SG Americas Securities LLC Increases Stake in Lazard Ltd, Demonstrating Confidence in the Company’s Growth Potential

SG Americas Securities LLC, a prominent investment firm, has significantly increased its stake in Lazard Ltd (NYSE:LAZ) during the second quarter of this year. According to the firm’s recent filing with the Securities and Exchange Commission (SEC), SG Americas Securities LLC now holds 681,057 shares of the leading asset manager’s stock. This marks a substantial growth of 668.6% as compared to their previous filing. The acquisition of an additional 592,448 shares indicates a strong confidence in Lazard’s potential for future growth.

Based on the most recent filing, SG Americas Securities LLC’s ownership of Lazard is estimated to be valued at approximately $21,794,000. It is important to note that this figure only represents 0.60% of Lazard’s overall worth as highlighted in the filing.

Lazard Ltd is renowned for its provision of financial advisory and asset management services globally. The company offers a wide range of solutions to clients including corporations, governments, institutions, and individuals. With offices across North America, Europe, Asia-Pacific, and other regions worldwide, Lazard serves a diversified client base and operates in various sectors such as real estate, energy, technology, healthcare, and more.

In addition to its impressive increase in holdings, Lazard also recently announced a quarterly dividend payment for its shareholders. The dividend was distributed on Friday, August 18th to shareholders who held positions as of Monday, August 7th. Shareholders received a $0.50 dividend per share owned during that period.

Taking into account the dividend paid out by Lazard in August this year allows us to discern its annualized basis payout ratio and yield percentage. At present factors indicate that Lazard boasts an annualized dividend payout ratio (DPR) of -1,111.05%. Moreover the calculation signifies an attractive yield rate for investors at 5.99%.

This latest development reflects positively on Lazard Ltd’s performance and financial stability despite prevailing market uncertainties. The increased confidence demonstrated by SG Americas Securities LLC through their significant investment in Lazard indicates a belief in the company’s potential for long-term growth.

It will be interesting to observe how the future unfolds for Lazard Ltd, especially considering its growing popularity among institutional investors. As of September 17, 2023, the date of this article, Lazard continues to operate as one of the leading asset management firms in the global market.

Institutional Investors Increase Holdings in Lazard Ltd. as Research Reports Boost Confidence

Lazard Ltd.’s stock has caught the attention of several institutional investors in recent months, leading to changes in their positions within the company. Vanguard Group Inc., for instance, increased its holdings in Lazard by 1.3% during the third quarter. As of last quarter, Vanguard Group Inc. now owns an impressive 10,065,467 shares of Lazard’s stock, which are worth approximately $320,383,000. This was achieved through the acquisition of an additional 128,061 shares.

Similarly, FMR LLC boosted its stake in Lazard by 1.6% during the first quarter and now owns 9,265,170 shares valued at $306,770,000. Ariel Investments LLC also saw growth in its holdings as it acquired an additional 439,866 shares during the same period. This brought their total ownership to 8,560,437 shares worth $295,335,000.

BlackRock Inc.’s position in Lazard grew by 0.5% during the third quarter with the addition of 25,207 shares. Currently owning a total of 4,669,725 shares valued at $148,638,000.

Lastly Price T Rowe Associates Inc. MD increased its holdings by a staggering 14.1%, adding an extra 462,677 shares to its portfolio and bringing the total ownership to 3,750,o53 shares.

However perplexing this may seem given these investments from institutions such as FMR LLC and BlackRock Inc., it is pertinent to bear in mind that these figures were last updated on September 17th of this year.

So what does all this mean for Lazard? It is difficult to say definitively but it couldn’t hurt that several research reports have initiated coverage on the company – StockNews.com set a “hold” rating for Lazard while Morgan Stanley upgraded its ratings from “equal weight” to “overweight” and boosted the price objective. Keefe, Bruyette & Woods, on the other hand, raised Lazard’s rating from “underperform” to “market perform” and increased its price target.

Wolfe Research also upgraded Lazard’s rating from “underperform” to “peer perform”, while UBS Group raised the price target on shares of Lazard to $37.00 and gave it a “neutral” rating. Four analysts have rated the stock as a hold while two have issued a buy rating.

Lazard shares (NYSE:LAZ) traded at $33.39 on Friday, showing an increase of $0.22 per share, with a total trading volume of 357,622 shares for the day. These numbers are compared against an average trading volume of 702,147 shares. The business has a 50-day simple moving average of $34.02 and a 200-day simple moving average of $32.68.

As for the company’s financial performance, Lazard released its quarterly earnings data on Thursday, July 27th. It reported earnings per share for the quarter amounting to $0.24, surpassing consensus estimates by $0.13 cents per share.

Moreover, Lazard achieved a return on equity (ROE) of 30.45% and registered a net margin of 0.07%. The firm generated $620 million in revenue during the quarter compared to analyst estimates of $572.06 million – indicating strong growth despite an overall decrease in revenue by8/3% compared to last year’s figures.

Based on this data, analysts predict that Lazard Ltd will post earnings per share of approximately $0.79 for the current year.

It remains unclear what further developments lie ahead for Lazard Ltd., but it is evident that institutional investors have taken notice and made adjustments accordingly in their positions within the company throughout the third quarter. As always, it is important for investors to stay informed and assess various factors before making any investment decisions.