Sicart Associates LLC grew its holdings in Lazard Ltd (NYSE:LAZ) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,000 shares of the asset manager’s stock after buying an additional 8,000 shares during the quarter. Lazard makes up 1.2% of Sicart Associates LLC’s portfolio, making the stock its 24th largest position. Sicart Associates LLC’s holdings in Lazard were worth $2,205,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in Lazard by 9.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,701 shares of the asset manager’s stock valued at $172,000 after acquiring an additional 306 shares during the last quarter. SG Americas Securities LLC bought a new position in Lazard in the second quarter valued at about $179,000. Cambridge Investment Research Advisors Inc. bought a new position in Lazard in the third quarter valued at about $221,000. The Manufacturers Life Insurance Company boosted its holdings in Lazard by 18.4% in the second quarter. The Manufacturers Life Insurance Company now owns 4,843 shares of the asset manager’s stock valued at $225,000 after acquiring an additional 753 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Lazard by 57.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,327 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 1,947 shares during the last quarter. Institutional investors own 73.47% of the company’s stock.
Shares of Lazard Ltd (LAZ) traded down $1.63 on Wednesday, reaching $56.08. The company’s stock had a trading volume of 1,012,500 shares, compared to its average volume of 756,950. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.09 and a current ratio of 2.09. Lazard Ltd has a 12-month low of $40.37 and a 12-month high of $58.42. The company has a market capitalization of $7,360.00, a PE ratio of 15.66, a P/E/G ratio of 1.41 and a beta of 1.89.
Lazard (NYSE:LAZ) last issued its earnings results on Thursday, October 26th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.10. Lazard had a return on equity of 38.81% and a net margin of 17.16%. The firm had revenue of $624.00 million for the quarter, compared to analysts’ expectations of $593.19 million. During the same quarter last year, the business earned $0.85 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. equities analysts expect that Lazard Ltd will post 3.57 earnings per share for the current fiscal year.
Lazard declared that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
LAZ has been the topic of several recent research reports. ValuEngine cut Lazard from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 3rd. Zacks Investment Research upgraded Lazard from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a report on Monday, October 23rd. Buckingham Research raised their price target on Lazard from $53.00 to $54.00 and gave the company a “buy” rating in a report on Friday, October 27th. Nomura raised their target price on Lazard from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Instinet upgraded Lazard from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $53.80.
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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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