Hsbc Holdings PLC Makes New Investment in Lazard, Inc. $LAZ

Hsbc Holdings PLC bought a new stake in Lazard, Inc. (NYSE:LAZ) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 18,920 shares of the asset manager’s stock, valued at approximately $794,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LAZ. Kestra Advisory Services LLC purchased a new stake in shares of Lazard during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC raised its holdings in shares of Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after purchasing an additional 220 shares during the period. Quest 10 Wealth Builders Inc. purchased a new position in Lazard in the fourth quarter valued at approximately $32,000. IFP Advisors Inc lifted its stake in Lazard by 53.5% in the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares during the last quarter. Finally, State of Wyoming bought a new position in Lazard during the second quarter valued at $38,000. 54.80% of the stock is owned by institutional investors.

Lazard Price Performance

Shares of NYSE LAZ opened at $40.60 on Thursday. The firm has a market capitalization of $4.54 billion, a P/E ratio of 19.90, a P/E/G ratio of 0.91 and a beta of 1.43. The company has a quick ratio of 3.51, a current ratio of 2.84 and a debt-to-equity ratio of 1.87. The stock’s 50-day simple moving average is $44.00 and its two-hundred day simple moving average is $46.56. Lazard, Inc. has a twelve month low of $38.67 and a twelve month high of $58.75.

Lazard (NYSE:LAZ) last issued its quarterly earnings results on Friday, July 24th. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.22). The business had revenue of $786.47 million for the quarter, compared to the consensus estimate of $736.29 million. Lazard had a net margin of 6.95% and a return on equity of 23.58%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. As a group, equities analysts anticipate that Lazard, Inc. will post 2.15 EPS for the current fiscal year.

Lazard Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Monday, August 3rd. Lazard’s dividend payout ratio (DPR) is currently 98.04%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup reissued a “market outperform” rating on shares of Lazard in a research report on Friday, July 24th. UBS Group reaffirmed a “neutral” rating and set a $44.00 price target on shares of Lazard in a research report on Tuesday, June 9th. Weiss Ratings upgraded Lazard from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Zacks Research raised Lazard from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Morgan Stanley set a $44.00 price objective on Lazard in a research note on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lazard currently has a consensus rating of “Hold” and a consensus target price of $50.38.

About Lazard

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.