Gillespie Robinson & Grimm Inc. purchased a new stake in shares of Lazard Ltd (NYSE:LAZ) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,750 shares of the asset manager’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LAZ. Vanguard Group Inc. raised its holdings in Lazard by 7.4% in the second quarter. Vanguard Group Inc. now owns 10,967,499 shares of the asset manager’s stock worth $508,124,000 after buying an additional 750,941 shares during the last quarter. Voya Investment Management LLC raised its holdings in Lazard by 2.7% in the second quarter. Voya Investment Management LLC now owns 2,207,755 shares of the asset manager’s stock worth $102,286,000 after buying an additional 57,181 shares during the last quarter. BT Investment Management Ltd purchased a new position in Lazard in the second quarter worth about $94,831,000. FMR LLC raised its holdings in Lazard by 35.2% in the second quarter. FMR LLC now owns 1,647,335 shares of the asset manager’s stock worth $76,322,000 after buying an additional 429,046 shares during the last quarter. Finally, AJO LP raised its holdings in Lazard by 20.3% in the second quarter. AJO LP now owns 1,504,194 shares of the asset manager’s stock worth $69,689,000 after buying an additional 254,118 shares during the last quarter. 73.47% of the stock is owned by institutional investors.

Lazard Ltd (LAZ) traded up $0.94 on Wednesday, hitting $57.03. 615,600 shares of the stock traded hands, compared to its average volume of 806,383. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.09 and a quick ratio of 2.09. Lazard Ltd has a 1 year low of $40.22 and a 1 year high of $57.50. The stock has a market capitalization of $7,430.00, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.86 and a beta of 1.89.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.10. Lazard had a net margin of 17.16% and a return on equity of 38.81%. The firm had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $593.19 million. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. equities analysts predict that Lazard Ltd will post 3.58 earnings per share for the current year.

Lazard announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Several brokerages have issued reports on LAZ. Nomura lifted their target price on shares of Lazard from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Buckingham Research cut shares of Lazard from a “buy” rating to a “neutral” rating and set a $54.00 price objective for the company. in a report on Thursday, December 21st. Goldman Sachs Group raised shares of Lazard from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday. Instinet raised shares of Lazard from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $52.67.

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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.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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