Robeco Institutional Asset Management B.V. raised its holdings in shares of Lazard Ltd (NYSE:LAZ) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 584,166 shares of the asset manager’s stock after buying an additional 31,494 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.45% of Lazard worth $28,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HRT Financial LLC purchased a new stake in Lazard during the first quarter valued at about $911,000. JPMorgan Chase & Co. boosted its holdings in shares of Lazard by 9.1% during the first quarter. JPMorgan Chase & Co. now owns 1,824,933 shares of the asset manager’s stock worth $95,919,000 after purchasing an additional 151,676 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Lazard by 14.0% during the first quarter. California Public Employees Retirement System now owns 272,554 shares of the asset manager’s stock worth $14,325,000 after purchasing an additional 33,485 shares during the period. RWC Asset Management LLP boosted its holdings in shares of Lazard by 10.0% during the second quarter. RWC Asset Management LLP now owns 939,496 shares of the asset manager’s stock worth $45,951,000 after purchasing an additional 85,609 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Lazard by 127.5% during the first quarter. Russell Investments Group Ltd. now owns 367,493 shares of the asset manager’s stock worth $19,299,000 after purchasing an additional 205,973 shares during the period. Institutional investors and hedge funds own 73.11% of the company’s stock.

A number of research firms have recently weighed in on LAZ. TheStreet upgraded shares of Lazard from a “c+” rating to a “b” rating in a report on Thursday, April 26th. Zacks Investment Research upgraded shares of Lazard from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Tuesday, July 31st. ValuEngine upgraded shares of Lazard from a “buy” rating to a “strong-buy” rating in a report on Friday, April 27th. Bank of America upgraded shares of Lazard from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, April 17th. Finally, JMP Securities increased their target price on shares of Lazard from $65.00 to $66.00 and gave the stock a “market outperform” rating in a report on Friday, April 27th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $60.25.

Lazard opened at $50.66 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.07. The stock has a market cap of $6.78 billion, a PE ratio of 12.07, a PEG ratio of 1.09 and a beta of 1.83. Lazard Ltd has a 1-year low of $40.50 and a 1-year high of $60.00.

Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 26th. The asset manager reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.18. Lazard had a net margin of 11.58% and a return on equity of 47.49%. The company had revenue of $741.00 million during the quarter, compared to analyst estimates of $663.44 million. During the same period in the prior year, the business posted $0.98 earnings per share. Lazard’s revenue for the quarter was up 2.9% on a year-over-year basis. sell-side analysts predict that Lazard Ltd will post 4.58 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Investors of record on Monday, August 6th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, August 3rd. Lazard’s payout ratio is currently 46.56%.

Lazard 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.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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