Whittier Trust Co. of Nevada Inc. increased its stake in Lazard Ltd (NYSE:LAZ) by 32.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,742 shares of the company’s stock after buying an additional 1,647 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Lazard were worth $201,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board raised its position in shares of Lazard by 3.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,200 shares of the company’s stock valued at $124,000 after buying an additional 100 shares during the last quarter. BB&T Securities LLC raised its position in shares of Lazard by 23.5% in the first quarter. BB&T Securities LLC now owns 6,566 shares of the company’s stock valued at $254,000 after buying an additional 1,251 shares during the last quarter. Commonwealth Equity Services Inc raised its position in shares of Lazard by 5.3% in the first quarter. Commonwealth Equity Services Inc now owns 7,471 shares of the company’s stock valued at $290,000 after buying an additional 379 shares during the last quarter. BlackRock Inc. bought a new position in shares of Lazard during the first quarter valued at $414,000. Finally, IBM Retirement Fund raised its position in shares of Lazard by 0.8% in the second quarter. IBM Retirement Fund now owns 12,870 shares of the company’s stock valued at $383,000 after buying an additional 100 shares during the last quarter.
Shares of Lazard Ltd (NYSE:LAZ) traded down 1.09% during mid-day trading on Wednesday, reaching $34.53. 404,356 shares of the company’s stock traded hands. Lazard Ltd has a 1-year low of $26.21 and a 1-year high of $49.57. The firm has a 50-day moving average price of $36.41 and a 200-day moving average price of $34.97. The company has a market capitalization of $4.29 billion, a P/E ratio of 6.53 and a beta of 2.20.
Lazard (NYSE:LAZ) last released its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The business had revenue of $542.30 million for the quarter, compared to analysts’ expectations of $542.68 million. During the same period last year, the firm earned $0.98 EPS. The company’s revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Lazard Ltd will post $2.84 earnings per share for the current fiscal year.
Several research analysts recently commented on the stock. Credit Suisse Group AG restated a “buy” rating and issued a $42.00 price target on shares of Lazard in a report on Tuesday, September 6th. Zacks Investment Research upgraded shares of Lazard from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th. TheStreet upgraded shares of Lazard to a “buy” rating in a report on Thursday, August 18th. Finally, Nomura restated a “buy” rating and issued a $47.00 price target on shares of Lazard in a report on Wednesday, October 5th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Lazard currently has a consensus rating of “Buy” and an average price target of $49.11.
In other Lazard news, Director Jane L. Mendillo bought 1,400 shares of the stock in a transaction on Tuesday, August 2nd. The shares were bought at an average price of $35.22 per share, with a total value of $49,308.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Scott D. Hoffman sold 42,000 shares of Lazard stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $34.92, for a total value of $1,466,640.00. The disclosure for this sale can be found here.
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.