Epoch Investment Partners Inc. Reduces Position in Lazard Ltd (NYSE:LAZ)

Epoch Investment Partners Inc. cut its position in Lazard Ltd (NYSE:LAZ) by 11.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,241,993 shares of the asset manager’s stock after selling 295,513 shares during the period. Epoch Investment Partners Inc.’s holdings in Lazard were worth $101,450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. ProShare Advisors LLC increased its position in shares of Lazard by 3.3% in the 2nd quarter. ProShare Advisors LLC now owns 9,659 shares of the asset manager’s stock valued at $437,000 after purchasing an additional 305 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Lazard by 1.2% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 27,775 shares of the asset manager’s stock valued at $1,256,000 after purchasing an additional 330 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Lazard by 9.4% in the 2nd quarter. Raymond James Trust N.A. now owns 5,927 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 508 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Lazard by 1.7% in the 1st quarter. Ameriprise Financial Inc. now owns 40,064 shares of the asset manager’s stock valued at $1,741,000 after purchasing an additional 673 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Lazard by 6.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 12,119 shares of the asset manager’s stock valued at $548,000 after purchasing an additional 727 shares during the last quarter. 75.51% of the stock is currently owned by institutional investors.

In other news, President Alexander F. Stern sold 90,000 shares of the firm’s stock in a transaction on Friday, August 20th. The shares were sold at an average price of $45.50, for a total value of $4,095,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dominick Ragone sold 19,892 shares of the firm’s stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $47.54, for a total transaction of $945,665.68. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

LAZ has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Lazard from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Wednesday, September 29th. Keefe, Bruyette & Woods raised shares of Lazard from a “market perform” rating to an “outperform” rating and increased their target price for the company from $53.00 to $58.00 in a research report on Thursday, September 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $52.33.

NYSE:LAZ traded up $0.23 during trading hours on Thursday, reaching $49.64. 1,401 shares of the company’s stock were exchanged, compared to its average volume of 647,642. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 11.96 and a beta of 1.54. The company has a 50-day moving average of $47.63 and a 200 day moving average of $46.37. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.81. Lazard Ltd has a 1-year low of $32.38 and a 1-year high of $50.10.

Lazard (NYSE:LAZ) last issued its quarterly earnings results on Friday, July 30th. The asset manager reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.40. The firm had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $658.18 million. Lazard had a net margin of 15.75% and a return on equity of 57.66%. Lazard’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. Research analysts forecast that Lazard Ltd will post 4.64 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Monday, August 9th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Friday, August 6th. Lazard’s dividend payout ratio is currently 52.22%.

Lazard Company Profile

Lazard Ltd. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients, an array of financial advisory services regarding mergers and acquisitions, restructurings, capital structure, capital raising, and corporate preparedness.

Featured Article: How to Trade Using Analysts Ratings

Want to see what other hedge funds are holding LAZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lazard Ltd (NYSE:LAZ).

Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.