MRJ Capital Inc. Acquires Shares of 84,100 Lazard Ltd. (LAZ)
MRJ Capital Inc. acquired a new position in Lazard Ltd. (NYSE:LAZ) during the third quarter, according to its most recent filing with the SEC. The firm acquired 84,100 shares of the asset manager’s stock, valued at approximately $3,803,000. Lazard comprises approximately 2.1% of MRJ Capital Inc.’s holdings, making the stock its 23rd biggest holding. MRJ Capital Inc. owned about 0.06% of Lazard at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lazard in the 3rd quarter worth approximately $263,000. Macquarie Group Ltd. grew its position in shares of Lazard by 4.3% in the 3rd quarter. Macquarie Group Ltd. now owns 197,546 shares of the asset manager’s stock worth $8,933,000 after buying an additional 8,152 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Lazard by 70.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 474,818 shares of the asset manager’s stock worth $21,473,000 after buying an additional 196,575 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Lazard by 148.9% in the 3rd quarter. SG Americas Securities LLC now owns 9,628 shares of the asset manager’s stock worth $435,000 after buying an additional 5,760 shares during the last quarter. Finally, Commerce Bank bought a new stake in shares of Lazard in the 3rd quarter worth approximately $587,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.
LAZ has been the topic of a number of recent analyst reports. Buckingham Research lifted their price objective on Lazard from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. BidaskClub upgraded Lazard from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Zacks Investment Research cut Lazard from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. ValuEngine cut Lazard from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. Finally, Nomura raised their target price on Lazard from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Lazard currently has a consensus rating of “Buy” and a consensus price target of $48.56.
ILLEGAL ACTIVITY NOTICE: “MRJ Capital Inc. Acquires Shares of 84,100 Lazard Ltd. (LAZ)” was first posted by Daily Political and is the sole property of of Daily Political. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.dailypolitical.com/2017/11/20/mrj-capital-inc-acquires-shares-of-84100-lazard-ltd-laz.html.
Lazard Ltd. (NYSE:LAZ) traded up $0.85 during mid-day trading on Monday, hitting $46.95. The stock had a trading volume of 86,029 shares, compared to its average volume of 827,520. Lazard Ltd. has a 52-week low of $38.46 and a 52-week high of $48.86. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $5,980.00, a PE ratio of 12.16, a P/E/G ratio of 1.54 and a beta of 1.89.
Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.10. Lazard had a return on equity of 38.81% and a net margin of 17.16%. The firm had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $593.19 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. analysts expect that Lazard Ltd. will post 3.52 EPS for the current year.
Lazard announced that its Board of Directors has approved a stock buyback program on Wednesday, October 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the asset manager to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Friday, November 3rd. Lazard’s dividend payout ratio is currently 45.81%.
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.
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.