Cullen Frost Bankers Inc. maintained its position in Lazard Ltd. (NYSE:LAZ) during the second quarter, Holdings Channel reports. The firm owned 4,894 shares of the asset manager’s stock at the end of the second quarter. Cullen Frost Bankers Inc.’s holdings in Lazard were worth $227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. New York State Teachers Retirement System raised its position in 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 valued at $515,000 after buying an additional 100 shares during the period. Webster Bank N. A. raised its position in Lazard by 0.5% in the first quarter. Webster Bank N. A. now owns 31,947 shares of the asset manager’s stock valued at $1,469,000 after buying an additional 150 shares during the period. United Capital Financial Advisers LLC raised its position in Lazard by 2.7% in the first quarter. United Capital Financial Advisers LLC now owns 7,700 shares of the asset manager’s stock valued at $354,000 after buying an additional 200 shares during the period. Evanson Asset Management LLC raised its position in 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. Finally, Reinhart Partners Inc. raised its position in Lazard by 0.6% in the first quarter. Reinhart Partners Inc. now owns 34,910 shares of the asset manager’s stock valued at $1,606,000 after buying an additional 210 shares during the period. 73.67% of the stock is owned by institutional investors and hedge funds.

Lazard Ltd. (NYSE:LAZ) opened at 44.73 on Thursday. The firm’s 50-day moving average is $46.45 and its 200-day moving average is $44.75. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 12.67 and a beta of 1.84. Lazard Ltd. has a 1-year low of $33.42 and a 1-year high of $48.86.

Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.18. Lazard had a net margin of 17.39% and a return on equity of 39.33%. The business had revenue of $720.16 million for the quarter, compared to analyst estimates of $627.12 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The firm’s quarterly revenue was up 32.8% compared to the same quarter last year. On average, equities analysts anticipate that Lazard Ltd. will post $3.60 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, August 3rd. Lazard’s payout ratio is 46.46%.

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Several research firms have recently commented on LAZ. Zacks Investment Research lowered shares of Lazard from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Credit Suisse Group reaffirmed a “buy” rating and issued a $50.00 price target on shares of Lazard in a report on Friday, April 21st. BidaskClub raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. ValuEngine raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $51.00 price target on shares of Lazard in a report on Tuesday, May 9th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $46.89.

In other news, General Counsel Scott D. Hoffman sold 35,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $45.13, for a total value of $1,579,550.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthieu Bucaille sold 90,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $44.81, for a total transaction of $4,032,900.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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