Envestnet Asset Management Inc. Decreases Stake in Lazard Ltd (NYSE:LAZ)

Envestnet Asset Management Inc. reduced its stake in Lazard Ltd (NYSE:LAZGet Rating) by 6.2% during the second quarter, Holdings Channel.com reports. The firm owned 34,312 shares of the asset manager’s stock after selling 2,257 shares during the period. Envestnet Asset Management Inc.’s holdings in Lazard were worth $1,112,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Lazard by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 9,806,160 shares of the asset manager’s stock worth $338,313,000 after buying an additional 75,453 shares during the last quarter. Ariel Investments LLC grew its position in shares of Lazard by 5.4% in the 1st quarter. Ariel Investments LLC now owns 8,560,437 shares of the asset manager’s stock worth $295,335,000 after buying an additional 439,866 shares during the last quarter. BlackRock Inc. grew its position in shares of Lazard by 4.7% in the 1st quarter. BlackRock Inc. now owns 4,606,153 shares of the asset manager’s stock worth $158,912,000 after buying an additional 206,787 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Lazard by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,247,090 shares of the asset manager’s stock worth $77,525,000 after buying an additional 150,723 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Lazard by 27.2% in the 1st quarter. Fisher Asset Management LLC now owns 2,007,185 shares of the asset manager’s stock worth $69,248,000 after buying an additional 429,669 shares during the last quarter.

Lazard Trading Up 0.5 %

Lazard stock opened at $36.94 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 2.49. The business’s fifty day simple moving average is $35.00 and its two-hundred day simple moving average is $35.05. Lazard Ltd has a 12 month low of $30.20 and a 12 month high of $46.74. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 7.55 and a beta of 1.43.

Lazard Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.41%. The ex-dividend date was Friday, November 4th. Lazard’s dividend payout ratio (DPR) is 40.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LAZ. StockNews.com upgraded Lazard from a “hold” rating to a “buy” rating in a research report on Monday, October 31st. The Goldman Sachs Group lifted their price target on Lazard from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, August 4th. Finally, Morgan Stanley lifted their price target on Lazard from $28.00 to $29.00 and gave the company an “underweight” rating in a research report on Monday, October 31st. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.57.

Lazard Company Profile

(Get Rating)

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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