BT Investment Management Ltd Invests $94.83 Million in Lazard Ltd. (LAZ)
BT Investment Management Ltd bought a new stake in Lazard Ltd. (NYSE:LAZ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,046,864 shares of the asset manager’s stock, valued at approximately $94,831,000. Lazard accounts for approximately 1.4% of BT Investment Management Ltd’s investment portfolio, making the stock its 20th largest position. BT Investment Management Ltd owned about 1.58% of Lazard as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC increased its holdings in shares of Lazard by 1,759.2% in the 2nd quarter. JFS Wealth Advisors LLC now owns 3,830 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 3,624 shares during the period. SG Americas Securities LLC acquired a new position in shares of Lazard in the 2nd quarter valued at about $179,000. Suntrust Banks Inc. acquired a new position in shares of Lazard in the 1st quarter valued at about $204,000. Pinnacle Financial Partners Inc. acquired a new position in shares of Lazard in the 2nd quarter valued at about $206,000. Finally, King Wealth Management Group LLC acquired a new position in shares of Lazard in the 1st quarter valued at about $207,000. Institutional investors own 72.15% of the company’s stock.
A number of equities analysts have recently weighed in on LAZ shares. Zacks Investment Research downgraded Lazard from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub upgraded Lazard from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, ValuEngine upgraded Lazard from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $46.89.
Shares of Lazard Ltd. (NYSE:LAZ) traded up 0.87% during trading on Friday, reaching $41.94. The company’s stock had a trading volume of 135,068 shares. The company has a market cap of $5.10 billion, a PE ratio of 11.88 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’s 50 day moving average price is $43.38 and its 200 day moving average price is $44.66.
Lazard (NYSE:LAZ) last released its earnings results on Thursday, July 27th. The asset manager reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.18. The firm had revenue of $720.16 million for the quarter, compared to analysts’ expectations of $627.12 million. Lazard had a return on equity of 39.33% and a net margin of 17.39%. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. Equities research analysts predict that Lazard Ltd. will post $3.52 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, August 3rd. Lazard’s dividend payout ratio (DPR) is 46.46%.
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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