Lazard, Inc. (NYSE:LAZ) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC lessened its position in shares of Lazard, Inc. (NYSE:LAZFree Report) by 13.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,753 shares of the asset manager’s stock after selling 1,694 shares during the quarter. New York Life Investment Management LLC’s holdings in Lazard were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. CENTRAL TRUST Co lifted its holdings in Lazard by 88.7% during the 3rd quarter. CENTRAL TRUST Co now owns 800 shares of the asset manager’s stock worth $25,000 after buying an additional 376 shares during the last quarter. Larson Financial Group LLC bought a new position in Lazard during the 3rd quarter worth approximately $27,000. Parallel Advisors LLC lifted its holdings in Lazard by 130.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,001 shares of the asset manager’s stock worth $32,000 after buying an additional 566 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Lazard during the 1st quarter worth approximately $48,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Lazard by 489.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the asset manager’s stock worth $55,000 after purchasing an additional 1,434 shares during the period. Institutional investors own 57.64% of the company’s stock.

Lazard Stock Down 0.4 %

LAZ opened at $38.56 on Tuesday. Lazard, Inc. has a 12 month low of $25.82 and a 12 month high of $42.15. The company has a debt-to-equity ratio of 4.03, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market cap of $4.35 billion, a P/E ratio of -39.75 and a beta of 1.46. The stock’s 50 day moving average price is $36.54 and its 200 day moving average price is $32.99.

Lazard (NYSE:LAZGet Free Report) last posted its earnings results on Thursday, February 1st. The asset manager reported $0.66 EPS for the quarter, beating the consensus estimate of $0.35 by $0.31. Lazard had a positive return on equity of 16.75% and a negative net margin of 2.93%. The firm had revenue of $825.70 million for the quarter, compared to analysts’ expectations of $666.56 million. During the same period last year, the firm earned $0.69 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, research analysts predict that Lazard, Inc. will post 3.24 earnings per share for the current year.

Lazard Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Friday, February 9th. Lazard’s payout ratio is currently -206.18%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LAZ. Morgan Stanley increased their price target on Lazard from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. TheStreet upgraded Lazard from a “d+” rating to a “c+” rating in a research report on Monday, February 5th. StockNews.com upgraded Lazard from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group increased their price target on Lazard from $28.00 to $31.00 and gave the stock a “sell” rating in a research report on Tuesday, December 19th. Finally, UBS Group increased their price target on Lazard from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.67.

Read Our Latest Analysis on Lazard

About Lazard

(Free Report)

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 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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