Two Sigma Advisers LP Sells 59,262 Shares of Lazard Ltd (NYSE:LAZ)

Two Sigma Advisers LP decreased its position in shares of Lazard Ltd (NYSE:LAZ) by 9.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 590,101 shares of the asset manager’s stock after selling 59,262 shares during the quarter. Two Sigma Advisers LP owned approximately 0.45% of Lazard worth $21,781,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Evanson Asset Management LLC increased its holdings in Lazard by 1.2% during the 4th quarter. Evanson Asset Management LLC now owns 24,786 shares of the asset manager’s stock worth $915,000 after purchasing an additional 282 shares in the last quarter. Abbot Financial Management Inc. boosted its stake in shares of Lazard by 1.3% during the 4th quarter. Abbot Financial Management Inc. now owns 24,025 shares of the asset manager’s stock worth $887,000 after buying an additional 300 shares during the last quarter. Chiron Investment Management LLC boosted its stake in shares of Lazard by 7.5% during the 4th quarter. Chiron Investment Management LLC now owns 4,303 shares of the asset manager’s stock worth $159,000 after buying an additional 300 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Lazard by 5.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,136 shares of the asset manager’s stock valued at $300,000 after purchasing an additional 392 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Lazard by 2.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,972 shares of the asset manager’s stock valued at $626,000 after purchasing an additional 413 shares during the last quarter. 68.71% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:LAZ traded down $0.52 during mid-day trading on Monday, reaching $38.12. The stock had a trading volume of 857,706 shares, compared to its average volume of 1,032,653. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 2.51 and a beta of 1.59. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.71 and a quick ratio of 1.71. Lazard Ltd has a 12 month low of $33.54 and a 12 month high of $56.30.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Tuesday, February 5th. The asset manager reported $0.94 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.94. Lazard had a net margin of 18.27% and a return on equity of 50.62%. The business had revenue of $685.00 million for the quarter, compared to analysts’ expectations of $673.35 million. During the same period last year, the firm posted $1.12 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts anticipate that Lazard Ltd will post 3.57 EPS for the current fiscal year.

LAZ has been the subject of several research reports. TheStreet upgraded shares of Lazard from a “c” rating to a “b-” rating in a research report on Wednesday, February 6th. ValuEngine downgraded shares of Lazard from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 5th. Bank of America downgraded shares of Lazard from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Thursday. Keefe, Bruyette & Woods restated a “mkt perform” rating and set a $41.00 price objective on shares of Lazard in a research report on Friday, January 4th. Finally, Zacks Investment Research upgraded shares of Lazard from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.33.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The original version of this piece of content can be accessed at https://www.baseballdailydigest.com/news/2019/04/15/two-sigma-advisers-lp-sells-59262-shares-of-lazard-ltd-laz.html.

Lazard Company Profile

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.

Recommended Story: Stock Selection – What is cash flow?

Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.