Osborne Partners Capital Management LLC Buys 10,829 Shares of Lazard Ltd (NYSE:LAZ)

Osborne Partners Capital Management LLC grew its holdings in Lazard Ltd (NYSE:LAZGet Rating) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 139,166 shares of the asset manager’s stock after purchasing an additional 10,829 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Lazard were worth $4,801,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc grew its position in Lazard by 5.9% during the fourth quarter. CIBC Asset Management Inc now owns 4,916 shares of the asset manager’s stock worth $214,000 after buying an additional 274 shares in the last quarter. Lesa Sroufe & Co boosted its holdings in Lazard by 0.5% during the first quarter. Lesa Sroufe & Co now owns 55,773 shares of the asset manager’s stock valued at $2,434,000 after purchasing an additional 290 shares in the last quarter. Roosevelt Investment Group LLC boosted its holdings in Lazard by 1.3% during the fourth quarter. Roosevelt Investment Group LLC now owns 29,291 shares of the asset manager’s stock valued at $1,278,000 after purchasing an additional 364 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Lazard by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 15,472 shares of the asset manager’s stock valued at $533,000 after purchasing an additional 380 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in Lazard by 1.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 28,321 shares of the asset manager’s stock valued at $1,235,000 after purchasing an additional 396 shares in the last quarter.

Lazard Price Performance

Shares of LAZ stock opened at $34.61 on Thursday. Lazard Ltd has a 12-month low of $30.72 and a 12-month high of $53.00. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 7.02 and a beta of 1.40. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.74. The firm has a fifty day moving average of $33.70 and a 200-day moving average of $35.57.

Lazard (NYSE:LAZGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.18. Lazard had a net margin of 16.76% and a return on equity of 59.55%. The company had revenue of $716.14 million during the quarter, compared to analyst estimates of $677.58 million. During the same quarter in the previous year, the business earned $0.87 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Lazard Ltd will post 4.15 earnings per share for the current year.

Insider Activity

In related news, President Alexander F. Stern sold 70,000 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $35.29, for a total value of $2,470,300.00. Following the completion of the transaction, the president now directly owns 209,258 shares of the company’s stock, valued at approximately $7,384,714.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.86% of the stock is owned by company insiders.

Analyst Ratings Changes

LAZ has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Lazard from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Wolfe Research cut shares of Lazard from a “peer perform” rating to an “underperform” rating and set a $39.00 price objective for the company. in a research report on Thursday, April 7th. StockNews.com cut shares of Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. JMP Securities dropped their price objective on shares of Lazard from $58.00 to $56.00 and set a “market outperform” rating for the company in a research report on Thursday, April 7th. Finally, Morgan Stanley cut shares of Lazard from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $40.00 to $30.00 in a research report on Monday, July 18th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lazard presently has an average rating of “Hold” and a consensus target price of $40.33.

About Lazard

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Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters.

See Also

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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