Riverwater Partners LLC Invests $920,000 in Lazard, Inc. $LAZ

Riverwater Partners LLC bought a new stake in shares of Lazard, Inc. (NYSE:LAZ) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,428 shares of the asset manager’s stock, valued at approximately $920,000.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Lazard in the 3rd quarter worth approximately $1,210,000. Westfuller Advisors LLC acquired a new stake in shares of Lazard during the third quarter worth $83,000. Teacher Retirement System of Texas grew its holdings in shares of Lazard by 20.0% during the third quarter. Teacher Retirement System of Texas now owns 43,621 shares of the asset manager’s stock valued at $2,302,000 after buying an additional 7,267 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Lazard by 13.9% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 9,283 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 1,131 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Lazard by 6.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,071 shares of the asset manager’s stock worth $453,000 after acquiring an additional 529 shares during the last quarter. Institutional investors and hedge funds own 54.80% of the company’s stock.

Lazard Trading Up 2.1%

LAZ stock opened at $52.44 on Tuesday. Lazard, Inc. has a 52-week low of $31.97 and a 52-week high of $58.07. 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 firm has a market cap of $5.91 billion, a P/E ratio of 20.73 and a beta of 1.38. The company’s 50-day simple moving average is $50.71 and its 200-day simple moving average is $51.99.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LAZ shares. Keefe, Bruyette & Woods decreased their target price on Lazard from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Lazard in a research note on Monday, December 29th. Zacks Research lowered shares of Lazard from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. BMO Capital Markets assumed coverage on shares of Lazard in a report on Friday, October 3rd. They issued a “market perform” rating and a $56.00 price target on the stock. Finally, Bank of America initiated coverage on Lazard in a research report on Monday. They set a “buy” rating and a $65.00 price target on the stock. Four 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, Lazard presently has a consensus rating of “Hold” and an average target price of $56.13.

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.