Webster Bank N. A. lowered its position in Lazard Ltd (NYSE:LAZ) by 33.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,030 shares of the asset manager’s stock after selling 1,007 shares during the period. Webster Bank N. A.’s holdings in Lazard were worth $75,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Belpointe Asset Management LLC purchased a new stake in Lazard during the third quarter worth about $111,000. SG Americas Securities LLC purchased a new stake in Lazard during the second quarter worth about $130,000. Truvestments Capital LLC purchased a new stake in Lazard during the third quarter worth about $146,000. People s United Financial Inc. purchased a new stake in Lazard during the third quarter worth about $214,000. Finally, Jefferies Group LLC purchased a new stake in Lazard during the third quarter worth about $260,000. Institutional investors own 71.34% of the company’s stock.
Shares of NYSE:LAZ opened at $37.42 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.83 and a quick ratio of 1.83. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.67. Lazard Ltd has a twelve month low of $33.54 and a twelve month high of $60.00.
Lazard (NYSE:LAZ) last issued its earnings results on Thursday, October 25th. The asset manager reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.07). The business had revenue of $605.61 million for the quarter. Lazard had a return on equity of 49.98% and a net margin of 11.49%. Analysts predict that Lazard Ltd will post 4.26 EPS for the current fiscal year.
A number of research firms recently issued reports on LAZ. Wolfe Research downgraded shares of Lazard from a “market perform” rating to an “underperform” rating in a report on Tuesday. Keefe, Bruyette & Woods restated a “mkt perform” rating and set a $41.00 price objective on shares of Lazard in a report on Friday, January 4th. Zacks Investment Research upgraded shares of Lazard from a “sell” rating to a “hold” rating in a report on Monday, December 31st. ValuEngine upgraded shares of Lazard from a “strong sell” rating to a “sell” rating in a report on Friday, November 23rd. Finally, Goldman Sachs Group began coverage on shares of Lazard in a report on Tuesday, November 6th. They set a “neutral” rating and a $46.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.50.
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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