Capula Management Ltd Takes $2.34 Million Position in Lazard, Inc. $LAZ

Capula Management Ltd acquired a new position in shares of Lazard, Inc. (NYSE:LAZ) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,093 shares of the asset manager’s stock, valued at approximately $2,340,000.

Other large investors also recently modified their holdings of the company. Sei Investments Co. raised its stake in Lazard by 190.6% during the first quarter. Sei Investments Co. now owns 192,394 shares of the asset manager’s stock worth $8,172,000 after buying an additional 126,177 shares during the last quarter. Aureus Asset Management LLC bought a new stake in Lazard during the first quarter valued at $1,309,000. Van Berkom & Associates Inc. boosted its position in Lazard by 7.5% during the first quarter. Van Berkom & Associates Inc. now owns 64,831 shares of the asset manager’s stock valued at $2,754,000 after acquiring an additional 4,514 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Lazard by 10.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,900,615 shares of the asset manager’s stock worth $80,713,000 after acquiring an additional 174,199 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Lazard by 25.9% during the 1st quarter. Parallel Advisors LLC now owns 2,317 shares of the asset manager’s stock worth $98,000 after acquiring an additional 477 shares during the period. 54.80% of the stock is currently owned by institutional investors and hedge funds.

Lazard News Roundup

Here are the key news stories impacting Lazard this week:

• Negative Sentiment: Lazard reported Q2 adjusted EPS of $0.12, well below Wall Street expectations, and Reuters said net profit plunged 91% year over year as a higher tax rate and softer financial advisory revenue weighed on results. Reuters article
• Negative Sentiment: The company’s financial advisory segment came under pressure, reinforcing concerns that deal-making activity remains uneven and limiting near-term earnings momentum. Seeking Alpha article
• Negative Sentiment: Multiple reports highlighted that Lazard is cutting more than 80 managing director roles and revamping its advisory business, suggesting management is still working through a major restructuring effort rather than showing a clean growth story. Zawya article
• Neutral Sentiment: At the same time, Lazard reiterated its long-term growth targets, including a plan for Lazard CL to reach $500 million of revenue by 2027 and $10 million per managing director by 2028, which may support longer-term investor confidence but does not offset the weak quarter immediately. Seeking Alpha article
• Neutral Sentiment: Lazard also declared a quarterly dividend of $0.50 per share, yielding about 4.6%, which may help income-focused shareholders but is not enough to outweigh the earnings disappointment. PR Newswire article

Lazard Price Performance

Shares of NYSE LAZ opened at $43.01 on Friday. The firm has a market capitalization of $4.80 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.64 and a beta of 1.43. The firm’s 50-day moving average price is $44.26 and its 200-day moving average price is $46.80. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.94. Lazard, Inc. has a 1-year low of $38.67 and a 1-year high of $58.75.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, July 23rd. The asset manager reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.22). Lazard had a net margin of 8.47% and a return on equity of 29.30%. The firm had revenue of $786.02 million during the quarter, compared to the consensus estimate of $736.29 million. During the same period in the previous year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts anticipate that Lazard, Inc. will post 2.63 earnings per share for the current fiscal year.

Lazard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, August 3rd. This represents a $2.00 annualized dividend and a dividend yield of 4.6%. Lazard’s payout ratio is currently 79.05%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reissued a “sell” rating on shares of Lazard in a research note on Thursday. Morgan Stanley decreased their target price on Lazard from $53.00 to $47.00 and set an “underweight” rating for the company in a research note on Thursday, July 9th. Citizens Jmp lowered their target price on Lazard from $65.00 to $60.00 and set a “market outperform” rating for the company in a report on Friday, April 10th. Zacks Research raised Lazard from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Argus cut their price target on Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Lazard currently has a consensus rating of “Hold” and a consensus price target of $51.00.

Lazard Company Profile

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.