10,364 Shares in Lazard Ltd (NYSE:LAZ) Acquired by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC acquired a new position in shares of Lazard Ltd (NYSE:LAZGet Rating) during the second quarter, HoldingsChannel reports. The institutional investor acquired 10,364 shares of the asset manager’s stock, valued at approximately $336,000.

Several other institutional investors have also modified their holdings of the stock. Parallel Advisors LLC acquired a new stake in Lazard during the 2nd quarter worth $26,000. PNC Financial Services Group Inc. lifted its stake in Lazard by 64.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,839 shares of the asset manager’s stock valued at $63,000 after buying an additional 720 shares during the last quarter. First Manhattan Co. boosted its holdings in shares of Lazard by 267.5% in the first quarter. First Manhattan Co. now owns 2,205 shares of the asset manager’s stock valued at $75,000 after acquiring an additional 1,605 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Lazard in the 1st quarter valued at $135,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Lazard by 99.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,141 shares of the asset manager’s stock valued at $142,000 after purchasing an additional 2,063 shares during the last quarter.

Analysts Set New Price Targets

LAZ has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Lazard from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, October 31st. StockNews.com raised Lazard from a “hold” rating to a “buy” rating in a report on Monday, October 31st. Finally, The Goldman Sachs Group raised their price target on Lazard from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, August 4th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.57.

Lazard Trading Up 0.5 %

LAZ stock opened at $36.94 on Thursday. Lazard Ltd has a 52 week low of $30.20 and a 52 week high of $46.74. The company has a debt-to-equity ratio of 2.49, a quick ratio of 1.82 and a current ratio of 1.82. The company’s 50-day simple moving average is $35.00 and its 200 day simple moving average is $35.05. The company has a market capitalization of $4.17 billion, a PE ratio of 7.55 and a beta of 1.43.

Lazard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Friday, November 4th. Lazard’s dividend payout ratio (DPR) is presently 40.90%.

About Lazard

(Get Rating)

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters.

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Institutional Ownership by Quarter for Lazard (NYSE:LAZ)

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