Epoch Investment Partners Inc. Sells 47,404 Shares of Lazard, Inc. $LAZ

Epoch Investment Partners Inc. decreased its holdings in shares of Lazard, Inc. (NYSE:LAZ - Free Report) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,563,208 shares of the asset manager's stock after selling 47,404 shares during the period. Epoch Investment Partners Inc. owned 1.39% of Lazard worth $75,909,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Advisory Services LLC bought a new position in Lazard during the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC raised its position in shares of Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager's stock worth $31,000 after acquiring an additional 220 shares in the last quarter. Quest 10 Wealth Builders Inc. bought a new position in shares of Lazard in the 4th quarter worth approximately $32,000. IFP Advisors Inc raised its position in shares of Lazard by 53.5% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager's stock worth $34,000 after acquiring an additional 224 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of Lazard in the 2nd quarter worth approximately $38,000. Institutional investors own 54.80% of the company's stock.

Insider Buying and Selling

In related news, CEO Peter Richard Orszag sold 69,170 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 210,942 shares of the company's stock, valued at $8,597,995.92. This trade represents a 24.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Hogbin sold 7,885 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $40.37, for a total value of $318,317.45. Following the transaction, the chief executive officer directly owned 15,773 shares of the company's stock, valued at approximately $636,756.01. This trade represents a 33.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 80,999 shares of company stock valued at $3,292,962. 0.95% of the stock is owned by corporate insiders.

Lazard Stock Up 1.7%

LAZ stock opened at $43.67 on Friday. Lazard, Inc. has a twelve month low of $38.67 and a twelve month high of $58.75. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.94. The firm has a market cap of $4.88 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 0.47 and a beta of 1.41. The business has a 50 day moving average of $46.63 and a 200 day moving average of $48.44.

Lazard (NYSE:LAZ - Get Free Report) last posted its quarterly earnings data 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). Lazard had a net margin of 8.47% and a return on equity of 29.30%. The company had revenue of $672.98 million for the quarter, compared to the consensus estimate of $707.42 million. During the same period last year, the business earned $0.56 EPS. The firm's quarterly revenue was up 16.8% on a year-over-year basis. On average, research analysts forecast that Lazard, Inc. will post 2.85 EPS for the current fiscal year.

Lazard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, May 11th. Lazard's dividend payout ratio (DPR) is 79.05%.

Analyst Ratings Changes

LAZ has been the subject of several research reports. The Goldman Sachs Group set a $40.00 target price on Lazard in a research report on Friday. Citigroup reissued an "outperform" rating on shares of Lazard in a research report on Friday, April 10th. Weiss Ratings lowered Lazard from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 22nd. UBS Group reissued a "neutral" rating and issued a $44.00 target price on shares of Lazard in a research report on Tuesday. Finally, Keefe, Bruyette & Woods increased their target price on Lazard from $47.00 to $49.00 and gave the stock a "market perform" rating in a research report on Monday, May 4th. Four investment 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 MarketBeat.com, Lazard has an average rating of "Hold" and a consensus target price of $52.00.

Lazard 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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