Today The Lazard Ltd. (LAZ) Cut to Outperform at Raymond James Financial, Inc.

Today The Lazard Ltd. (LAZ) Cut to Outperform at Raymond James Financial, Inc.

Raymond James Financial, Inc. cut shares of Lazard Ltd. (NYSE:LAZ) from a strong-buy rating to an outperform rating in a research report report published on Friday morning. They currently have $45.00 price objective on the stock.

Several other research firms have also recently commented on LAZ. Nomura restated a buy rating and issued a $47.00 target price on shares of Lazard in a research note on Wednesday, October 5th. Zacks Investment Research upgraded shares of Lazard from a hold rating to a buy rating and set a $40.00 target price for the company in a research note on Wednesday, October 5th. Rafferty Capital Markets upgraded shares of Lazard from a hold rating to a buy rating and set a $41.00 target price for the company in a research note on Thursday, October 27th. Credit Suisse Group started coverage on shares of Lazard in a research note on Sunday, November 20th. They issued an outperform rating and a $42.00 target price for the company. Finally, Bank of America Corporation started coverage on shares of Lazard in a research note on Wednesday, December 14th. They issued an underperform rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $44.50.

Shares of Lazard (NYSE:LAZ) opened at 41.00 on Friday. The stock has a market cap of $5.05 billion, a PE ratio of 13.04 and a beta of 1.92. Lazard has a 1-year low of $26.21 and a 1-year high of $44.07. The stock’s 50 day moving average is $41.58 and its 200-day moving average is $37.60.

A number of institutional investors have recently bought and sold shares of the stock. WCM Investment Management CA increased its position in Lazard by 5.7% in the third quarter. WCM Investment Management CA now owns 5,549,587 shares of the company’s stock valued at $201,783,000 after buying an additional 296,890 shares during the period. Price T Rowe Associates Inc. MD increased its position in Lazard by 7.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 5,038,230 shares of the company’s stock valued at $183,190,000 after buying an additional 342,315 shares during the period. RidgeWorth Capital Management LLC increased its position in Lazard by 23.8% in the second quarter. RidgeWorth Capital Management LLC now owns 3,729,700 shares of the company’s stock valued at $111,593,000 after buying an additional 715,900 shares during the period. Columbia Wanger Asset Management LLC increased its position 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 valued at $90,027,000 after buying an additional 1,847,066 shares during the period. Finally, Morgan Stanley increased its position in Lazard by 20.6% in the third quarter. Morgan Stanley now owns 2,265,455 shares of the company’s stock valued at $82,372,000 after buying an additional 387,261 shares during the period. Hedge funds and other institutional investors own 71.29% of the company’s stock.

About Lazard

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.

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