $1,075,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LAZ. Kestra Advisory Services LLC acquired a new stake in Lazard in the fourth quarter worth about $26,000. Sound Income Strategies LLC increased its stake in Lazard by 59.5% during the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after buying an additional 220 shares during the period. IFP Advisors Inc increased its stake in Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after buying an additional 224 shares during the period. Quest 10 Wealth Builders Inc. bought a new stake in shares of Lazard during the 4th quarter worth about $32,000. Finally, State of Wyoming acquired a new stake in shares of Lazard in the 2nd quarter worth approximately $38,000. 54.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LAZ. The Goldman Sachs Group reiterated a “sell” rating on shares of Lazard in a report on Thursday, July 23rd. Argus dropped their target price on Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Zacks Research downgraded Lazard from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. UBS Group reaffirmed a “neutral” rating and set a $44.00 price target on shares of Lazard in a research note on Tuesday, June 9th. Finally, Weiss Ratings cut Lazard from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lazard has a consensus rating of “Hold” and a consensus target price of $50.38.

Lazard Price Performance

Shares of NYSE LAZ opened at $44.09 on Monday. Lazard, Inc. has a twelve month low of $38.67 and a twelve month high of $58.75. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 1.87. The firm has a 50-day moving average of $43.32 and a two-hundred day moving average of $46.11. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 0.93 and a beta of 1.43.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Friday, July 24th. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.22). Lazard had a return on equity of 23.58% and a net margin of 6.95%.The business had revenue of $786.47 million during the quarter, compared to analyst estimates of $736.29 million. During the same period in the prior year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts expect that Lazard, Inc. will post 2.18 earnings per share for the current fiscal year.

Lazard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, August 3rd. Lazard’s dividend payout ratio (DPR) is presently 98.04%.

Lazard Profile

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.