Sandy Spring Bank trimmed its stake in shares of Lazard Ltd (NYSE:LAZ) by 12.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,728 shares of the asset manager’s stock after selling 2,439 shares during the period. Sandy Spring Bank’s holdings in Lazard were worth $654,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Lazard by 1.5% in the 2nd quarter. FMR LLC now owns 3,049,877 shares of the asset manager’s stock worth $149,169,000 after buying an additional 44,224 shares during the last quarter. Oakbrook Investments LLC purchased a new position in Lazard in the 3rd quarter worth approximately $345,000. Calamos Advisors LLC purchased a new position in Lazard in the 3rd quarter worth approximately $278,000. Russell Investments Group Ltd. lifted its stake in Lazard by 13.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 176,140 shares of the asset manager’s stock worth $8,477,000 after purchasing an additional 21,185 shares in the last quarter. Finally, Shufro Rose & Co. LLC lifted its stake in Lazard by 29.1% in the 3rd quarter. Shufro Rose & Co. LLC now owns 10,650 shares of the asset manager’s stock worth $513,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors own 70.30% of the company’s stock.
A number of research firms have weighed in on LAZ. TheStreet raised shares of Lazard from a “c” rating to a “b-” rating in a research note on Wednesday, February 6th. ValuEngine lowered shares of Lazard from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 5th. Zacks Investment Research lowered shares of Lazard from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Wolfe Research lowered shares of Lazard from a “market perform” rating to an “underperform” rating in a research note on Tuesday, January 8th. Finally, Keefe, Bruyette & Woods reissued a “mkt perform” rating and issued a $41.00 target price on shares of Lazard in a research note on Friday, January 4th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $50.83.
LAZ opened at $36.50 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.83 and a current ratio of 1.83. Lazard Ltd has a 1-year low of $33.54 and a 1-year high of $57.37. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 2.22 and a beta of 1.62.
Lazard (NYSE:LAZ) last released its earnings results on Tuesday, February 5th. The asset manager reported $0.94 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.94. Lazard had a net margin of 18.27% and a return on equity of 49.16%. The business had revenue of $685.00 million for the quarter, compared to analyst estimates of $673.35 million. During the same period last year, the company posted $1.12 EPS. The business’s revenue was up .3% on a year-over-year basis. Sell-side analysts forecast that Lazard Ltd will post 3.89 EPS for the current fiscal year.
The company also recently declared a None dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, February 14th. Lazard’s payout ratio is presently 42.31%.
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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