SG Americas Securities LLC Buys 134,088 Shares of Lazard Ltd (LAZ)

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SG Americas Securities LLC increased its stake in Lazard Ltd (NYSE:LAZ) by 5,033.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,752 shares of the asset manager’s stock after acquiring an additional 134,088 shares during the period. SG Americas Securities LLC owned approximately 0.11% of Lazard worth $6,582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LAZ. Thornburg Investment Management Inc. purchased a new position in Lazard in the third quarter worth about $56,733,000. Acadian Asset Management LLC purchased a new position in Lazard in the second quarter worth about $26,820,000. Bank of Montreal Can purchased a new position in Lazard in the second quarter worth about $21,124,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in Lazard in the second quarter worth about $19,564,000. Finally, Cornerstone Wealth Management LLC grew its position in Lazard by 4,810.0% in the second quarter. Cornerstone Wealth Management LLC now owns 223,405 shares of the asset manager’s stock worth $4,550,000 after acquiring an additional 218,855 shares in the last quarter. Institutional investors own 70.67% of the company’s stock.

Shares of NYSE LAZ opened at $38.13 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 1.08 and a beta of 1.86. Lazard Ltd has a 1 year low of $36.51 and a 1 year high of $60.00.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, October 25th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.07). The firm had revenue of $605.61 million during the quarter. Lazard had a return on equity of 49.98% and a net margin of 11.49%. On average, sell-side analysts predict that Lazard Ltd will post 4.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Friday, November 2nd. Lazard’s payout ratio is currently 46.56%.

Several research analysts recently commented on the company. ValuEngine lowered Lazard from a “sell” rating to a “strong sell” rating in a research report on Thursday. Goldman Sachs Group assumed coverage on shares of Lazard in a research note on Tuesday, November 6th. They issued a “neutral” rating and a $46.00 price objective for the company. Buckingham Research decreased their price objective on shares of Lazard from $64.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, October 26th. Zacks Investment Research downgraded shares of Lazard from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Finally, Wolfe Research assumed coverage on shares of Lazard in a research note on Tuesday, September 25th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Lazard currently has an average rating of “Hold” and a consensus price target of $57.75.

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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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