270,470 Shares in Lazard, Inc. $LAZ Purchased by Ranger Investment Management L.P.

Key Points

• Ranger Investment Management purchased 270,470 Lazard shares worth approximately $11.3 million, giving it a 0.24% stake. Institutional investors and hedge funds collectively own 54.8% of the company.
• Lazard’s latest quarter included $786.5 million in revenue, exceeding estimates, but earnings per share of $0.12 missed consensus by $0.22. Analysts expect $2.18 in EPS for the current fiscal year.
• Lazard maintains a quarterly dividend of $0.50 per share, equivalent to an annualized $2.00 payout and a 4.5% yield. Analysts’ overall rating is Hold, with an average price target of $50.38.

Ranger Investment Management L.P. purchased a new stake in shares of Lazard, Inc. (NYSE:LAZ - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 270,470 shares of the asset manager's stock, valued at approximately $11,344,000. Ranger Investment Management L.P. owned 0.24% of Lazard as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Teza Capital Management LLC grew its holdings in shares of Lazard by 2.4% during the 2nd 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 in the last quarter. IFP Advisors Inc increased its position in shares of Lazard by 53.5% during the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager's stock valued at $34,000 after purchasing an additional 224 shares during the period. Xponance LLC raised its stake in shares of Lazard by 3.7% in the fourth quarter. Xponance LLC now owns 6,454 shares of the asset manager's stock valued at $313,000 after purchasing an additional 232 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Lazard by 2.7% in the first quarter. Bleakley Financial Group LLC now owns 11,111 shares of the asset manager's stock valued at $472,000 after purchasing an additional 289 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in Lazard by 18.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,294 shares of the asset manager's stock worth $111,000 after purchasing an additional 353 shares during the period. Institutional investors and hedge funds own 54.80% of the company's stock.

Lazard Price Performance

Lazard stock opened at $44.14 on Monday. The business has a 50 day simple moving average of $42.91 and a 200 day simple moving average of $45.48. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.84 and a quick ratio of 2.84. The company has a market capitalization of $4.88 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 0.93 and a beta of 1.43. Lazard, Inc. has a one year low of $38.67 and a one year high of $58.75.

Lazard (NYSE:LAZ - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The asset manager reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.22). The company had revenue of $786.47 million during the quarter, compared to the consensus estimate of $736.29 million. Lazard had a net margin of 6.95% and a return on equity of 23.58%. The business's revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, sell-side analysts forecast that Lazard, Inc. will post 2.18 EPS for the current fiscal year.

Lazard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a dividend of $0.50 per share. The ex-dividend date was Monday, August 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. Lazard's dividend payout ratio (DPR) is 98.04%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group reiterated a "neutral" rating and set a $44.00 price target on shares of Lazard in a research note on Tuesday, June 9th. Citigroup restated a "market outperform" rating on shares of Lazard in a research note on Friday, July 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Lazard from $44.00 to $42.00 and set a "market perform" rating for the company in a report on Friday, July 24th. Weiss Ratings lowered shares of Lazard from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, July 29th. Finally, Argus lowered their target price on shares of Lazard from $63.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Lazard presently has an average rating of "Hold" and an average price target of $50.38.

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.

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