From MarketBeat:

RWC Asset Management LLP sold 86.2% of its stake in Lazard Ltd (NYSE:LAZ) in Q3, filing with the SEC. The firm now owns 28,631 shares of Lazard’s stock worth $888,000. CENTRAL TRUST Co and Parallel Advisors LLC also added to their stakes, while other large investors reduced their stakes.

Lazard (NYSE:LAZ) stock traded at $37.96 on Friday with a trading volume of 1,940,493 shares. The company’s stock had a 50-day moving average of $31.00 and a 200-day moving average of $31.96. Lazard’s 52-week low is $25.82 and 52-week high is $43.44.

Lazard last reported quarterly earnings on October 26th. The asset manager announced $0.10 earnings per share, missing analysts’ consensus of $0.19. The revenue for the quarter was $532.00 million compared to analysts’ expectations of $572.54 million. Lazard’s revenue was down 26.8% on a year-over-year basis.

Lazard Ltd recently disclosed a quarterly dividend and paid it out on Friday, November 17th. Shareholders received a $0.50 per share dividend. Lazard’s dividend payout ratio (DPR) is currently -169.49%, representing an annualized dividend of $2.00 and a yield of 5.27%.

Lazard (NYSE:LAZ) has been the subject of several recent research reports. The stock’s average rating from MarketBeat is “Hold” with a consensus target price of $39.33. The Goldman Sachs Group, Morgan Stanley, and StockNews.com are among those issuing ratings on the company.

Lazard Ltd operates as a financial advisory and asset management firm. The company offers various financial advisory services regarding mergers and acquisitions, restructurings, and capital advisory. Its Financial Advisory and Asset Management segments cater to markets globally, including North America, Europe, Asia, Australia, and Central and South America.



Read more: RWC Asset Management LLP Sells 178,904 Shares of Lazard Ltd (NYSE:LAZ)