Aperio Group LLC Acquires 266 Shares of Lazard Ltd. (LAZ)
Aperio Group LLC raised its stake in Lazard Ltd. (NYSE:LAZ) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,430 shares of the asset manager’s stock after buying an additional 266 shares during the period. Aperio Group LLC’s holdings in Lazard were worth $391,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of LAZ. Vanguard Group Inc. increased its stake in Lazard by 4.0% in the first quarter. Vanguard Group Inc. now owns 10,216,558 shares of the asset manager’s stock valued at $469,860,000 after buying an additional 397,075 shares in the last quarter. BlackRock Inc. increased its stake in Lazard by 68,589.3% in the first quarter. BlackRock Inc. now owns 7,603,906 shares of the asset manager’s stock valued at $349,704,000 after buying an additional 7,592,836 shares in the last quarter. Westpac Banking Corp acquired a new stake in Lazard during the first quarter valued at approximately $103,532,000. Blue Harbour Group L.P. increased its stake in Lazard by 23.4% in the first quarter. Blue Harbour Group L.P. now owns 1,720,041 shares of the asset manager’s stock valued at $79,105,000 after buying an additional 326,683 shares in the last quarter. Finally, State Street Corp increased its stake in Lazard by 8.9% in the first quarter. State Street Corp now owns 1,713,338 shares of the asset manager’s stock valued at $78,795,000 after buying an additional 140,406 shares in the last quarter. 72.14% of the stock is owned by institutional investors.
Lazard Ltd. (LAZ) traded down 0.905% during mid-day trading on Tuesday, hitting $42.145. 176,175 shares of the company traded hands. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 11.939 and a beta of 1.84. Lazard Ltd. has a one year low of $33.48 and a one year high of $48.86. The company’s 50-day moving average is $45.31 and its 200-day moving average is $44.80.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.18. Lazard had a return on equity of 39.33% and a net margin of 17.39%. The firm had revenue of $720.16 million during the quarter, compared to analyst estimates of $627.12 million. During the same period last year, the firm posted $0.61 EPS. The business’s revenue was up 32.8% compared to the same quarter last year. Analysts predict that Lazard Ltd. will post $3.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, August 7th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Thursday, August 3rd. Lazard’s dividend payout ratio is presently 46.46%.
LAZ has been the subject of several recent research reports. BidaskClub raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $51.00 target price on shares of Lazard in a research report on Tuesday, May 9th. Finally, ValuEngine downgraded shares of Lazard from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $46.89.
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe 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 to corporate, partnership, institutional, government, sovereign and individual clients.
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