Catalyst Funds Management Pty Ltd Invests $1.41 Million in Lazard, Inc. $LAZ

Catalyst Funds Management Pty Ltd bought a new position in shares of Lazard, Inc. (NYSE:LAZ) during the fourth quarter, Holdings Channel.com reports. The fund bought 29,007 shares of the asset manager’s stock, valued at approximately $1,409,000.

Other large investors have also added to or reduced their stakes in the company. Teza Capital Management LLC boosted its position in Lazard by 2.4% during the second quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock worth $387,000 after purchasing an additional 187 shares during the period. Sound Income Strategies LLC raised its position in shares of Lazard by 59.5% in the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares during the period. IFP Advisors Inc lifted its stake in shares of Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after buying an additional 224 shares during the last quarter. Oliver Luxxe Assets LLC lifted its stake in shares of Lazard by 0.5% during the 4th quarter. Oliver Luxxe Assets LLC now owns 47,628 shares of the asset manager’s stock worth $2,313,000 after buying an additional 235 shares during the last quarter. Finally, AMG National Trust Bank boosted its holdings in shares of Lazard by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 44,214 shares of the asset manager’s stock worth $2,334,000 after buying an additional 267 shares during the period. Institutional investors own 54.80% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Christopher Hogbin sold 3,944 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $39.37, for a total value of $155,275.28. Following the transaction, the chief executive officer owned 11,829 shares in the company, valued at approximately $465,707.73. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Richard Orszag sold 69,170 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $40.76, for a total transaction of $2,819,369.20. Following the sale, the chief executive officer directly owned 210,942 shares of the company’s stock, valued at $8,597,995.92. This represents a 24.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 80,999 shares of company stock valued at $3,292,962. Corporate insiders own 0.95% of the company’s stock.

Lazard Stock Performance

NYSE LAZ opened at $48.09 on Friday. Lazard, Inc. has a 12-month low of $38.67 and a 12-month high of $58.75. The firm has a 50-day moving average price of $44.72 and a two-hundred day moving average price of $48.68. The company has a market capitalization of $5.37 billion, a P/E ratio of 19.01, a P/E/G ratio of 0.51 and a beta of 1.44. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.94.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). The business had revenue of $672.98 million during the quarter, compared to analyst estimates of $707.42 million. Lazard had a net margin of 8.47% and a return on equity of 29.30%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Analysts anticipate that Lazard, Inc. will post 2.85 earnings per share for the current year.

Lazard Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Monday, May 11th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.00 annualized dividend and a yield of 4.2%. Lazard’s payout ratio is currently 79.05%.

Wall Street Analyst Weigh In

LAZ has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price target on shares of Lazard from $47.00 to $49.00 and gave the company a “market perform” rating in a report on Monday, May 4th. The Goldman Sachs Group boosted their price objective on Lazard from $40.00 to $45.00 and gave the stock a “sell” rating in a report on Tuesday, April 14th. Zacks Research downgraded Lazard from a “hold” rating to a “strong sell” rating in a research report on Friday, April 10th. Argus lowered their target price on Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Wall Street Zen downgraded Lazard from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Lazard presently has a consensus rating of “Hold” and a consensus target price of $52.56.

About Lazard

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.