Xact Kapitalforvaltning AB Invests $376,000 in Lazard Ltd (NYSE:LAZ)

Xact Kapitalforvaltning AB bought a new position in shares of Lazard Ltd (NYSE:LAZ) during the 1st quarter, HoldingsChannel reports. The firm bought 10,400 shares of the asset manager’s stock, valued at approximately $376,000.

Other hedge funds have also made changes to their positions in the company. Greystone Managed Investments Inc. grew its holdings in shares of Lazard by 37.0% during the fourth quarter. Greystone Managed Investments Inc. now owns 80,126 shares of the asset manager’s stock worth $2,957,000 after purchasing an additional 21,635 shares during the last quarter. Oakbrook Investments LLC bought a new position in Lazard in the first quarter valued at about $217,000. Telemus Capital LLC boosted its holdings in Lazard by 3.1% in the fourth quarter. Telemus Capital LLC now owns 39,670 shares of the asset manager’s stock valued at $1,464,000 after acquiring an additional 1,175 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Lazard by 2.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,972 shares of the asset manager’s stock valued at $626,000 after acquiring an additional 413 shares during the last quarter. Finally, MUFG Securities EMEA plc bought a new position in Lazard in the fourth quarter valued at about $5,500,000. Institutional investors own 65.59% of the company’s stock.

Lazard stock traded down $0.42 during mid-day trading on Friday, hitting $33.25. The stock had a trading volume of 14,953 shares, compared to its average volume of 919,189. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 7.99, a P/E/G ratio of 3.33 and a beta of 1.67. Lazard Ltd has a 12 month low of $31.07 and a 12 month high of $54.64. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.28.

Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.29. The business had revenue of $620.00 million for the quarter, compared to analysts’ expectations of $598.66 million. Lazard had a return on equity of 48.17% and a net margin of 16.72%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 earnings per share. As a group, sell-side analysts expect that Lazard Ltd will post 3.71 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were issued a $0.47 dividend. This is a boost from Lazard’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.88 annualized dividend and a yield of 5.65%. Lazard’s dividend payout ratio (DPR) is currently 45.19%.

LAZ has been the topic of several recent research reports. Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Bank of America cut Lazard from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Thursday, April 11th. Finally, UBS Group cut Lazard from a “buy” rating to a “neutral” rating and decreased their price target for the company from $43.00 to $36.00 in a report on Monday. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.33.

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Lazard 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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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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