LaSalle Street Capital Management LLC Holds Position in Lazard Ltd. (LAZ)
LaSalle Street Capital Management LLC held its stake in shares of Lazard Ltd. (NYSE:LAZ) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,400 shares of the asset manager’s stock at the close of the second quarter. LaSalle Street Capital Management LLC’s holdings in Lazard were worth $991,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in LAZ. JFS Wealth Advisors LLC increased its holdings in shares of Lazard by 1,759.2% during the second quarter. JFS Wealth Advisors LLC now owns 3,830 shares of the asset manager’s stock worth $177,000 after purchasing an additional 3,624 shares during the period. SG Americas Securities LLC bought a new position in Lazard in the second quarter valued at approximately $179,000. Suntrust Banks Inc. bought a new position in Lazard in the first quarter valued at approximately $204,000. Pinnacle Financial Partners Inc. bought a new position in Lazard in the second quarter valued at approximately $206,000. Finally, Peapack Gladstone Financial Corp bought a new position in Lazard in the first quarter valued at approximately $207,000. 72.15% of the stock is currently owned by institutional investors.
Shares of Lazard Ltd. (NYSE:LAZ) traded up 0.29% on Thursday, reaching $41.75. 94,794 shares of the company were exchanged. Lazard Ltd. has a 12-month low of $33.48 and a 12-month high of $48.86. The stock has a market capitalization of $5.08 billion, a PE ratio of 11.83 and a beta of 1.84. The firm has a 50 day moving average price of $43.74 and a 200-day moving average price of $44.71.
Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 27th. The asset manager reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.18. The business had revenue of $720.16 million for the quarter, compared to analyst estimates of $627.12 million. Lazard had a net margin of 17.39% and a return on equity of 39.33%. Lazard’s revenue was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. On average, analysts predict that Lazard Ltd. will post $3.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Thursday, August 3rd. Lazard’s dividend payout ratio (DPR) is presently 46.46%.
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A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Finally, ValuEngine raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lazard currently has a consensus rating of “Buy” and an average target price 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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