Lazard Ltd (NYSE:LAZ) Stock Holdings Lessened by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in Lazard Ltd (NYSE:LAZ) by 47.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,537 shares of the asset manager’s stock after selling 5,898 shares during the period. Wedge Capital Management L L P NC’s holdings in Lazard were worth $229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MRJ Capital Inc. increased its holdings in shares of Lazard by 5.6% in the second quarter. MRJ Capital Inc. now owns 83,241 shares of the asset manager’s stock valued at $2,862,000 after buying an additional 4,400 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Lazard by 5.9% in the second quarter. Wells Fargo & Company MN now owns 279,325 shares of the asset manager’s stock valued at $9,606,000 after buying an additional 15,622 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of Lazard by 14.2% in the second quarter. Advisor Group Inc. now owns 19,741 shares of the asset manager’s stock valued at $680,000 after buying an additional 2,462 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Lazard by 0.6% in the second quarter. M&T Bank Corp now owns 71,915 shares of the asset manager’s stock valued at $2,474,000 after buying an additional 456 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Lazard by 1.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 183,511 shares of the asset manager’s stock valued at $6,296,000 after buying an additional 2,406 shares in the last quarter. 77.54% of the stock is currently owned by institutional investors.

NYSE:LAZ traded up $0.03 during trading hours on Friday, hitting $38.45. 370,576 shares of the stock traded hands, compared to its average volume of 872,406. The firm has a 50 day moving average price of $36.40 and a 200 day moving average price of $35.61. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 3.11. Lazard Ltd has a fifty-two week low of $31.07 and a fifty-two week high of $41.76. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 9.24 and a beta of 1.73.

Lazard (NYSE:LAZ) last announced its earnings results on Thursday, October 31st. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.03. Lazard had a net margin of 12.29% and a return on equity of 48.60%. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $612.98 million. During the same period in the previous year, the business earned $0.86 EPS. The company’s revenue was down 3.0% on a year-over-year basis. Research analysts predict that Lazard Ltd will post 3.15 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 4.89%. The ex-dividend date is Thursday, November 7th. Lazard’s dividend payout ratio (DPR) is currently 45.19%.

In other Lazard news, CAO Scott D. Hoffman sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $34.04, for a total transaction of $1,021,200.00. Following the sale, the chief accounting officer now directly owns 24,388 shares of the company’s stock, valued at approximately $830,167.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.94% of the stock is owned by insiders.

Several research analysts have issued reports on the company. Zacks Investment Research raised Lazard from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a report on Wednesday, September 11th. ValuEngine raised shares of Lazard from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Buckingham Research cut their target price on shares of Lazard from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $38.80.

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.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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