Raymond James Trust N.A. reduced its position in shares of Lazard Ltd (NYSE:LAZ) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,626 shares of the asset manager’s stock after selling 627 shares during the period. Raymond James Trust N.A.’s holdings in Lazard were worth $312,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Global Thematic Partners LLC boosted its holdings in shares of Lazard by 15.1% during the first quarter. Global Thematic Partners LLC now owns 330,990 shares of the asset manager’s stock worth $11,962,000 after purchasing an additional 43,441 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Lazard by 33.0% during the first quarter. State of Alaska Department of Revenue now owns 41,941 shares of the asset manager’s stock worth $1,514,000 after purchasing an additional 10,417 shares during the period. Jackson Hole Capital Partners LLC purchased a new stake in shares of Lazard during the fourth quarter worth about $267,000. MUFG Securities EMEA plc purchased a new stake in shares of Lazard during the fourth quarter worth about $5,500,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Lazard by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 1,407,053 shares of the asset manager’s stock worth $52,060,000 after purchasing an additional 93,702 shares during the period. Institutional investors own 68.71% of the company’s stock.

A number of analysts have recently weighed in on LAZ shares. Wolfe Research lowered shares of Lazard from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 8th. Zacks Investment Research raised shares of Lazard from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reissued a “mkt perform” rating and issued a $41.00 price target on shares of Lazard in a research note on Friday, January 4th. ValuEngine downgraded shares of Lazard from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 5th. Finally, Bank of America downgraded shares of Lazard from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Lazard presently has an average rating of “Hold” and a consensus price target of $50.33.

LAZ stock opened at $37.78 on Friday. Lazard Ltd has a 1 year low of $33.54 and a 1 year high of $56.30. The stock has a market capitalization of $4.90 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.51 and a beta of 1.59. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.48.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Tuesday, February 5th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.94. Lazard had a net margin of 18.27% and a return on equity of 50.62%. The company had revenue of $685.00 million during the quarter, compared to the consensus estimate of $673.35 million. During the same period in the prior year, the firm earned $1.12 earnings per share. Lazard’s revenue was up .3% on a year-over-year basis. On average, equities analysts anticipate that Lazard Ltd will post 3.57 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Raymond James Trust N.A. Has $312,000 Stake in Lazard Ltd (LAZ)” was first published by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.watchlistnews.com/raymond-james-trust-n-a-has-312000-stake-in-lazard-ltd-laz/2979355.html.

Lazard Company Profile

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.

Read More: What is a put option?

Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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.