Edgestream Partners L.P. purchased a new stake in Lazard, Inc. (NYSE:LAZ - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 87,172 shares of the asset manager's stock, valued at approximately $4,488,000. Edgestream Partners L.P. owned 0.08% of Lazard as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Berbice Capital Management LLC bought a new stake in Lazard in the 4th quarter valued at $46,000. Roxbury Financial LLC bought a new stake in shares of Lazard in the fourth quarter valued at about $53,000. Geneos Wealth Management Inc. bought a new stake in shares of Lazard in the fourth quarter valued at about $60,000. HHM Wealth Advisors LLC boosted its position in shares of Lazard by 209.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 1,267 shares of the asset manager's stock worth $65,000 after buying an additional 857 shares during the period. Finally, Spire Wealth Management bought a new position in shares of Lazard during the fourth quarter worth about $69,000. Institutional investors own 54.80% of the company's stock.
Lazard Stock Performance
NYSE LAZ traded down $0.17 during trading on Wednesday, reaching $45.83. 1,228,819 shares of the company's stock were exchanged, compared to its average volume of 1,148,751. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.24 and a quick ratio of 2.24. The business has a 50 day moving average price of $51.06 and a 200-day moving average price of $51.87. The stock has a market capitalization of $5.17 billion, a P/E ratio of 17.23 and a beta of 1.41. Lazard, Inc. has a fifty-two week low of $35.56 and a fifty-two week high of $61.14.
Lazard (NYSE:LAZ - Get Free Report) last posted its earnings results on Thursday, January 30th. The asset manager reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.09. Lazard had a return on equity of 44.58% and a net margin of 8.98%. Sell-side analysts forecast that Lazard, Inc. will post 4.24 earnings per share for the current fiscal year.
Lazard Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, February 10th. Lazard's payout ratio is 75.19%.
Insider Transactions at Lazard
In related 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 transaction, the chief executive officer now owns 188,448 shares in the company, valued at approximately $10,108,350.72. This trade represents a 15.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.14% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. UBS Group boosted their target price on Lazard from $50.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Morgan Stanley lifted their target price on Lazard from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. The Goldman Sachs Group dropped their target price on Lazard from $51.00 to $44.00 and set a "sell" rating on the stock in a report on Wednesday, January 15th. Wolfe Research downgraded Lazard from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company upped their price objective on Lazard from $51.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. One 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $55.33.
Check Out Our Latest Stock Report on Lazard
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.
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