Citizens Financial Group Inc. RI Acquires New Stake in LegalZoom.com, Inc. (NASDAQ:LZ)

Citizens Financial Group Inc. RI acquired a new position in shares of LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 490,068 shares of the company's stock, valued at approximately $3,112,000. Citizens Financial Group Inc. RI owned 0.28% of LegalZoom.com at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its position in LegalZoom.com by 8.8% during the first quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company's stock valued at $178,000 after purchasing an additional 1,074 shares during the period. nVerses Capital LLC lifted its position in LegalZoom.com by 16.2% during the third quarter. nVerses Capital LLC now owns 15,800 shares of the company's stock valued at $100,000 after purchasing an additional 2,200 shares during the period. Ascent Group LLC lifted its position in LegalZoom.com by 27.6% during the first quarter. Ascent Group LLC now owns 13,650 shares of the company's stock valued at $182,000 after purchasing an additional 2,950 shares during the period. Quarry LP lifted its position in LegalZoom.com by 318.9% during the second quarter. Quarry LP now owns 4,474 shares of the company's stock valued at $38,000 after purchasing an additional 3,406 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in LegalZoom.com by 179.8% during the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company's stock valued at $39,000 after purchasing an additional 3,919 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Stock Performance

Shares of LZ stock traded up $0.07 on Friday, hitting $7.83. The stock had a trading volume of 879,658 shares, compared to its average volume of 1,573,683. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 59.70, a P/E/G ratio of 1.69 and a beta of 1.06. The stock's 50 day moving average is $7.09 and its 200-day moving average is $7.37. LegalZoom.com, Inc. has a 52-week low of $5.33 and a 52-week high of $13.74.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company had revenue of $168.60 million for the quarter, compared to the consensus estimate of $167.66 million. During the same period last year, the firm posted $0.05 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. Equities analysts expect that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on LZ shares. Barclays upped their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $8.00 price target on shares of LegalZoom.com in a research report on Friday, November 8th. Jefferies Financial Group upgraded shares of LegalZoom.com from a "hold" rating to a "buy" rating and set a $8.00 price objective on the stock in a report on Wednesday, July 31st. William Blair began coverage on shares of LegalZoom.com in a report on Monday, September 16th. They issued a "market perform" rating on the stock. Finally, JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.67.

LegalZoom.com Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.