Elkfork Partners LLC Has $5.20 Million Holdings in Lazard (LAZ)

Elkfork Partners LLC cut its holdings in shares of Lazard (NYSE:LAZ) by 18.7% during the 4th quarter, Holdings Channel reports. The firm owned 98,960 shares of the asset manager’s stock after selling 22,832 shares during the quarter. Elkfork Partners LLC’s holdings in Lazard were worth $5,195,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Denali Advisors LLC purchased a new stake in Lazard during the 4th quarter worth approximately $105,000. Advisory Services Network LLC increased its holdings in Lazard by 83.2% during the 4th quarter. Advisory Services Network LLC now owns 2,151 shares of the asset manager’s stock worth $113,000 after purchasing an additional 977 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC purchased a new stake in Lazard during the 4th quarter worth approximately $125,000. First Dallas Securities Inc. purchased a new stake in Lazard during the 4th quarter worth approximately $127,000. Finally, American International Group Inc. bought a new stake in shares of Lazard in the 4th quarter valued at approximately $144,000. Institutional investors own 71.74% of the company’s stock.

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In related news, COO Alexander F. Stern sold 65,160 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $53.12, for a total transaction of $3,461,299.20. Following the completion of the transaction, the chief operating officer now owns 276,886 shares in the company, valued at approximately $14,708,184.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Alexander F. Stern sold 15,160 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $53.47, for a total value of $810,605.20. Following the transaction, the chief operating officer now owns 276,886 shares of the company’s stock, valued at approximately $14,805,094.42. The disclosure for this sale can be found here. Insiders have sold a total of 95,320 shares of company stock valued at $5,053,854 in the last 90 days. Insiders own 2.50% of the company’s stock.

LAZ has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Lazard from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. ValuEngine downgraded Lazard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. TheStreet downgraded Lazard from an “a-” rating to a “c+” rating in a report on Friday, February 2nd. Buckingham Research downgraded Lazard from a “buy” rating to a “neutral” rating and set a $54.00 price target for the company. in a report on Thursday, December 21st. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $64.00 price target on shares of Lazard in a report on Thursday, January 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Lazard has a consensus rating of “Buy” and a consensus target price of $62.25.

Lazard stock opened at $50.77 on Friday. Lazard has a 12-month low of $40.50 and a 12-month high of $60.00. The stock has a market capitalization of $6,751.73, a P/E ratio of 27.59, a P/E/G ratio of 1.23 and a beta of 1.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.91 and a current ratio of 1.91.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.20. Lazard had a return on equity of 38.93% and a net margin of 9.40%. The business had revenue of $683.00 million during the quarter, compared to analyst estimates of $658.86 million. During the same quarter in the previous year, the firm posted $1.13 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. equities analysts forecast that Lazard will post 3.99 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Monday, February 12th were given a dividend of $0.116 per share. The ex-dividend date was Friday, February 9th. This represents a $0.46 dividend on an annualized basis and a yield of 0.91%. Lazard’s dividend payout ratio is currently 89.13%.

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About Lazard

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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