Lazard, Inc. $LAZ Shares Acquired by Royce & Associates LP

Royce & Associates LP lifted its position in shares of Lazard, Inc. (NYSE:LAZ) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 896,328 shares of the asset manager’s stock after purchasing an additional 51,191 shares during the period. Royce & Associates LP’s holdings in Lazard were worth $43,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Teza Capital Management LLC grew its holdings in shares of Lazard by 2.4% during the second quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock worth $387,000 after buying an additional 187 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Lazard by 59.5% during the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Lazard by 53.5% during the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after buying an additional 224 shares during the last quarter. Oliver Luxxe Assets LLC grew its holdings in shares of Lazard by 0.5% during the fourth quarter. Oliver Luxxe Assets LLC now owns 47,628 shares of the asset manager’s stock worth $2,313,000 after buying an additional 235 shares during the last quarter. Finally, AMG National Trust Bank grew its holdings in shares of Lazard by 0.6% during the third quarter. AMG National Trust Bank now owns 44,214 shares of the asset manager’s stock worth $2,334,000 after buying an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LAZ shares. The Goldman Sachs Group raised their price target on Lazard from $40.00 to $45.00 and gave the stock a “sell” rating in a report on Tuesday, April 14th. UBS Group lowered their price target on Lazard from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Citigroup reissued an “outperform” rating on shares of Lazard in a report on Friday, April 10th. Argus lowered their price target on Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Finally, Bank of America started coverage on Lazard in a report on Monday, January 26th. 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, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.56.

Lazard Price Performance

Shares of LAZ opened at $48.09 on Tuesday. Lazard, Inc. has a twelve month low of $38.67 and a twelve month high of $58.75. The stock’s 50 day moving average is $44.87 and its two-hundred day moving average is $48.68. The firm has a market capitalization of $5.37 billion, a PE ratio of 19.01, a P/E/G ratio of 0.51 and a beta of 1.44. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.94.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). Lazard had a net margin of 8.47% and a return on equity of 29.30%. The business had revenue of $672.98 million during the quarter, compared to analysts’ expectations of $707.42 million. During the same period in the prior year, the firm posted $0.56 EPS. Lazard’s revenue for the quarter was up 16.8% compared to the same quarter last year. Research analysts anticipate that Lazard, Inc. will post 2.85 earnings per share for the current year.

Lazard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 11th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Monday, May 11th. Lazard’s payout ratio is currently 79.05%.

Insider Buying and Selling

In other Lazard news, CEO Christopher Hogbin sold 3,944 shares of Lazard stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $39.37, for a total value of $155,275.28. Following the sale, the chief executive officer owned 11,829 shares of the company’s stock, valued at approximately $465,707.73. The trade was a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Richard Orszag sold 69,170 shares of Lazard stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $40.76, for a total value of $2,819,369.20. Following the completion of the sale, the chief executive officer directly owned 210,942 shares in the company, valued at $8,597,995.92. This represents a 24.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 80,999 shares of company stock worth $3,292,962 in the last ninety days. 0.95% of the stock is owned by corporate insiders.

Lazard Company 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.