Sheets Smith Wealth Management boosted its position in shares of Lazard Ltd. (NYSE:LAZ) by 31.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 38,000 shares of the asset manager’s stock after buying an additional 9,000 shares during the period. Sheets Smith Wealth Management’s holdings in Lazard were worth $1,761,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. New York State Teachers Retirement System boosted its stake in shares of Lazard by 0.9% in the first quarter. New York State Teachers Retirement System now owns 11,200 shares of the asset manager’s stock worth $515,000 after buying an additional 100 shares during the last quarter. Webster Bank N. A. boosted its stake in shares of Lazard by 0.5% in the first quarter. Webster Bank N. A. now owns 31,947 shares of the asset manager’s stock worth $1,469,000 after buying an additional 150 shares during the last quarter. United Capital Financial Advisers LLC boosted its stake in shares of Lazard by 2.7% in the first quarter. United Capital Financial Advisers LLC now owns 7,700 shares of the asset manager’s stock worth $354,000 after buying an additional 200 shares during the last quarter. Evanson Asset Management LLC boosted its stake in shares of Lazard by 0.9% in the first quarter. Evanson Asset Management LLC now owns 22,905 shares of the asset manager’s stock worth $1,053,000 after buying an additional 201 shares during the last quarter. Finally, Reinhart Partners Inc. boosted its stake in shares of Lazard by 0.6% in the first quarter. Reinhart Partners Inc. now owns 34,910 shares of the asset manager’s stock worth $1,606,000 after buying an additional 210 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Lazard Ltd. (NYSE:LAZ) remained flat at $47.02 on Friday. The company’s stock had a trading volume of 169,870 shares. Lazard Ltd. has a 1-year low of $32.53 and a 1-year high of $47.62. The stock has a market cap of $5.77 billion, a PE ratio of 14.55 and a beta of 1.84. The stock’s 50 day moving average price is $45.92 and its 200-day moving average price is $44.24.

Lazard (NYSE:LAZ) last announced its earnings results on Thursday, April 27th. The asset manager reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The company had revenue of $624.43 million during the quarter, compared to the consensus estimate of $611.43 million. Lazard had a return on equity of 36.15% and a net margin of 17.06%. The company’s revenue was up 23.4% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. On average, equities research analysts anticipate that Lazard Ltd. will post $3.39 earnings per share for the current year.

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A number of equities research analysts have recently weighed in on the company. Credit Suisse Group reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Lazard in a research note on Friday, April 21st. Zacks Investment Research cut Lazard from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Lazard in a research note on Tuesday, April 4th. BidaskClub raised Lazard from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation raised Lazard from an “underperform” rating to a “neutral” rating and set a $47.00 price objective for the company in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $46.89.

In other news, COO Alexander F. Stern sold 65,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $44.75, for a total transaction of $2,908,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Scott D. Hoffman sold 35,000 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $45.13, for a total transaction of $1,579,550.00. The disclosure for this sale can be found here. Insiders have sold 190,000 shares of company stock valued at $8,521,200 over the last 90 days. Insiders own 2.50% of the company’s stock.

About Lazard

Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters to corporate, partnership, institutional, government, sovereign and individual clients.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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