2 weeks Ago By ABMN Staff
Legal & General Group Plc lessened its holdings in Lazard, Inc. ( NYSE:LAZ – Free Report ) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission.
The fund owned 93,727 shares of the asset manager’s stock after selling 4,175 shares during the period. Legal & General Group Plc’s holdings in Lazard were worth $4,825,000 at the end of the most recent reporting period. A number of other large investors have also recently bought and sold shares of LAZ.
Russell Investments Group Ltd. grew its holdings in Lazard by 350.9% during the fourth quarter.
Russell Investments Group Ltd. now owns 89,681 shares of the asset manager’s stock valued at $4,617,000 after purchasing an additional 69,790 shares during the last quarter. Wells Fargo & Company MN lifted its position in Lazard by 3.
3% during the 4th quarter. Wells Fargo & Company MN now owns 69,090 shares of the asset manager’s stock worth $3,557,000 after acquiring an additional 2,183 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lazard by 26.
7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,249 shares of the asset manager’s stock valued at $118,294,000 after acquiring an additional 483,696 shares during the period. Franklin Resources Inc.
acquired a new stake in shares of Lazard in the fourth quarter valued at about $5,128,000. Finally, Alliancebernstein L.P.
lifted its position in shares of Lazard by 11.5% during the 4th quarter. Alliancebernstein L.
P. now owns 41,713 shares of the asset manager’s stock worth $2,147,000 after purchasing an additional 4,309 shares during the last quarter. 54.
80% of the stock is currently owned by institutional investors. Analysts Set New Price Targets Several research analysts have commented on LAZ shares. Morgan Stanley downgraded Lazard from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $56.
00 to $33.00 in a research report on Monday, April 7th. Keefe, Bruyette & Woods increased their price target on shares of Lazard from $52.
00 to $57.00 and gave the company a “market perform” rating in a report on Friday, January 31st. UBS Group boosted their price objective on shares of Lazard from $50.
00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. StockNews.
com lowered Lazard from a “buy” rating to a “hold” rating in a research note on Thursday, April 10th. Finally, Wolfe Research downgraded Lazard from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock.
According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.83. Insider Activity In other Lazard news, CEO Evan L.
Russo sold 25,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $55.32, for a total transaction of $1,383,000.
00. Following the sale, the chief executive officer now owns 163,448 shares of the company’s stock, valued at $9,041,943.36.
This represents a 13.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink .
Also, CEO Peter Richard Orszag sold 64,539 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $45.56, for a total transaction of $2,940,396.
84. Following the completion of the transaction, the chief executive officer now directly owns 170,285 shares of the company’s stock, valued at approximately $7,758,184.60.
This represents a 27.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here .
Over the last 90 days, insiders sold 189,078 shares of company stock worth $9,120,541. Insiders own 3.86% of the company’s stock.
Lazard Trading Down 3.0 % Shares of LAZ opened at $34.47 on Tuesday.
The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 2.
72. The stock has a market cap of $3.89 billion, a PE ratio of 12.
96 and a beta of 1.27. Lazard, Inc.
has a 1 year low of $31.97 and a 1 year high of $61.14.
The stock has a 50 day simple moving average of $44.24 and a 200-day simple moving average of $50.03.
Lazard ( NYSE:LAZ – Get Free Report ) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.
69 by $0.09. Lazard had a return on equity of 44.
58% and a net margin of 8.98%. On average, sell-side analysts predict that Lazard, Inc.
will post 4.24 EPS for the current fiscal year. Lazard Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st.
Stockholders of record on Monday, February 10th were issued a dividend of $0.50 per share. This represents a $2.
00 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend was Monday, February 10th.
Lazard’s payout ratio is 75.19%. Lazard Profile ( Free Report ) Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia.
It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services. Featured Stories Want to see what other hedge funds are holding LAZ? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Lazard, Inc. ( NYSE:LAZ – Free Report ). 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.
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