Franklin Resources Inc. increased its position in Lazard Ltd (NYSE:LAZ) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,044,960 shares of the asset manager’s stock after acquiring an additional 36,835 shares during the quarter. Franklin Resources Inc. owned about 0.81% of Lazard worth $50,294,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Lazard by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 826,303 shares of the asset manager’s stock worth $39,769,000 after buying an additional 3,756 shares during the last quarter. Redwood Investment Management LLC lifted its position in Lazard by 3.0% in the 3rd quarter. Redwood Investment Management LLC now owns 103,899 shares of the asset manager’s stock worth $5,001,000 after buying an additional 3,070 shares during the last quarter. Crawford Investment Counsel Inc. lifted its position in Lazard by 12.1% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 186,782 shares of the asset manager’s stock worth $8,990,000 after buying an additional 20,095 shares during the last quarter. American International Group Inc. lifted its position in Lazard by 106.1% in the 3rd quarter. American International Group Inc. now owns 40,019 shares of the asset manager’s stock worth $1,926,000 after buying an additional 20,604 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Lazard by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 423,434 shares of the asset manager’s stock worth $20,380,000 after buying an additional 7,236 shares during the last quarter. 71.37% of the stock is owned by institutional investors.
Shares of Lazard stock opened at $35.48 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 8.53, a P/E/G ratio of 1.06 and a beta of 1.85. Lazard Ltd has a one year low of $35.44 and a one year high of $60.00.
Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, October 25th. The asset manager reported $0.86 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.07). The company had revenue of $605.61 million during the quarter. Lazard had a return on equity of 49.98% and a net margin of 11.49%. As a group, equities analysts expect that Lazard Ltd will post 4.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 5th were paid a $0.44 dividend. The ex-dividend date was Friday, November 2nd. This represents a $1.76 dividend on an annualized basis and a yield of 4.96%. Lazard’s dividend payout ratio (DPR) is currently 46.56%.
LAZ has been the subject of a number of recent research reports. Goldman Sachs Group initiated coverage on Lazard in a research report on Tuesday, November 6th. They issued a “neutral” rating and a $46.00 target price for the company. ValuEngine upgraded Lazard from a “strong sell” rating to a “sell” rating in a research report on Friday, November 23rd. Zacks Investment Research downgraded Lazard from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Wolfe Research initiated coverage on Lazard in a research report on Tuesday, September 25th. They issued a “market perform” rating for the company. Finally, Buckingham Research dropped their target price on Lazard from $64.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Lazard presently has an average rating of “Hold” and an average price target of $57.75.
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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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