2 weeks Ago By Defense World Staff
Wells Fargo & Company MN grew its position in shares of Lazard, Inc. (NYSE:LAZ – Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the SEC.
The fund owned 69,090 shares of the asset manager’s stock after acquiring an additional 2,183 shares during the quarter. Wells Fargo & Company MN owned about 0.06% of Lazard worth $3,557,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Lee Danner & Bass Inc. bought a new position in Lazard during the fourth quarter valued at $31,000.
Hopwood Financial Services Inc. purchased a new stake in shares of Lazard during the 4th quarter valued at about $41,000. Berbice Capital Management LLC bought a new position in shares of Lazard in the 4th quarter valued at about $46,000.
Roxbury Financial LLC purchased a new position in Lazard in the fourth quarter worth about $53,000. Finally, AlphaQuest LLC increased its stake in Lazard by 85.8% during the fourth quarter.
AlphaQuest LLC now owns 1,137 shares of the asset manager’s stock worth $59,000 after acquiring an additional 525 shares during the last quarter. 54.80% of the stock is owned by hedge funds and other institutional investors.
Lazard Trading Up 5.8 %NYSE LAZ opened at $36.40 on Wednesday.
The stock has a market cap of $4.10 billion, a PE ratio of 13.68 and a beta of 1.
27. Lazard, Inc. has a 12 month low of $31.
97 and a 12 month high of $61.14. The company’s 50-day moving average price is $43.
88 and its 200-day moving average price is $49.94. The company has a current ratio of 2.
24, a quick ratio of 2.24 and a debt-to-equity ratio of 2.72.
Lazard (NYSE:LAZ – Get Free Report) last issued its earnings results on Thursday, January 30th. The asset manager reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.
69 by $0.09. Lazard had a net margin of 8.
98% and a return on equity of 44.58%. Equities research analysts forecast that Lazard, Inc.
will post 4.24 earnings per share for the current year. Lazard Announces DividendThe company also recently declared a quarterly dividend, which was paid on Friday, February 21st.
Stockholders of record on Monday, February 10th were given a dividend of $0.50 per share. This represents a $2.
00 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date was Monday, February 10th.
Lazard’s payout ratio is 75.19%. Wall Street Analyst Weigh InSeveral equities research analysts have recently issued reports on LAZ shares.
Keefe, Bruyette & Woods raised their price objective on Lazard from $52.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, January 31st.
Morgan Stanley lowered shares of Lazard from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $56.00 to $33.00 in a research note on Monday, April 7th.
JMP Securities cut their price objective on shares of Lazard from $60.00 to $55.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th.
Wolfe Research lowered shares of Lazard from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group cut their price target on shares of Lazard from $51.00 to $44.
00 and set a “sell” rating on the stock in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.
83.Get Our Latest Stock Analysis on LAZInsider ActivityIn other news, CEO Peter Richard Orszag sold 64,539 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $45.
24, for a total transaction of $2,919,744.36. Following the transaction, the chief executive officer now directly owns 234,824 shares in the company, valued at approximately $10,623,437.
76. This trade represents a 21.56 % decrease in their ownership of the stock.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Evan L. Russo sold 35,000 shares of Lazard stock in a transaction that occurred on Wednesday, February 12th.
The shares were sold at an average price of $53.64, for a total transaction of $1,877,400.00.
Following the transaction, the chief executive officer now directly owns 188,448 shares in the company, valued at approximately $10,108,350.72. The trade was a 15.
66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,078 shares of company stock worth $9,120,541.
Company insiders own 3.86% of the company’s stock. About Lazard (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.See AlsoFive stocks we like better than LazardHow to trade using analyst ratingsHow to Invest in Micro-Cap Stocks Like a ProUsing the MarketBeat Dividend Tax CalculatorInvestors Sell Microsoft Stock on OpenAI News—Time to Buy? Technology Stocks Explained: Here’s What to Know About TechTake-Two Interactive: A Defensive Play Set to Explode.
