Camelot Portfolios LLC purchased a new position in shares of Lazard Ltd (NYSE:LAZ) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 18,200 shares of the company’s stock, valued at approximately $662,000.
A number of other hedge funds have also bought and sold shares of the stock. Columbia Wanger Asset Management LLC boosted its stake in Lazard by 157.1% in the second quarter. Columbia Wanger Asset Management LLC now owns 3,023,066 shares of the company’s stock worth $90,027,000 after buying an additional 1,847,066 shares in the last quarter. RidgeWorth Capital Management LLC boosted its stake in Lazard by 23.8% in the second quarter. RidgeWorth Capital Management LLC now owns 3,729,700 shares of the company’s stock worth $111,593,000 after buying an additional 715,900 shares in the last quarter. Darrell & King LLC acquired a new stake in Lazard during the third quarter worth $24,528,000. Bank of Montreal Can acquired a new stake in Lazard during the second quarter worth $18,285,000. Finally, CI Investments Inc. boosted its stake in Lazard by 60.6% in the second quarter. CI Investments Inc. now owns 1,334,068 shares of the company’s stock worth $39,729,000 after buying an additional 503,500 shares in the last quarter.
Shares of Lazard Ltd (NYSE:LAZ) opened at 40.05 on Friday. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 12.74 and a beta of 2.20. Lazard Ltd has a one year low of $26.21 and a one year high of $47.87. The firm has a 50-day moving average price of $37.18 and a 200-day moving average price of $35.08.
Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The firm earned $611 million during the quarter, compared to analysts’ expectations of $593.03 million. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 earnings per share. Analysts anticipate that Lazard Ltd will post $3.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were given a $0.38 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 3.80%.
LAZ has been the topic of a number of analyst reports. TheStreet upgraded Lazard to a “buy” rating in a research note on Thursday, August 18th. Credit Suisse Group AG reiterated a “buy” rating and set a $42.00 target price on shares of Lazard in a research report on Tuesday, September 6th. Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Nomura reiterated a “buy” rating and set a $47.00 target price on shares of Lazard in a research report on Wednesday, October 5th. Finally, Rafferty Capital Markets upgraded Lazard from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Thursday, October 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $47.00.
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients 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.