National Investment Services Inc. WI purchased a new stake in shares of Lazard Ltd. (NYSE:LAZ) during the third quarter, Holdings Channel reports. The fund purchased 45,211 shares of the company’s stock, valued at approximately $1,644,000.

A number of other hedge funds also recently bought and sold shares of LAZ. Columbia Wanger Asset Management LLC raised its stake in Lazard by 157.1% in the second quarter. Columbia Wanger Asset Management LLC now owns 3,023,066 shares of the company’s stock valued at $90,027,000 after buying an additional 1,847,066 shares during the last quarter. RidgeWorth Capital Management LLC raised its stake in Lazard by 23.8% in the second quarter. RidgeWorth Capital Management LLC now owns 3,729,700 shares of the company’s stock valued at $111,593,000 after buying an additional 715,900 shares during the last quarter. Bank of Montreal Can acquired a new stake in Lazard during the second quarter valued at $18,285,000. CI Investments Inc. raised its stake in Lazard by 60.6% in the second quarter. CI Investments Inc. now owns 1,334,068 shares of the company’s stock valued at $39,729,000 after buying an additional 503,500 shares during the last quarter. Finally, Strs Ohio raised its stake in Lazard by 28.7% in the second quarter. Strs Ohio now owns 1,993,000 shares of the company’s stock valued at $59,351,000 after buying an additional 445,000 shares during the last quarter. 71.57% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

Lazard Ltd. (NYSE:LAZ) traded up 0.71% during trading on Friday, hitting $41.09. 343,615 shares of the stock traded hands. The company has a 50-day moving average price of $41.43 and a 200 day moving average price of $36.90. Lazard Ltd. has a one year low of $26.21 and a one year high of $44.07. The stock has a market cap of $5.06 billion, a PE ratio of 13.07 and a beta of 1.92.

Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. Lazard had a return on equity of 30.04% and a net margin of 18.29%. The company earned $611 million during the quarter, compared to analysts’ expectations of $593.03 million. During the same period in the prior year, the business earned $0.93 earnings per share. Lazard’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that Lazard Ltd. will post $2.98 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was first posted by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The legal version of this story can be read at http://www.watchlistnews.com/45211-shares-in-lazard-ltd-laz-acquired-by-national-investment-services-inc-wi/1060603.html.

Several analysts have weighed in on the stock. Nomura lowered shares of Lazard from a “buy” rating to a “neutral” rating in a research note on Thursday, January 5th. Bank of America assumed coverage on shares of Lazard in a research note on Wednesday, December 14th. They set an “underperform” rating and a $40.00 target price for the company. Zacks Investment Research lowered shares of Lazard from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Instinet lowered shares of Lazard from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Friday, January 6th. Finally, Credit Suisse Group assumed coverage on shares of Lazard in a research note on Sunday, November 20th. They set an “outperform” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $45.80.

About Lazard

Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters.

5 Day Chart for NYSE:LAZ

Want to see what other hedge funds are holding LAZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lazard Ltd. (NYSE:LAZ).

Receive News & Ratings for Lazard Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.