Wealthfront Advisers LLC Invests $3.74 Million in Lazard, Inc. (NYSE:LAZ)

Wealthfront Advisers LLC acquired a new position in shares of Lazard, Inc. (NYSE:LAZ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 72,545 shares of the asset manager's stock, valued at approximately $3,735,000. Wealthfront Advisers LLC owned 0.06% of Lazard at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Berbice Capital Management LLC purchased a new stake in Lazard during the fourth quarter worth $46,000. Roxbury Financial LLC acquired a new position in shares of Lazard in the fourth quarter worth about $53,000. AlphaQuest LLC boosted its stake in shares of Lazard by 85.8% during the 4th quarter. AlphaQuest LLC now owns 1,137 shares of the asset manager's stock worth $59,000 after acquiring an additional 525 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Lazard during the 4th quarter valued at about $60,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Lazard by 209.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,267 shares of the asset manager's stock valued at $65,000 after purchasing an additional 857 shares in the last quarter. 54.80% of the stock is owned by hedge funds and other institutional investors.

Lazard Price Performance

LAZ stock traded up $0.82 during midday trading on Monday, reaching $45.75. The stock had a trading volume of 893,407 shares, compared to its average volume of 887,616. Lazard, Inc. has a 52-week low of $35.56 and a 52-week high of $61.14. 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 company's fifty day simple moving average is $50.74 and its 200 day simple moving average is $51.78. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 17.20 and a beta of 1.41.

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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, beating 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%. As a group, sell-side analysts predict that Lazard, Inc. will post 4.24 earnings per share for the current fiscal year.

Lazard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Monday, February 10th. Lazard's dividend payout ratio (DPR) is 75.19%.

Insider Transactions at Lazard

In other Lazard news, CEO Evan L. Russo sold 35,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $53.64, for a total value of $1,877,400.00. Following the completion of the sale, the chief executive officer now directly owns 188,448 shares of the company's stock, valued at $10,108,350.72. This trade represents a 15.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LAZ shares. Morgan Stanley lowered their price target on Lazard from $63.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Thursday. StockNews.com upgraded Lazard from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Wolfe Research lowered shares of Lazard from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Wells Fargo & Company increased their price objective on shares of Lazard from $51.00 to $55.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Finally, UBS Group lifted their target price on shares of Lazard from $50.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $54.17.

Lazard Profile

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.