Squarepoint Ops LLC Has $23.25 Million Stock Holdings in Lazard, Inc. $LAZ

Key Points

• Squarepoint Ops LLC increased its Lazard stake by 59.2% in the second quarter, owning 554,285 shares valued at approximately $23.25 million. Institutional investors and hedge funds collectively hold 54.8% of Lazard’s stock.
• Lazard’s CEO Peter Orszag sold 125,000 shares worth $5.44 million under a pre-arranged Rule 10b5-1 trading plan, reducing his position by 32.39%.
• Analyst sentiment remains mixed, with Lazard receiving a consensus “Hold” rating and a $50.38 target price. The company recently reported weaker-than-expected quarterly EPS, while revenue exceeded estimates, and its $2.00 annualized dividend yields about 4.5%.

Squarepoint Ops LLC boosted its stake in Lazard, Inc. (NYSE:LAZ - Free Report) by 59.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 554,285 shares of the asset manager's stock after purchasing an additional 206,051 shares during the period. Squarepoint Ops LLC owned about 0.50% of Lazard worth $23,247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LAZ. Kestra Advisory Services LLC bought a new stake in shares of Lazard during the fourth quarter worth $26,000. IFP Advisors Inc grew its position in 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 acquiring an additional 224 shares during the last quarter. State of Wyoming bought a new stake in Lazard during the 2nd quarter worth $38,000. Compass Financial Management LLC acquired a new position in Lazard in the 2nd quarter worth about $41,000. Finally, Allworth Financial LP acquired a new position in Lazard in the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 54.80% of the company's stock.

Insider Activity

In other news, CEO Peter Orszag sold 125,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $43.52, for a total value of $5,440,000.00. Following the transaction, the chief executive officer owned 260,942 shares in the company, valued at approximately $11,356,195.84. The trade was a 32.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.95% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LAZ shares. Zacks Research lowered Lazard from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 4th. UBS Group reaffirmed a "neutral" rating and issued a $44.00 price objective on shares of Lazard in a research note on Tuesday, June 9th. Citigroup reiterated a "market outperform" rating on shares of Lazard in a report on Friday, July 24th. Morgan Stanley set a $44.00 target price on shares of Lazard in a report on Friday, July 24th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Lazard from $44.00 to $42.00 and set a "market perform" rating for the company in a research report on Friday, July 24th. Four investment 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. Based on data from MarketBeat, Lazard has a consensus rating of "Hold" and a consensus target price of $50.38.

Lazard Trading Down 2.3%

NYSE LAZ opened at $43.98 on Wednesday. The firm has a market capitalization of $4.86 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. The business's 50-day moving average price is $43.20 and its two-hundred day moving average price is $44.61. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 1.87. Lazard, Inc. has a 12 month low of $38.67 and a 12 month high of $58.75.

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

Lazard Announces Dividend

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

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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