Lazard Ltd (NYSE:LAZ – Get Rating) saw a significant decline in short interest in December. As of December 30th, there was short interest totalling 3,030,000 shares, a decline of 6.2% from the December 15th total of 3,230,000 shares. Based on an average daily volume of 792,600 shares, the days-to-cover ratio is currently 3.8 days. Currently, 2.8% of the shares of the stock are sold short.
Lazard Stock Up 0.4 %
Shares of LAZ opened at $40.13 on Tuesday. The firm has a market cap of $4.53 billion, a P/E ratio of 8.21 and a beta of 1.39. The stock has a 50 day simple moving average of $36.74 and a two-hundred day simple moving average of $36.04. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.82 and a quick ratio of 1.82. Lazard has a 1 year low of $30.20 and a 1 year high of $45.20.
Lazard (NYSE:LAZ – Get Rating) last issued its earnings results on Thursday, October 27th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.24. Lazard had a return on equity of 60.19% and a net margin of 16.76%. The business had revenue of $723.55 million during the quarter, compared to analyst estimates of $637.94 million. On average, analysts forecast that Lazard will post 3.75 earnings per share for the current fiscal year.
Lazard Announces Dividend
Analyst Ratings Changes
Several brokerages have recently commented on LAZ. JMP Securities cut their price objective on Lazard from $56.00 to $53.00 and set a “market outperform” rating for the company in a report on Tuesday, January 10th. Morgan Stanley boosted their price objective on Lazard from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, October 31st. Finally, StockNews.com raised Lazard from a “hold” rating to a “buy” rating in a report on Monday, October 31st. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.50.
Insider Transactions at Lazard
In other news, President Alexander F. Stern sold 49,000 shares of the business’s stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $36.39, for a total transaction of $1,783,110.00. Following the completion of the transaction, the president now owns 50,258 shares of the company’s stock, valued at $1,828,888.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.86% of the stock is owned by insiders.
Institutional Trading of Lazard
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Lazard by 1.3% in the third quarter. Vanguard Group Inc. now owns 10,065,467 shares of the asset manager’s stock valued at $320,383,000 after purchasing an additional 128,061 shares during the last quarter. Ariel Investments LLC lifted its position in Lazard by 5.4% in the first quarter. Ariel Investments LLC now owns 8,560,437 shares of the asset manager’s stock valued at $295,335,000 after purchasing an additional 439,866 shares during the last quarter. BlackRock Inc. lifted its position in Lazard by 0.5% in the third quarter. BlackRock Inc. now owns 4,669,725 shares of the asset manager’s stock valued at $148,638,000 after purchasing an additional 25,207 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Lazard by 14.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,750,853 shares of the asset manager’s stock valued at $121,565,000 after purchasing an additional 462,677 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Lazard by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,247,090 shares of the asset manager’s stock valued at $77,525,000 after purchasing an additional 150,723 shares during the last quarter. Institutional investors own 63.55% of the company’s stock.
Lazard Company Profile
Lazard Ltd. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients, an array of financial advisory services regarding mergers and acquisitions, restructurings, capital structure, capital raising, and corporate preparedness.
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