Cullen Frost Bankers Inc. decreased its position in shares of Lazard Ltd (NYSE:LAZ) by 1.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 273,416 shares of the company’s stock after selling 3,193 shares during the period. Cullen Frost Bankers Inc. owned 0.22% of Lazard worth $8,142,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp boosted its position in shares of Lazard by 73.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 73,200 shares of the company’s stock worth $2,840,000 after buying an additional 31,000 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Lazard by 3.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,200 shares of the company’s stock worth $124,000 after buying an additional 100 shares during the period. Royce & Associates LP boosted its position in shares of Lazard by 127.4% in the first quarter. Royce & Associates LP now owns 1,510,207 shares of the company’s stock worth $58,596,000 after buying an additional 846,046 shares during the period. NN Investment Partners Holdings N.V. bought a new position in shares of Lazard during the first quarter worth about $1,098,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Lazard by 9.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 87,904 shares of the company’s stock worth $3,411,000 after buying an additional 7,396 shares during the period.
Lazard Ltd (NYSE:LAZ) traded up 0.19% during mid-day trading on Friday, reaching $36.64. The company’s stock had a trading volume of 639,034 shares. The stock has a market cap of $4.55 billion, a P/E ratio of 6.93 and a beta of 2.20. Lazard Ltd has a one year low of $26.21 and a one year high of $49.57. The firm’s 50 day moving average is $36.39 and its 200-day moving average is $35.22.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $542.30 million for the quarter, compared to analysts’ expectations of $542.68 million. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. Equities analysts expect that Lazard Ltd will post $2.93 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. Credit Suisse Group AG reaffirmed a “buy” rating and set a $42.00 price objective on shares of Lazard in a research note on Tuesday, September 6th. Zacks Investment Research raised Lazard from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. TheStreet raised Lazard to a “buy” rating in a research note on Thursday, August 18th. Finally, Nomura raised their target price on Lazard from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $50.50.
In other Lazard news, Director Jane L. Mendillo bought 1,400 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were purchased at an average cost of $35.22 per share, for a total transaction of $49,308.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Scott D. Hoffman sold 42,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $34.92, for a total transaction of $1,466,640.00. The disclosure for this sale can be found here.
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters.
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