Evanson Asset Management LLC lifted its position in Lazard Ltd (NYSE:LAZ) by 1.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 25,443 shares of the asset manager’s stock after buying an additional 347 shares during the period. Evanson Asset Management LLC’s holdings in Lazard were worth $891,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in LAZ. Machina Capital S.A.S. bought a new position in shares of Lazard in the second quarter worth $53,000. HM Payson & Co. bought a new position in shares of Lazard in the second quarter worth $103,000. ETF Managers Group LLC bought a new position in shares of Lazard in the second quarter worth $173,000. Atria Investments LLC bought a new position in shares of Lazard in the second quarter worth $199,000. Finally, Parametric Portfolio Associates LLC bought a new position in shares of Lazard in the second quarter worth $209,000. 64.05% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:LAZ traded up $1.34 during midday trading on Friday, hitting $37.00. The company had a trading volume of 60,050 shares, compared to its average volume of 854,989. Lazard Ltd has a 52-week low of $31.07 and a 52-week high of $43.91. The stock’s fifty day moving average price is $35.20 and its 200-day moving average price is $35.59. The company has a market capitalization of $4.53 billion, a PE ratio of 8.92 and a beta of 1.71. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 3.11.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 25th. The asset manager reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.10. Lazard had a net margin of 14.42% and a return on equity of 47.09%. The company had revenue of $630.00 million during the quarter, compared to analyst estimates of $604.18 million. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was down 15.0% compared to the same quarter last year. As a group, research analysts forecast that Lazard Ltd will post 3.35 earnings per share for the current year.
In related news, CAO Scott D. Hoffman sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $34.04, for a total value of $1,021,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,388 shares in the company, valued at $830,167.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.94% of the stock is currently owned by insiders.
Several research analysts have recently weighed in on LAZ shares. Zacks Investment Research raised shares of Lazard from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a report on Wednesday, September 11th. ValuEngine upgraded shares of Lazard from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Buckingham Research cut their target price on shares of Lazard from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.00.
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.
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