Lazard, Inc. (NYSE:LAZ) Shares Purchased by US Bancorp DE

US Bancorp DE raised its stake in Lazard, Inc. (NYSE:LAZ) by 2,053.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,104 shares of the asset manager’s stock after purchasing an additional 4,867 shares during the period. US Bancorp DE’s holdings in Lazard were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Lazard during the first quarter worth approximately $25,000. Richardson Financial Services Inc. raised its holdings in shares of Lazard by 1,125.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 675 shares in the last quarter. Continuum Advisory LLC raised its holdings in shares of Lazard by 58.9% in the 2nd quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 330 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of Lazard during the 3rd quarter worth $50,000. Finally, Redwood Wealth Management Group LLC acquired a new position in shares of Lazard during the second quarter worth $87,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Lazard Trading Down 2.1 %

Shares of Lazard stock opened at $54.92 on Thursday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market capitalization of $6.19 billion, a P/E ratio of 21.88 and a beta of 1.38. Lazard, Inc. has a 1 year low of $26.25 and a 1 year high of $61.14. The company’s fifty day moving average is $51.26 and its two-hundred day moving average is $45.38.

Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.03). Lazard had a net margin of 8.28% and a return on equity of 42.20%. The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $644.22 million. During the same quarter last year, the firm earned $0.10 EPS. The business’s revenue was up 21.4% on a year-over-year basis. Analysts forecast that Lazard, Inc. will post 2.31 earnings per share for the current year.

Lazard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Friday, November 8th. Lazard’s dividend payout ratio is presently 79.68%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price target on Lazard from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. 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 price target on the stock. StockNews.com downgraded shares of Lazard from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group increased their target price on shares of Lazard from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Friday, July 26th. Finally, Morgan Stanley boosted their price target on shares of Lazard from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.00.

Insider Activity at Lazard

In other Lazard 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 transaction of $4,338,134.56. Following the completion of the transaction, the chairman now owns 1,640,995 shares in the company, valued at approximately $82,082,569.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lazard news, Chairman Kenneth M. Jacobs sold 86,728 shares of the business’s stock in a transaction that occurred on 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 owns 1,640,995 shares in the company, valued at approximately $82,082,569.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Kenneth M. Jacobs sold 87,770 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 1,553,225 shares of the company’s stock, valued at $74,679,058. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 176,497 shares of company stock worth $8,658,086 in the last three months. Insiders own 3.86% of the company’s stock.

Lazard Company 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.