Marshall Wace LLP Buys New Holdings in Lazard Ltd (LAZ)

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Marshall Wace LLP bought a new position in shares of Lazard Ltd (NYSE:LAZ) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 136,177 shares of the asset manager’s stock, valued at approximately $6,660,000.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Lazard by 1.5% in the 2nd quarter. BlackRock Inc. now owns 4,788,988 shares of the asset manager’s stock valued at $234,229,000 after acquiring an additional 71,463 shares in the last quarter. LSV Asset Management lifted its position in shares of Lazard by 4.7% in the 2nd quarter. LSV Asset Management now owns 4,073,240 shares of the asset manager’s stock valued at $199,222,000 after acquiring an additional 182,346 shares in the last quarter. FMR LLC lifted its position in shares of Lazard by 1.5% in the 2nd quarter. FMR LLC now owns 3,049,877 shares of the asset manager’s stock valued at $149,169,000 after acquiring an additional 44,224 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Lazard by 11.3% in the 2nd quarter. Jennison Associates LLC now owns 2,027,504 shares of the asset manager’s stock valued at $99,165,000 after acquiring an additional 205,032 shares in the last quarter. Finally, Pendal Group Ltd purchased a new stake in shares of Lazard in the 2nd quarter valued at approximately $90,233,000. Hedge funds and other institutional investors own 71.91% of the company’s stock.

LAZ stock opened at $48.09 on Friday. Lazard Ltd has a 12-month low of $41.44 and a 12-month high of $60.00. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.99 and a beta of 1.79.

Lazard (NYSE:LAZ) last released its earnings results on Thursday, July 26th. The asset manager reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.18. Lazard had a net margin of 11.58% and a return on equity of 47.49%. The company had revenue of $741.00 million during the quarter, compared to the consensus estimate of $663.44 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. research analysts expect that Lazard Ltd will post 4.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 6th were given a $0.44 dividend. The ex-dividend date was Friday, August 3rd. This represents a $1.76 dividend on an annualized basis and a yield of 3.66%. Lazard’s payout ratio is 46.56%.

Several brokerages recently commented on LAZ. Zacks Investment Research upgraded shares of Lazard from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, July 31st. TheStreet downgraded shares of Lazard from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Finally, ValuEngine downgraded shares of Lazard from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $60.25.

Lazard Profile

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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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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