International Assets Investment Management LLC Acquires 13,682 Shares of Lazard, Inc. (NYSE:LAZ)

International Assets Investment Management LLC lifted its holdings in Lazard, Inc. (NYSE:LAZ - Free Report) by 348.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,604 shares of the asset manager's stock after purchasing an additional 13,682 shares during the quarter. International Assets Investment Management LLC's holdings in Lazard were worth $887,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Lazard in the 1st quarter worth $25,000. Richardson Financial Services Inc. increased its stake in Lazard by 1,125.0% during the second quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager's stock worth $28,000 after acquiring an additional 675 shares during the last quarter. Continuum Advisory LLC raised its position in Lazard by 58.9% during the second quarter. Continuum Advisory LLC now owns 890 shares of the asset manager's stock valued at $34,000 after purchasing an additional 330 shares during the period. Redwood Wealth Management Group LLC purchased a new stake in Lazard during the second quarter valued at approximately $87,000. Finally, LWM Advisory Services LLC bought a new stake in shares of Lazard in the 2nd quarter valued at approximately $88,000. 54.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Kenneth M. Jacobs sold 86,728 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $50.02, for a total value of $4,338,134.56. Following the sale, the chairman now directly owns 1,640,995 shares of the company's stock, valued at $82,082,569.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Kenneth M. Jacobs sold 86,728 shares of Lazard stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $50.02, for a total transaction of $4,338,134.56. Following the transaction, the chairman now directly owns 1,640,995 shares of the company's stock, valued at $82,082,569.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kenneth M. Jacobs sold 87,770 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $48.08, for a total value of $4,219,981.60. Following the sale, the chairman now directly owns 1,553,225 shares of the company's stock, valued at approximately $74,679,058. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 176,497 shares of company stock valued at $8,658,086. Company insiders own 3.14% of the company's stock.

Lazard Stock Performance

Lazard stock traded up $0.73 during trading hours on Tuesday, reaching $53.18. 860,157 shares of the stock were exchanged, compared to its average volume of 941,874. The stock has a market cap of $6.00 billion, a P/E ratio of 20.90 and a beta of 1.38. The firm's 50 day moving average is $50.13 and its 200 day moving average is $44.52. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.94 and a current ratio of 1.94. Lazard, Inc. has a 52-week low of $25.82 and a 52-week high of $54.72.

Lazard (NYSE:LAZ - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.03). Lazard had a return on equity of 46.55% and a net margin of 8.28%. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $644.22 million. During the same quarter in the prior year, the company earned $0.10 EPS. The business's revenue was up 21.4% on a year-over-year basis. Analysts predict that Lazard, Inc. will post 2.36 EPS for the current fiscal year.

Lazard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a yield of 3.76%. Lazard's dividend payout ratio (DPR) is 79.68%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JMP Securities increased their price target on Lazard from $55.00 to $59.00 and gave the company a "market outperform" rating in a report on Friday. Wells Fargo & Company began coverage on shares of Lazard in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $51.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Lazard from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Friday. The Goldman Sachs Group increased their price objective on shares of Lazard from $38.00 to $42.00 and gave the stock a "sell" rating in a research report on Friday, July 26th. Finally, UBS Group boosted their target price on Lazard from $49.00 to $52.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $53.00.

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.