Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Lazard Ltd (NYSE:LAZ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 650 shares of the asset manager’s stock, valued at approximately $26,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LAZ. AlphaMark Advisors LLC acquired a new stake in Lazard in the third quarter valued at $103,000. HM Payson & Co. acquired a new stake in Lazard in the 2nd quarter valued at $103,000. Boyd Watterson Asset Management LLC OH purchased a new position in Lazard in the fourth quarter valued at about $206,000. Parametric Portfolio Associates LLC purchased a new position in Lazard in the second quarter valued at about $209,000. Finally, HighTower Advisors LLC purchased a new position in Lazard in the second quarter valued at about $224,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.
In other Lazard news, CAO Scott D. Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $38.25, for a total transaction of $1,530,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Dominick Ragone sold 4,293 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.62, for a total transaction of $165,795.66. The disclosure for this sale can be found here. Corporate insiders own 2.94% of the company’s stock.
Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.03. The business had revenue of $588.00 million for the quarter, compared to the consensus estimate of $612.98 million. Lazard had a return on equity of 50.66% and a net margin of 12.29%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. On average, equities analysts expect that Lazard Ltd will post 3.13 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on LAZ shares. Zacks Investment Research upgraded Lazard from a “strong sell” rating to a “hold” rating and set a $42.00 target price for the company in a research note on Thursday, January 2nd. Morgan Stanley started coverage on Lazard in a research report on Wednesday, November 27th. They set an “underweight” rating and a $35.00 price target on the stock. Wolfe Research upgraded Lazard from an “underperform” rating to a “peer perform” rating in a report on Monday, January 6th. ValuEngine raised shares of Lazard from a “sell” rating to a “hold” rating in a research report on Monday, December 30th. Finally, Buckingham Research lifted their price objective on shares of Lazard from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $39.20.
Lazard Company Profile
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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