Lazard Ltd. (LAZ) Stake Boosted by Robeco Institutional Asset Management B.V.
Robeco Institutional Asset Management B.V. grew its position in Lazard Ltd. (NYSE:LAZ) by 71.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,490 shares of the asset manager’s stock after purchasing an additional 35,490 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.07% of Lazard worth $3,866,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Dividend Assets Capital LLC raised its position in shares of Lazard by 0.7% in the second quarter. Dividend Assets Capital LLC now owns 10,255 shares of the asset manager’s stock valued at $475,000 after purchasing an additional 75 shares during the period. New York State Teachers Retirement System raised its position in shares of Lazard by 0.9% in the first quarter. New York State Teachers Retirement System now owns 11,200 shares of the asset manager’s stock valued at $515,000 after purchasing an additional 100 shares during the period. Evanson Asset Management LLC raised its position in shares of Lazard by 0.9% in the second quarter. Evanson Asset Management LLC now owns 23,117 shares of the asset manager’s stock valued at $1,071,000 after purchasing an additional 212 shares during the period. Cadence Capital Management LLC raised its position in shares of Lazard by 1.6% in the second quarter. Cadence Capital Management LLC now owns 14,755 shares of the asset manager’s stock valued at $684,000 after purchasing an additional 232 shares during the period. Finally, Aperio Group LLC raised its position in shares of Lazard by 3.3% in the second quarter. Aperio Group LLC now owns 8,430 shares of the asset manager’s stock valued at $391,000 after purchasing an additional 266 shares during the period. 72.21% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on LAZ. Zacks Investment Research lowered shares of Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. ValuEngine raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Finally, Buckingham Research lifted their price target on shares of Lazard from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Friday. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $48.88.
Shares of Lazard Ltd. (LAZ) opened at 47.38 on Tuesday. The stock has a 50 day moving average of $44.51 and a 200 day moving average of $44.71. The firm has a market cap of $5.76 billion, a P/E ratio of 13.42 and a beta of 1.85. Lazard Ltd. has a 52 week low of $36.59 and a 52 week high of $48.86.
Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Lazard had a return on equity of 39.56% and a net margin of 17.16%. The business had revenue of $624.00 million for the quarter, compared to analysts’ expectations of $593.19 million. During the same quarter in the prior year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that Lazard Ltd. will post $3.59 earnings per share for the current year.
Lazard announced that its board has authorized a share repurchase plan on Wednesday, October 25th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, November 3rd. Lazard’s dividend payout ratio (DPR) is presently 46.86%.
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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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