Lazard Ltd. (LAZ) Position Held by State of Alaska Department of Revenue
State of Alaska Department of Revenue held its stake in Lazard Ltd. (NYSE:LAZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,030 shares of the asset manager’s stock at the end of the second quarter. State of Alaska Department of Revenue’s holdings in Lazard were worth $511,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Lazard during the fourth quarter valued at about $26,117,000. Comerica Bank raised its position in shares of Lazard by 37.7% in the fourth quarter. Comerica Bank now owns 22,650 shares of the asset manager’s stock valued at $931,000 after buying an additional 6,199 shares during the period. Allianz Asset Management AG acquired a new position in shares of Lazard during the fourth quarter valued at about $305,000. UBS Group AG raised its position in shares of Lazard by 84.2% in the first quarter. UBS Group AG now owns 322,512 shares of the asset manager’s stock valued at $14,832,000 after buying an additional 147,436 shares during the period. Finally, Evanson Asset Management LLC raised its position 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 valued at $1,053,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.
Shares of Lazard Ltd. (NYSE LAZ) opened at 47.40 on Friday. The company has a market cap of $5.81 billion, a PE ratio of 14.67 and a beta of 1.84. Lazard Ltd. has a 52-week low of $32.53 and a 52-week high of $47.62. The company’s 50-day moving average is $45.92 and its 200 day moving average is $44.24.
Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, April 27th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. The firm 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 for the quarter was up 23.4% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. On average, analysts anticipate that Lazard Ltd. will post $3.39 EPS for the current year.
Several research analysts have recently issued reports on LAZ shares. BidaskClub raised shares of Lazard from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of Lazard from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, June 7th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $51.00 price objective on shares of Lazard in a research note on Tuesday, May 9th. Finally, Credit Suisse Group reissued a “buy” rating and set a $50.00 price objective on shares of Lazard in a research note on Friday, April 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $46.89.
In other news, CFO Matthieu Bucaille sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $44.81, for a total transaction of $4,032,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Alexander F. Stern sold 65,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $44.75, for a total value of $2,908,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,000 shares of company stock worth $8,521,200. 2.50% of the stock is currently owned by insiders.
Lazard Company Profile
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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