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.

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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 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.

Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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