Lazard, Inc. (NYSE:LAZ) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in Lazard, Inc. (NYSE:LAZ) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,862,389 shares of the asset manager’s stock after buying an additional 90,152 shares during the quarter. Fisher Asset Management LLC’s holdings in Lazard were worth $95,876,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LAZ. Creative Planning acquired a new stake in Lazard in the third quarter worth about $421,000. International Assets Investment Management LLC lifted its holdings in Lazard by 348.9% in the third quarter. International Assets Investment Management LLC now owns 17,604 shares of the asset manager’s stock worth $887,000 after purchasing an additional 13,682 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Lazard in the third quarter worth about $235,000. US Bancorp DE lifted its holdings in Lazard by 2,053.6% in the third quarter. US Bancorp DE now owns 5,104 shares of the asset manager’s stock worth $257,000 after purchasing an additional 4,867 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Lazard by 8.1% in the third quarter. Janney Montgomery Scott LLC now owns 49,763 shares of the asset manager’s stock worth $2,507,000 after purchasing an additional 3,717 shares during the period. Institutional investors and hedge funds own 54.80% of the company’s stock.

Lazard Price Performance

NYSE LAZ opened at $50.24 on Friday. The stock’s 50-day moving average price is $51.70 and its two-hundred day moving average price is $51.83. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 2.72. The company has a market cap of $5.67 billion, a PE ratio of 18.89 and a beta of 1.41. Lazard, Inc. has a 1 year low of $35.56 and a 1 year high of $61.14.

Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. Lazard had a return on equity of 44.58% and a net margin of 8.98%. On average, analysts predict that Lazard, Inc. will post 4.24 EPS for the current year.

Lazard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, February 10th. This represents a $2.00 annualized dividend and a yield of 3.98%. Lazard’s payout ratio is presently 75.19%.

Insiders Place Their Bets

In other Lazard news, CEO Evan L. Russo sold 35,000 shares of Lazard stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $53.64, for a total transaction of $1,877,400.00. Following the transaction, the chief executive officer now owns 188,448 shares of the company’s stock, valued at $10,108,350.72. The trade was a 15.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.86% of the company’s stock.

Analysts Set New Price Targets

LAZ has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Lazard from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their price target on shares of Lazard from $51.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Lazard from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Morgan Stanley boosted their price target on shares of Lazard from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group dropped their price target on shares of Lazard from $51.00 to $44.00 and set a “sell” rating on the stock in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.33.

About Lazard

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.