Livingston Group Asset Management CO operating as Southport Capital Management Reduces Position in Lazard Ltd (NYSE:LAZ)

Livingston Group Asset Management CO operating as Southport Capital Management cut its holdings in shares of Lazard Ltd (NYSE:LAZ) by 9.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,043 shares of the asset manager’s stock after selling 2,242 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Lazard were worth $964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in LAZ. Samalin Investment Counsel LLC purchased a new stake in shares of Lazard during the second quarter valued at $33,000. Dark Forest Capital Management LP purchased a new stake in shares of Lazard during the second quarter valued at $34,000. Steward Partners Investment Advisory LLC boosted its position in shares of Lazard by 79.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,126 shares of the asset manager’s stock valued at $51,000 after buying an additional 500 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Lazard during the second quarter valued at $66,000. Finally, US Bancorp DE boosted its position in shares of Lazard by 223.1% during the second quarter. US Bancorp DE now owns 2,252 shares of the asset manager’s stock valued at $102,000 after buying an additional 1,555 shares during the last quarter. 75.68% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on LAZ. Keefe, Bruyette & Woods raised Lazard from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $53.00 to $58.00 in a research report on Thursday, September 30th. Zacks Investment Research cut 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $52.33.

In other news, CAO Scott D. Hoffman sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $46.20, for a total value of $1,155,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Dominick Ragone sold 19,892 shares of Lazard stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $47.54, for a total value of $945,665.68. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Shares of NYSE LAZ traded down $0.51 during trading on Thursday, hitting $45.83. The company had a trading volume of 283,581 shares, compared to its average volume of 623,007. The stock has a 50 day simple moving average of $48.30 and a 200 day simple moving average of $47.07. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.79 and a current ratio of 1.79. Lazard Ltd has a 12 month low of $37.14 and a 12 month high of $53.00. The firm has a market capitalization of $4.81 billion, a P/E ratio of 10.39 and a beta of 1.52.

Lazard (NYSE:LAZ) last posted its quarterly earnings data on Friday, October 29th. The asset manager reported $0.98 EPS for the quarter, topping the consensus estimate of $0.95 by $0.03. Lazard had a return on equity of 58.36% and a net margin of 16.07%. The firm had revenue of $702.00 million for the quarter, compared to the consensus estimate of $711.97 million. During the same quarter last year, the company earned $0.67 earnings per share. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, analysts predict that Lazard Ltd will post 4.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Monday, November 8th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Friday, November 5th. Lazard’s dividend payout ratio (DPR) is currently 42.63%.

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.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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