Lazard, Inc. (NYSE:LAZ) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Lazard, Inc. (NYSE:LAZ) by 4.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,888 shares of the asset manager’s stock after selling 8,643 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Lazard worth $8,609,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its position in Lazard by 1,125.0% in the second quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 675 shares during the period. Continuum Advisory LLC raised its position in Lazard by 58.9% in the second quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 330 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of Lazard in the 3rd quarter valued at $50,000. Redwood Wealth Management Group LLC acquired a new position in Lazard during the 2nd quarter worth about $87,000. Finally, LWM Advisory Services LLC acquired a new position in Lazard during the 2nd quarter worth about $88,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Lazard Price Performance

LAZ stock opened at $54.66 on Tuesday. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a market capitalization of $6.16 billion, a P/E ratio of 21.78 and a beta of 1.38. The business’s 50-day moving average is $54.03 and its two-hundred day moving average is $47.58. Lazard, Inc. has a 1 year low of $31.77 and a 1 year high of $61.14.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, October 31st. The asset manager reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). Lazard had a return on equity of 42.20% and a net margin of 8.28%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $644.22 million. During the same period last year, the business posted $0.10 EPS. Lazard’s revenue was up 21.4% on a year-over-year basis. Analysts anticipate that Lazard, Inc. will post 2.25 earnings per share for the current fiscal year.

Lazard Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, November 8th. Lazard’s dividend payout ratio (DPR) is presently 79.68%.

Analyst Ratings Changes

LAZ has been the topic of several research reports. UBS Group increased their target price on Lazard from $49.00 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Wells Fargo & Company initiated coverage on Lazard in a research note on Thursday, September 12th. They set an “equal weight” rating and a $51.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on Lazard from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JMP Securities increased their target price on Lazard from $55.00 to $59.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com lowered Lazard from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.43.

Lazard Profile

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.