Caisse DE Depot ET Placement DU Quebec acquired a new position in Lazard Ltd (NYSE:LAZ) during the 2nd quarter, Holdings Channel reports. The fund acquired 400,000 shares of the asset manager’s stock, valued at approximately $19,564,000.
A number of other hedge funds have also recently bought and sold shares of the stock. BlueMountain Capital Management LLC raised its position in shares of Lazard by 29.6% during the 2nd quarter. BlueMountain Capital Management LLC now owns 148,939 shares of the asset manager’s stock valued at $7,285,000 after buying an additional 34,011 shares during the period. NumerixS Investment Technologies Inc raised its position in shares of Lazard by 70.6% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,800 shares of the asset manager’s stock valued at $283,000 after buying an additional 2,400 shares during the period. FMR LLC raised its position in shares of Lazard by 1.5% during the 2nd quarter. FMR LLC now owns 3,049,877 shares of the asset manager’s stock valued at $149,169,000 after buying an additional 44,224 shares during the period. Janus Henderson Group PLC raised its position in shares of Lazard by 18.1% during the 2nd quarter. Janus Henderson Group PLC now owns 375,848 shares of the asset manager’s stock valued at $18,383,000 after buying an additional 57,648 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Lazard by 9.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 43,190 shares of the asset manager’s stock valued at $2,113,000 after buying an additional 3,866 shares during the period. Institutional investors own 71.98% of the company’s stock.
Several analysts have recently commented on LAZ shares. ValuEngine lowered shares of Lazard from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th. Zacks Investment Research lowered shares of Lazard from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Finally, TheStreet lowered shares of Lazard from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $60.25.
Shares of NYSE LAZ opened at $46.55 on Friday. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.00 and a beta of 1.79. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.78 and a current ratio of 1.78. Lazard Ltd has a 52-week low of $40.50 and a 52-week high of $60.00.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 26th. The asset manager reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.18. The company had revenue of $741.00 million for the quarter, compared to analyst estimates of $663.44 million. Lazard had a return on equity of 47.49% and a net margin of 11.58%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 earnings per share. analysts predict that Lazard Ltd will post 4.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 6th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Friday, August 3rd. Lazard’s payout ratio is 46.56%.
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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