Stoneridge Investment Partners LLC Has $362,000 Position in Lazard Ltd. (LAZ)
Stoneridge Investment Partners LLC lowered its stake in shares of Lazard Ltd. (NYSE:LAZ) by 55.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,806 shares of the asset manager’s stock after selling 9,835 shares during the period. Stoneridge Investment Partners LLC’s holdings in Lazard were worth $362,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in LAZ. UBS Group AG increased 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. Evanson Asset Management LLC increased 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. Neuberger Berman Group LLC bought a new position in shares of Lazard during the first quarter valued at approximately $335,000. CENTRAL TRUST Co increased its position in shares of Lazard by 558.7% in the first quarter. CENTRAL TRUST Co now owns 3,537 shares of the asset manager’s stock valued at $163,000 after buying an additional 3,000 shares during the period. Finally, RWC Asset Management LLP increased its position in shares of Lazard by 62.6% in the first quarter. RWC Asset Management LLP now owns 529,113 shares of the asset manager’s stock valued at $24,334,000 after buying an additional 203,691 shares during the period. Institutional investors own 73.67% of the company’s stock.
Shares of Lazard Ltd. (NYSE:LAZ) opened at 43.14 on Friday. The company has a market capitalization of $5.25 billion, a PE ratio of 12.22 and a beta of 1.84. Lazard Ltd. has a 52-week low of $33.48 and a 52-week high of $48.86. The stock has a 50 day moving average price of $46.29 and a 200 day moving average price of $44.76.
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 analysts’ consensus estimates of $0.80 by $0.18. The business had revenue of $720.16 million for the quarter, compared to analyst estimates of $627.12 million. Lazard had a return on equity of 39.33% and a net margin of 17.39%. The firm’s revenue was up 32.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. On average, analysts predict that Lazard Ltd. will post $3.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Thursday, August 3rd. Lazard’s payout ratio is presently 46.46%.
COPYRIGHT VIOLATION WARNING: “Stoneridge Investment Partners LLC Has $362,000 Position in Lazard Ltd. (LAZ)” was posted by Daily Political and is the property of of Daily Political. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.dailypolitical.com/2017/08/12/stoneridge-investment-partners-llc-has-362000-position-in-lazard-ltd-laz.html.
Several equities analysts have commented on LAZ shares. BidaskClub upgraded Lazard from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Zacks Investment Research raised Lazard from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Wednesday, June 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $51.00 price objective on shares of Lazard in a research report on Tuesday, May 9th. ValuEngine raised Lazard from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $50.00 price objective on shares of Lazard in a research report on Friday, April 21st. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lazard presently has a consensus rating of “Buy” and a consensus price target of $46.89.
In related news, General Counsel Scott D. Hoffman sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $45.13, for a total transaction of $1,579,550.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $4,032,900.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding LAZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lazard Ltd. (NYSE:LAZ).
Receive News & Ratings for Lazard Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.