Dark Forest Capital Management LP, a prominent investment management firm, has recently acquired a new stake in Lazard Ltd (NYSE:LAZ), according to its latest disclosure filed with the Securities & Exchange Commission. This purchase highlights Dark Forest Capital’s confidence in the asset manager’s potential and performance.
During the 1st quarter, Dark Forest Capital purchased 15,767 shares of Lazard Ltd’s stock, which were valued at approximately $522,000. By investing in this stake, Dark Forest Capital demonstrates its belief in the company’s long-term growth prospects and commitment towards optimizing its portfolio.
Apart from securing this new stake, Lazard Ltd has also made headlines for declaring a quarterly dividend. The dividend payment took place on Friday, August 18th, benefiting stockholders who were recorded as owners on Monday, August 7th. Each eligible shareholder received a $0.50 dividend on this occasion.
It is worth noting that those investors who held Lazard Ltd’s stock until Friday, August 4th were entitled to the aforementioned dividend; otherwise known as the ex-dividend date. This marked date signifies ownership requirements for shareholders aiming to receive dividends.
Considering these developments, Lazard Ltd currently offers an annualized dividend totaling $2.00 per share. Furthermore, with a dividend yield of 5.68%, the company provides an attractive return to its shareholders through consistent payouts.
While Lazard Ltd continues to impress both investors and analysts with its financial performance and leadership in asset management services, it is important to highlight that the payout ratio stands at -1,111.11%. This figure indicates that dividends paid out by the company exceed its net income or earnings during this particular period.
The recent acquisition of Lazard Ltd stock by Dark Forest Capital Management LP showcases their confidence in the firm’s potential and aligns with their investment strategy. By divulging their newly attained stake and considering the quarterly dividend declaration from Lazard Ltd, it is evident that both parties have faith in the company’s ability to generate favorable returns for its shareholders.
As of September 3, 2023, this serves as a notable development in the investment landscape and provides investors with valuable insights into Dark Forest Capital’s latest investment endeavors. It will be interesting to observe how Lazard Ltd progresses in the coming months and potentially capitalize on its partnership with Dark Forest Capital Management LP.
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Lazard Ltd Receives Strong Interest from Institutional Investors and Hedge Funds, Solidifying its Attractive Position in the Investment World
Lazard Ltd, a leading global financial advisory and asset management firm, has recently garnered significant interest from institutional investors and hedge funds. The company’s stock has attracted the attention of several key players in the investment world, further solidifying its position as an attractive option for those looking to diversify their portfolios.
One notable newcomer to the scene is CoreCap Advisors LLC, which purchased a new position in Lazard during the fourth quarter of last year. The investment was valued at $25,000, highlighting CoreCap Advisors’ potential confidence in Lazard’s future prospects.
Another prominent investor, CENTRAL TRUST Co, significantly increased its holdings in Lazard by 88.7% during the third quarter. With 800 shares now under its ownership at a value of $25,000, CENTRAL TRUST Co seems to have recognized the appeal and potential growth opportunities that Lazard presents.
Acadian Asset Management LLC also joined the ranks of Lazard shareholders during the first quarter of this year with a purchase worth approximately $48,000. Tower Research Capital LLC TRC similarly expanded its position in Lazard by 489.4% during the third quarter. Tower Research Capital now owns 1,727 shares valued at $55,000.
CWM LLC made a substantial move by increasing its stake in Lazard by 318.2% during the first quarter. This bold step resulted in CWM LLC’s ownership of 1,815 shares worth $60,000.
It is worth noting that institutional investors currently hold around 57.64% of Lazard’s stock. This percentage showcases their confidence in the company’s ability to deliver results and generate long-term value for its shareholders.
Equity analysts have also weighed in on Lazard recently. Keefe, Bruyette & Woods upgraded their rating on the company from “underperform” to “market perform,” increasing their target price from $31.00 to $36.00. UBS Group also boosted their price objective on Lazard from $32.00 to $37.00, giving it a “neutral” rating. Wolfe Research upgraded the stock from “underperform” to “peer perform.” Morgan Stanley took Lazard from an “equal weight” rating to an “overweight” rating and raised the price target from $36.00 to $43.00. StockNews.com initiated coverage on Lazard with a “hold” rating.
Current trading activities show that shares of Lazard (NYSE:LAZ) were traded at $35.23, with 26,749 shares exchanging hands in comparison to its average daily volume of 704,792 shares. The company’s fifty-day simple moving average stands at $33.63, while its 200-day simple moving average is slightly higher at $32.95.
Lazard exhibits a solid financial standing, with a debt-to-equity ratio of 4.06, indicating prudent financial management practices and stability. Additionally, the company boasts a current ratio of 1.56 and quick ratio of 1.56, suggesting robust liquidity positions in support of its operational activities.
The asset manager reported impressive earnings data for the quarter ended on July 27th, surpassing expectations with an EPS (earnings per share) of $0.24 compared to analysts’ consensus estimate of $0.11 – an impressive achievement that exceeded expectations by $0.13 per share.
Lazard’s exceptional return on equity of 30.45% signifies sound management practices and effective capital allocation strategies in unlocking value for shareholders.
Despite a slight decline in revenue year-over-year by 8.3%, amounting to $620 million for the quarter compared to the consensus estimate of $572 million, Lazard has displayed resilience and adaptability amid challenging market conditions.
Research analysts anticipate that Lazard Ltd will post an EPS of 0.82 for the current year. This forecast reflects positive sentiment from market commentators and suggests continued strength for the company.
All in all, Lazard has demonstrated its appeal to institutional investors and hedge funds alike through its promising financial performance, expanding market presence, and positive outlook. As the investment landscape continues to evolve, the interest in Lazard’s stock highlights the potential rewards that come with including this renowned global financial advisory and asset management firm in one’s investment portfolio.
