The most recent Form 13F filing that the company made with the Securities and Exchange Commission revealed that during the third quarter of 2018, the State of Alaska Department of Revenue opened a new position in shares of Lazard Ltd. (NYSE: LAZ). To purchase 15,748 shares of the asset manager’s stock, the organization laid out close to a quarter of a million dollars in total expenditures.
Recently, transactions involving the company’s stock have taken place with other hedge funds. These transactions involved the company. During the second quarter, TD Asset Management Inc. increased the amount of Lazard stock owned by 8.5%, bringing the total to 100%. TD Asset Management Inc. is now the owner of a total of 114,721 shares in the asset manager after purchasing an additional 8,983 shares during the most recent quarter. The value of TD Asset Management Inc.’s holdings in the asset manager is currently $3,718,000. During the second quarter, Jennison Associates LLC increased its holdings in Lazard by a total of 3.6% by purchasing additional shares. After acquiring an additional 31,346 shares during the most recent quarter, Jennison Associates LLC now has 896,856 shares of the asset manager’s stock in its possession. The total value of Jennison Associates LLC’s stock holdings, as determined by today’s market, is $29,067,000. During the second quarter, Jeppson Wealth Management LLC accomplished a 41.3% increase in the percentage of Lazard in which it was invested. Jeppson Wealth Management LLC now has 8,795 shares of the asset manager’s stock in its possession after making an additional purchase of 2,570 shares during the most recent quarter. The total value of these holdings is $285,000. The amount of Lazard owned by Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased by 15.5% throughout the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now has 73,167 shares of the asset manager’s stock due to purchasing 9,800 additional shares during the most recent quarter. These shares have a total value of approximately $2,371,000. And finally, during the second quarter, EMC Capital Management amassed a whopping 50.9% more shares of Lazard than it had during the previous quarter. EMC Capital Management now has 6,802 shares of the asset manager’s stock after purchasing an additional 2,294 shares during the preceding quarter. Each share is estimated to have a value of $220,000, and the total value of EMC Capital Management’s stock holdings is $220,000. Institutional investors and hedge funds own 63.5 percent of the company’s shares. Other shareholders make up the remaining 35%.
According to additional Lazard-related news, President Alexander F. Stern sold 49,000 shares of the company’s stock on November 29. This transaction was reported in another piece of Lazard-related news. There were a total of 1,783,110.00 worth of transactions involving the stock, and each share was sold for an average price of $36.39, resulting in a total value of $1,783,110.00. As a direct result of the transaction, the company’s president is now the owner of 50,258 shares of the company’s stock, which are worth $1,828,888.62. The sale was brought to the general public’s attention using a legal filing handed to the SEC. On the website of the SEC, you can locate this particular file. At this time, approximately 3.86% of the company’s stock is held by insiders.
Several different equity research analysts have written recent reports on the company. These studies emphasized more recent happenings. The price target for Lazard was increased from $28.00 to $29.00 in a report distributed by Morgan Stanley on October 31. Additionally, the rating for the company was changed from “overweight” to “underweight.” In a research report released on Tuesday, JMP Securities lowered its price objective for Lazard from $56 to $53. The new price objective is $53. The company reaffirmed that it has a “market outperform” rating on the stock even though this change was made. Last, I want to mention that StockNews.com changed its rating for Lazard from “hold” to “buy” in a report published on October 31. Three equity research specialists advise against buying the stock, one advises against selling the stock, and one advises against holding the stock. According to a report by Bloomberg, the current consensus recommendation for the stock is “Hold,” and the price target has been established at $38.50.
When trading began on Friday, a single share of Lazard stock could be purchased for $38.09 per share. The current price of a share of the company’s stock is at a fifty-day moving average of $36.39 and a 200-day moving average of $35.71. The stock has a P/E ratio of 7.79 and a beta value of 1.39; combined, these metrics result in a market value of $4.30 billion. Lazard Ltd. reached its one-year high of $46.27 and its one-year low of $30.20 during the period covered by this report. While the current ratio is 1.82 and the quick ratio is also 1.82, the debt-to-equity ratio comes in at 2.49. The debt-to-equity ratio includes both long-term and short-term debt.
On Thursday, October 27, Lazard’s most recent quarterly earnings report (NYSE: LAZ) was made public for investors to view. The investment manager’s quarterly earnings per share of $1.05 were $0.24 higher than the consensus estimate of $0.81 that analysts had provided. The analysts had estimated that the investment manager would earn $0.81 per share. The reported revenue for the company during the quarter was $723.55 million, which is significantly higher than the $637.94 million anticipated revenue during the quarter. Lazard Capital Markets had a return on equity of 60.19 percent, and the net margin for the company was 16.76 percent. Lazard Ltd. is expected to generate earnings of $3.91 per share for the current fiscal year, as stated by the forecasts of industry professionals who specialize in market research.
In addition, on November 18, the company announced the distribution of a quarterly dividend, which was paid out on the same day. On Monday, November 7, $0.50 dividend payments per share were mailed.