6 days Ago By ABMN Staff
Russell Investments Group Ltd. grew its stake in Lazard, Inc. ( NYSE:LAZ – Free Report ) by 350.
9% during the 4th quarter, HoldingsChannel reports. The firm owned 89,681 shares of the asset manager’s stock after buying an additional 69,790 shares during the quarter. Russell Investments Group Ltd.
’s holdings in Lazard were worth $4,617,000 as of its most recent filing with the Securities and Exchange Commission. A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in Lazard by 3.
3% during the fourth quarter. Wells Fargo & Company MN now owns 69,090 shares of the asset manager’s stock worth $3,557,000 after buying an additional 2,183 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lazard by 26.
7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,249 shares of the asset manager’s stock worth $118,294,000 after acquiring an additional 483,696 shares in the last quarter. Franklin Resources Inc.
acquired a new stake in shares of Lazard during the 4th quarter valued at about $5,128,000. Alliancebernstein L.P.
increased its stake in shares of Lazard by 11.5% in the 4th quarter. Alliancebernstein L.
P. now owns 41,713 shares of the asset manager’s stock valued at $2,147,000 after purchasing an additional 4,309 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in Lazard by 11.
2% in the 4th quarter. Pictet Asset Management Holding SA now owns 12,743 shares of the asset manager’s stock worth $656,000 after purchasing an additional 1,283 shares during the period. Institutional investors and hedge funds own 54.
80% of the company’s stock. Lazard Stock Performance LAZ opened at $35.63 on Tuesday.
Lazard, Inc. has a twelve month low of $31.97 and a twelve month high of $61.
14. The firm has a market capitalization of $4.02 billion, a PE ratio of 13.
39 and a beta of 1.27. 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 firm’s 50-day moving average price is $46.03 and its 200 day moving average price is $50.52.
Lazard Dividend Announcement The business 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 dividend yield of 5.61%.
The ex-dividend date of this dividend was Monday, February 10th. Lazard’s dividend payout ratio (DPR) is presently 75.19%.
Wall Street Analysts Forecast Growth Several brokerages have commented on LAZ. Wells Fargo & Company dropped their price objective on Lazard from $44.00 to $38.
00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley lowered shares of Lazard from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $56.00 to $33.
00 in a report on Monday, April 7th. StockNews.com cut shares of Lazard from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th.
UBS Group boosted their target price on shares of Lazard from $50.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd.
Finally, JMP Securities decreased their price target on shares of Lazard from $60.00 to $55.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th.
Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Lazard has a consensus rating of “Hold” and an average price target of $46.83.
Check Out Our Latest Report on Lazard Insider Transactions at Lazard In other news, CEO Peter Richard Orszag sold 64,539 shares of Lazard stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $45.56, for a total transaction of $2,940,396.
84. Following the sale, the chief executive officer now owns 170,285 shares of the company’s stock, valued at approximately $7,758,184.60.
The trade was a 27.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link .
Also, CEO Evan L. Russo sold 35,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 188,448 shares of the company’s stock, valued at $10,108,350.
72. The trade was a 15.66 % decrease in their ownership of the stock.
The disclosure for this sale can be found here . Insiders have sold a total of 189,078 shares of company stock worth $9,120,541 in the last quarter. Company insiders own 3.
86% of the company’s stock. Lazard Profile ( 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. Featured Articles Want to see what other hedge funds are holding LAZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lazard, Inc.
( NYSE:LAZ – Free Report ). Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter .
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