Gilman Hill Asset Management LLC Has $504,000 Stock Position in Lazard, Inc. (NYSE:LAZ)

Gilman Hill Asset Management LLC lifted its holdings in Lazard, Inc. (NYSE:LAZ) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 9,790 shares of the asset manager’s stock after buying an additional 240 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Lazard were worth $504,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LAZ. My Legacy Advisors LLC boosted its position in Lazard by 29.4% during the fourth quarter. My Legacy Advisors LLC now owns 5,527 shares of the asset manager’s stock worth $275,000 after purchasing an additional 1,255 shares during the period. O Keefe Stevens Advisory Inc. boosted its holdings in shares of Lazard by 1.1% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 211,046 shares of the asset manager’s stock worth $10,865,000 after buying an additional 2,386 shares during the period. Empirical Asset Management LLC acquired a new position in Lazard in the 4th quarter valued at $3,813,000. Park Avenue Securities LLC grew its stake in Lazard by 12.2% in the 4th quarter. Park Avenue Securities LLC now owns 6,672 shares of the asset manager’s stock valued at $343,000 after buying an additional 728 shares during the last quarter. Finally, Oliver Luxxe Assets LLC lifted its position in Lazard by 4.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 45,549 shares of the asset manager’s stock worth $2,345,000 after acquiring an additional 1,838 shares during the last quarter. Institutional investors and hedge funds own 54.80% of the company’s stock.

Lazard Stock Up 2.8 %

LAZ opened at $51.06 on Tuesday. The company has a market capitalization of $5.76 billion, a P/E ratio of 20.34 and a beta of 1.40. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.24 and a quick ratio of 2.24. The firm’s fifty day moving average price is $53.20 and its two-hundred day moving average price is $50.21. Lazard, Inc. has a fifty-two week low of $35.56 and a fifty-two week high of $61.14.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, October 31st. The asset manager reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). Lazard had a net margin of 8.28% and a return on equity of 42.20%. The business had revenue of $646.00 million for the quarter, compared to analyst estimates of $644.22 million. During the same quarter last year, the firm posted $0.10 earnings per share. Lazard’s revenue was up 21.4% on a year-over-year basis. On average, analysts anticipate that Lazard, Inc. will post 2.13 EPS for the current year.

Lazard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.50 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.00 annualized dividend and a dividend yield of 3.92%. Lazard’s dividend payout ratio is currently 79.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LAZ shares. UBS Group raised their price target on Lazard from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods dropped their price target on Lazard from $57.00 to $52.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Wolfe Research cut Lazard from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. StockNews.com lowered shares of Lazard from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company cut their target price on shares of Lazard from $59.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.50.

Lazard Company 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.