Bigelow Investment Advisors LLC reduced its holdings in Lazard Ltd (NYSE:LAZ) by 29.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,825 shares of the asset manager’s stock after selling 2,050 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Lazard were worth $232,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Thornburg Investment Management Inc. acquired a new position in Lazard in the third quarter valued at approximately $56,733,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Lazard by 241.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,345 shares of the asset manager’s stock valued at $1,364,000 after buying an additional 20,041 shares during the period. Usca Ria LLC acquired a new position in Lazard in the third quarter valued at approximately $2,537,000. Wells Fargo & Company MN lifted its holdings in Lazard by 2.6% in the third quarter. Wells Fargo & Company MN now owns 310,908 shares of the asset manager’s stock valued at $14,964,000 after buying an additional 7,776 shares during the period. Finally, Foster & Motley Inc. acquired a new position in Lazard in the third quarter valued at approximately $261,000. Institutional investors and hedge funds own 71.59% of the company’s stock.
Shares of LAZ stock opened at $41.25 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 1.28. Lazard Ltd has a 12-month low of $37.75 and a 12-month high of $60.00. The firm has a market cap of $5.33 billion, a PE ratio of 9.46, a P/E/G ratio of 1.17 and a beta of 1.86.
Lazard (NYSE:LAZ) last issued its quarterly earnings data on Thursday, October 25th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.07). Lazard had a return on equity of 49.98% and a net margin of 11.49%. The company had revenue of $605.61 million for the quarter. On average, research analysts anticipate that Lazard Ltd will post 4.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Monday, November 5th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Friday, November 2nd. Lazard’s dividend payout ratio is 46.56%.
Several equities analysts recently weighed in on LAZ shares. Zacks Investment Research upgraded shares of Lazard from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, July 31st. TheStreet lowered shares of Lazard from a “b” rating to a “c+” rating in a report on Friday, July 27th. Wolfe Research began coverage on shares of Lazard in a report on Tuesday, September 25th. They issued a “market perform” rating on the stock. Buckingham Research cut their target price on shares of Lazard from $64.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Finally, ValuEngine lowered shares of Lazard from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $60.00.
Lazard Company Profile
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.
Further Reading: Google Finance Portfolio Workaround
Want to see what other hedge funds are holding LAZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lazard Ltd (NYSE:LAZ).
Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.