Murphy Pohlad Asset Management LLC Sells 8,750 Shares of Lazard Ltd (LAZ)

Murphy Pohlad Asset Management LLC lessened its stake in shares of Lazard Ltd (NYSE:LAZ) by 40.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 12,940 shares of the asset manager’s stock after selling 8,750 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Lazard were worth $467,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in LAZ. Greystone Managed Investments Inc. boosted its stake in Lazard by 37.0% during the fourth quarter. Greystone Managed Investments Inc. now owns 80,126 shares of the asset manager’s stock valued at $2,957,000 after buying an additional 21,635 shares during the last quarter. High Pointe Capital Management LLC bought a new position in Lazard during the fourth quarter valued at approximately $648,000. Oakbrook Investments LLC bought a new position in Lazard during the first quarter valued at approximately $217,000. Telemus Capital LLC boosted its stake in Lazard by 3.1% during the fourth quarter. Telemus Capital LLC now owns 39,670 shares of the asset manager’s stock valued at $1,464,000 after buying an additional 1,175 shares during the last quarter. Finally, River Road Asset Management LLC bought a new position in Lazard during the fourth quarter valued at approximately $37,150,000. 68.27% of the stock is owned by institutional investors and hedge funds.

LAZ stock traded down $0.66 during midday trading on Friday, reaching $34.68. 445,311 shares of the company traded hands, compared to its average volume of 914,233. Lazard Ltd has a 52-week low of $33.54 and a 52-week high of $56.30. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market cap of $4.59 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 3.49 and a beta of 1.60.

Lazard (NYSE:LAZ) last issued its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.29. Lazard had a return on equity of 48.17% and a net margin of 16.72%. The business had revenue of $620.00 million for the quarter, compared to the consensus estimate of $598.66 million. During the same period in the prior year, the business posted $1.26 earnings per share. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. Equities research analysts expect that Lazard Ltd will post 3.71 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a dividend of $0.47 per share. The ex-dividend date was Friday, May 3rd. This is an increase from Lazard’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 5.42%. Lazard’s dividend payout ratio is 45.19%.

LAZ has been the topic of a number of recent research reports. ValuEngine downgraded Lazard from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 5th. Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. TheStreet upgraded Lazard from a “c” rating to a “b-” rating in a research report on Wednesday, February 6th. Finally, Bank of America downgraded Lazard from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Lazard has an average rating of “Hold” and a consensus price target of $47.20.

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About Lazard

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.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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