Soros Fund Management LLC Buys 38,000 Shares of Lazard, Inc. (NYSE:LAZ)

Soros Fund Management LLC lifted its holdings in Lazard, Inc. (NYSE:LAZ - Free Report) by 48.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,700 shares of the asset manager's stock after buying an additional 38,000 shares during the period. Soros Fund Management LLC owned about 0.10% of Lazard worth $5,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new stake in Lazard in the 4th quarter worth approximately $31,000. Hopwood Financial Services Inc. purchased a new position in Lazard in the fourth quarter valued at about $41,000. Berbice Capital Management LLC acquired a new position in Lazard in the 4th quarter worth about $46,000. NewEdge Advisors LLC raised its stake in shares of Lazard by 54.3% during the 4th quarter. NewEdge Advisors LLC now owns 977 shares of the asset manager's stock worth $50,000 after purchasing an additional 344 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of Lazard during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 54.80% of the company's stock.

Lazard Stock Performance

LAZ traded up $1.87 during trading on Friday, hitting $41.29. The stock had a trading volume of 1,013,722 shares, compared to its average volume of 954,720. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 2.72. Lazard, Inc. has a 12 month low of $31.97 and a 12 month high of $61.14. The company has a 50 day simple moving average of $41.94 and a 200-day simple moving average of $49.40. The firm has a market cap of $4.66 billion, a PE ratio of 15.52 and a beta of 1.27.

Lazard (NYSE:LAZ - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The asset manager reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. The business had revenue of $669.16 million during the quarter, compared to analysts' expectations of $698.39 million. Lazard had a return on equity of 44.58% and a net margin of 8.98%. The firm's revenue was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. Analysts expect that Lazard, Inc. will post 4.24 EPS for the current year.

Lazard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Monday, May 5th will be paid a $0.50 dividend. The ex-dividend date is Monday, May 5th. This represents a $2.00 annualized dividend and a dividend yield of 4.84%. Lazard's payout ratio is 69.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com downgraded Lazard from a "buy" rating to a "hold" rating in a report on Thursday, April 10th. Wolfe Research downgraded shares of Lazard from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. The Goldman Sachs Group reduced their price objective on shares of Lazard from $51.00 to $44.00 and set a "sell" rating for the company in a research note on Wednesday, January 15th. UBS Group increased their target price on shares of Lazard from $50.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods upped their price target on Lazard from $52.00 to $57.00 and gave the stock a "market perform" rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $46.83.

Insider Transactions at Lazard

In other news, CEO Evan L. Russo sold 25,000 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $55.32, for a total transaction of $1,383,000.00. Following the completion of the transaction, the chief executive officer now directly owns 163,448 shares of the company's stock, valued at approximately $9,041,943.36. This trade represents a 13.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Peter Richard Orszag sold 64,539 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.56, for a total transaction of $2,940,396.84. Following the completion of the sale, the chief executive officer now directly owns 170,285 shares in the company, valued at approximately $7,758,184.60. The trade was a 27.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,078 shares of company stock worth $9,120,541. 3.86% of the stock is currently owned by company insiders.

Lazard Profile

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.