Rockefeller Capital Management L.P. increased its stake in shares of Lazard Ltd (NYSE:LAZ) by 166,666.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,003 shares of the asset manager’s stock after purchasing an additional 5,000 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Lazard were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in LAZ. FMR LLC boosted its holdings in shares of Lazard by 2.9% in the 4th quarter. FMR LLC now owns 10,939,958 shares of the asset manager’s stock valued at $437,160,000 after purchasing an additional 307,999 shares during the last quarter. First Trust Advisors LP increased its position in shares of Lazard by 32.3% in the third quarter. First Trust Advisors LP now owns 533,148 shares of the asset manager’s stock worth $18,660,000 after acquiring an additional 130,131 shares in the last quarter. AMG National Trust Bank purchased a new position in shares of Lazard in the 3rd quarter valued at $2,258,000. Adirondack Research & Management Inc. purchased a new position in shares of Lazard in the 3rd quarter valued at $1,983,000. Finally, Boston Partners purchased a new position in shares of Lazard in the 3rd quarter valued at $1,496,000. 78.30% of the stock is owned by hedge funds and other institutional investors.
Shares of LAZ stock traded down $1.16 on Friday, hitting $35.28. The stock had a trading volume of 92,221 shares, compared to its average volume of 699,050. The stock’s 50 day moving average is $42.48 and its 200-day moving average is $38.35. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 14.48 and a beta of 1.70. Lazard Ltd has a 52-week low of $31.07 and a 52-week high of $44.95. The company has a debt-to-equity ratio of 3.40, a quick ratio of 1.91 and a current ratio of 1.91.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date is Friday, February 14th. Lazard’s payout ratio is 57.32%.
A number of analysts recently weighed in on LAZ shares. ValuEngine downgraded Lazard from a “hold” rating to a “sell” rating in a report on Saturday, February 15th. Cfra boosted their price objective on Lazard from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Buckingham Research upped their target price on Lazard from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods lowered Lazard from an “outperform” rating to a “market perform” rating in a research note on Monday, January 27th. Finally, Zacks Investment Research upgraded Lazard from a “strong sell” rating to a “hold” rating and set a $42.00 target price on the stock in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.43.
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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