Meadow Creek Investment Management LLC boosted its holdings in shares of Lazard Ltd (NYSE:LAZ) by 207.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 53,032 shares of the asset manager’s stock after acquiring an additional 35,784 shares during the period. Meadow Creek Investment Management LLC’s holdings in Lazard were worth $1,824,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in LAZ. Commonwealth Equity Services LLC grew its holdings in shares of Lazard by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 13,108 shares of the asset manager’s stock valued at $450,000 after buying an additional 317 shares during the period. Baldwin Investment Management LLC grew its holdings in shares of Lazard by 2.3% in the 1st quarter. Baldwin Investment Management LLC now owns 15,600 shares of the asset manager’s stock valued at $564,000 after buying an additional 350 shares during the period. Gofen & Glossberg LLC IL grew its holdings in shares of Lazard by 1.3% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 32,021 shares of the asset manager’s stock valued at $1,101,000 after buying an additional 400 shares during the period. M&T Bank Corp grew its holdings in shares of Lazard by 0.6% in the 2nd quarter. M&T Bank Corp now owns 71,915 shares of the asset manager’s stock valued at $2,474,000 after buying an additional 456 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Lazard by 3.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 17,384 shares of the asset manager’s stock valued at $598,000 after buying an additional 554 shares during the period. 64.37% of the stock is owned by hedge funds and other institutional investors.
NYSE LAZ traded down $0.15 on Friday, reaching $38.68. The company had a trading volume of 22,987 shares, compared to its average volume of 563,432. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 9.30 and a beta of 1.72. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.95 and a current ratio of 1.95. Lazard Ltd has a 1-year low of $31.07 and a 1-year high of $49.24. The company’s fifty day moving average is $35.10 and its 200-day moving average is $35.78.
The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date was Friday, August 2nd. Lazard’s payout ratio is presently 45.19%.
In other Lazard news, CAO Scott D. Hoffman sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $34.04, for a total transaction of $1,021,200.00. Following the sale, the chief accounting officer now directly owns 24,388 shares of the company’s stock, valued at approximately $830,167.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.94% of the stock is currently owned by corporate insiders.
A number of equities analysts recently weighed in on LAZ shares. Buckingham Research reduced their target price on shares of Lazard from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Zacks Investment Research raised shares of Lazard from a “sell” rating to a “hold” rating and set a $40.00 target price for the company in a research note on Wednesday. Finally, UBS Group lowered shares of Lazard from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $43.00 to $36.00 in a research note on Monday, June 10th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Lazard currently has a consensus rating of “Hold” and an average price target of $40.17.
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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