Virtu KCG Holdings LLC lifted its holdings in shares of Lazard Ltd. (NYSE:LAZ) by 286.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,359 shares of the asset manager’s stock after buying an additional 13,606 shares during the quarter. Virtu KCG Holdings LLC’s holdings in Lazard were worth $851,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in LAZ. BlackRock Inc. boosted its holdings in Lazard by 68,589.3% in the 1st quarter. BlackRock Inc. now owns 7,603,906 shares of the asset manager’s stock worth $349,704,000 after buying an additional 7,592,836 shares during the period. LSV Asset Management grew its stake in Lazard by 560.2% in the 2nd quarter. LSV Asset Management now owns 3,428,390 shares of the asset manager’s stock valued at $158,837,000 after buying an additional 2,909,090 shares in the last quarter. BT Investment Management Ltd purchased a new position in Lazard in the 2nd quarter valued at approximately $94,831,000. Vanguard Group Inc. grew its stake in Lazard by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 10,967,499 shares of the asset manager’s stock valued at $508,124,000 after buying an additional 750,941 shares in the last quarter. Finally, FMR LLC grew its stake in Lazard by 35.2% in the 2nd quarter. FMR LLC now owns 1,647,335 shares of the asset manager’s stock valued at $76,322,000 after buying an additional 429,046 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub upgraded Lazard from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, ValuEngine upgraded Lazard from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $46.89.
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Lazard Ltd. (LAZ) opened at 45.72 on Wednesday. The company has a market capitalization of $5.56 billion, a P/E ratio of 12.95 and a beta of 1.85. The firm has a 50-day moving average of $42.78 and a 200 day moving average of $44.64. Lazard Ltd. has a one year low of $33.48 and a one year high of $48.86.
Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.98 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $627.12 million. During the same period in the previous year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 32.8% on a year-over-year basis. On average, equities analysts forecast that Lazard Ltd. will post $3.52 EPS for the current fiscal year.
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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