Osborne Partners Capital Management LLC boosted its stake in Lazard Ltd. (NYSE:LAZ) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 93,660 shares of the asset manager’s stock after buying an additional 687 shares during the period. Osborne Partners Capital Management LLC’s holdings in Lazard were worth $4,339,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position in Lazard by 6.0% in the first quarter. State of Alaska Department of Revenue now owns 11,030 shares of the asset manager’s stock valued at $507,000 after buying an additional 620 shares during the period. Commonwealth Financial Services LLC boosted its position in Lazard by 7.7% in the first quarter. Commonwealth Financial Services LLC now owns 4,875 shares of the asset manager’s stock valued at $217,000 after buying an additional 347 shares during the period. Nisa Investment Advisors LLC purchased a new position in Lazard during the first quarter valued at $1,026,000. Boston Advisors LLC boosted its position in Lazard by 10.9% in the first quarter. Boston Advisors LLC now owns 25,030 shares of the asset manager’s stock valued at $1,151,000 after buying an additional 2,470 shares during the period. Finally, Evanson Asset Management LLC boosted its position in Lazard by 0.9% in the first quarter. Evanson Asset Management LLC now owns 22,905 shares of the asset manager’s stock valued at $1,053,000 after buying an additional 201 shares during the period. Institutional investors and hedge funds own 73.67% of the company’s stock.
Lazard Ltd. (NYSE:LAZ) traded up 0.25% on Tuesday, reaching $48.13. 377,794 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $46.08 and its 200 day moving average price is $44.34. The company has a market cap of $5.90 billion, a PE ratio of 14.90 and a beta of 1.84. Lazard Ltd. has a 52-week low of $32.53 and a 52-week high of $48.64.
Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, April 27th. The asset manager reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The firm had revenue of $624.43 million for the quarter, compared to the consensus estimate of $611.43 million. Lazard had a net margin of 17.06% and a return on equity of 36.15%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. On average, analysts expect that Lazard Ltd. will post $3.39 earnings per share for the current year.
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Several research firms recently weighed in on LAZ. Credit Suisse Group restated a “buy” rating and set a $50.00 price target on shares of Lazard in a report on Friday, April 21st. Keefe, Bruyette & Woods restated a “buy” rating on shares of Lazard in a report on Tuesday, April 4th. BidaskClub upgraded shares of Lazard from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.89.
In other news, General Counsel Scott D. Hoffman sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $45.13, for a total transaction of $1,579,550.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Alexander F. Stern sold 65,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $44.75, for a total transaction of $2,908,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 190,000 shares of company stock worth $8,521,200. Insiders own 2.50% of the company’s stock.
Lazard Company Profile
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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