Lazard Ltd (LAZ) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. lifted its position in Lazard Ltd (NYSE:LAZ) by 5.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 789,479 shares of the asset manager’s stock after acquiring an additional 38,452 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Lazard were worth $41,448,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of Lazard by 9.0% in the 2nd 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 in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Lazard by 2.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 19,025 shares of the asset manager’s stock valued at $881,000 after acquiring an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Lazard by 18.4% in the 2nd 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 in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Lazard by 4.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 25,979 shares of the asset manager’s stock valued at $1,175,000 after acquiring an additional 1,076 shares in the last quarter. Finally, ETRADE Capital Management LLC lifted its position in shares of Lazard by 18.5% in the 3rd quarter. ETRADE Capital Management LLC now owns 6,971 shares of the asset manager’s stock valued at $315,000 after acquiring an additional 1,088 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Several equities research analysts recently commented on the stock. TheStreet downgraded shares of Lazard from an “a-” rating to a “c+” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of Lazard from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Monday. JMP Securities upped their price objective on shares of Lazard from $63.00 to $65.00 and gave the company a “market outperform” rating in a research note on Friday, February 2nd. Nomura upped their price objective on shares of Lazard from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $67.00 price objective on shares of Lazard in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Lazard has a consensus rating of “Buy” and a consensus target price of $60.56.

Lazard Ltd (LAZ) opened at $54.23 on Friday. The firm has a market cap of $7,414.83, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.35 and a beta of 1.84. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.09 and a quick ratio of 2.09. Lazard Ltd has a 12 month low of $40.50 and a 12 month high of $60.00.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.20. The firm had revenue of $683.00 million for the quarter, compared to analyst estimates of $658.86 million. Lazard had a net margin of 9.40% and a return on equity of 38.66%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. equities research analysts expect that Lazard Ltd will post 3.99 earnings per share for the current year.

Lazard declared that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 12th will be paid a $0.116 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.46 annualized dividend and a yield of 0.86%. Lazard’s dividend payout ratio is presently 89.13%.

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About Lazard

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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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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