Susquehanna Fundamental Investments LLC Invests $6.41 Million in Lazard, Inc. $LAZ

Key Points

• Susquehanna Fundamental Investments initiated a Lazard position worth approximately $6.41 million, acquiring 152,836 shares and representing about 0.14% of the company. Institutional investors collectively own 54.8% of Lazard.
• Lazard’s CEO Peter Orszag sold 125,000 shares for $5.44 million under a pre-arranged Rule 10b5-1 plan, reducing his stake by 32.39%.
• Analysts hold a mixed view, with Lazard carrying a consensus “Hold” rating and a $50.38 target price. The company reported quarterly EPS of $0.12, below the $0.34 estimate, while revenue of $786.47 million exceeded expectations; its annualized dividend yield is 4.6%.

Susquehanna Fundamental Investments LLC bought a new position in Lazard, Inc. (NYSE:LAZ - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 152,836 shares of the asset manager's stock, valued at approximately $6,410,000. Susquehanna Fundamental Investments LLC owned approximately 0.14% of Lazard at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in Lazard in the fourth quarter valued at $26,000. IFP Advisors Inc increased its holdings in 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 buying an additional 224 shares in the last quarter. State of Wyoming purchased a new stake in Lazard during the 2nd quarter valued at $38,000. Compass Financial Management LLC bought a new position in shares of Lazard in the 2nd quarter worth approximately $41,000. Finally, Allworth Financial LP purchased a new position in shares of Lazard during the 2nd quarter valued at about $42,000. 54.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LAZ shares. Citigroup reissued a "market outperform" rating on shares of Lazard in a research report on Friday, July 24th. Morgan Stanley set a $44.00 price objective on shares of Lazard in a research report on Friday, July 24th. Weiss Ratings cut Lazard from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, July 29th. UBS Group reiterated a "neutral" rating and issued a $44.00 price target on shares of Lazard in a report on Tuesday, June 9th. Finally, Zacks Research cut shares of Lazard from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Lazard has a consensus rating of "Hold" and a consensus target price of $50.38.

Lazard Price Performance

Shares of LAZ opened at $43.24 on Tuesday. Lazard, Inc. has a fifty-two week low of $38.67 and a fifty-two week high of $58.75. The firm's 50 day moving average price is $42.85 and its 200 day moving average price is $44.97. The company has a market cap of $4.78 billion, a P/E ratio of 21.20, a PEG ratio of 0.92 and a beta of 1.43. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 1.87.

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

Lazard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $0.50 dividend. The ex-dividend date was Monday, August 3rd. This represents a $2.00 annualized dividend and a yield of 4.6%. Lazard's dividend payout ratio is presently 98.04%.

About Lazard

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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