Mackenzie Financial Corp, a prominent financial corporation, recently made waves in the investment world by purchasing a new position in Lazard Ltd (NYSE:LAZ). The company’s bold move was revealed in its most recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC), shedding light on their acquisition of 211,300 shares of Lazard’s stock. This significant purchase holds an approximate value of $6,996,000, showcasing Mackenzie Financial Corp’s strong belief in the asset manager’s potential.

As per the report, Mackenzie Financial Corp now owns approximately 0.19% of Lazard at the end of the latest reporting period. Such a notable stake highlights their confidence in Lazard Ltd and suggests that they view it as a strategic investment opportunity worth pursuing.

Lazard (NYSE:LAZ) is an industry-leading financial advisory and asset management firm that operates across several continents. With a presence in North America, Europe, Asia, Australia, and Central and South America, Lazard Ltd has positioned itself as a global powerhouse in the finance industry. Offering an extensive range of services under its two core segments – Financial Advisory and Asset Management – Lazard caters to clients’ diverse needs related to mergers and acquisitions, restructurings, capital raising, shareholder advisory matters, sovereign advisory services, and various other strategic advisory ventures.

However exciting Mackenzie Financial Corp’s recent acquisition may be for them as investors or enthusiasts observing this development from afar, it is crucial to delve deeper into Lazard’s performance to gauge its true potential.

On April 28th this year – the most recent announcement at the time of writing – Lazard disclosed its quarterly earnings results. Unfortunately for shareholders and analysts alike anticipating positive news regarding earnings per share (EPS), Lazard fell short of consensus estimates by ($0.56), with reported figures reflecting ($0.26) EPS for the quarter. Despite a net margin of 8.20% and a return on equity of 36.72%, Lazard faced challenges during this period, recording a steep decline in revenue compared to the same quarter the previous year.

During Q1 2023, Lazard posted revenue figures of $561.20 million, reflecting a significant drop of 21.6% when compared to analysts’ expectations of $549.62 million. This decline could raise concerns among investors who might be seeking more stability and consistency before committing substantial amounts to shares of the company.

Nonetheless, it is imperative to maintain perspective when assessing Lazard’s prospects going forward. Analysts have forecasted that despite these recent obstacles, it is likely that Lazard Ltd will post an EPS of approximately 0.88 for the current fiscal year. This prediction indicates potential growth opportunities for the company as it navigates through challenges and repositions itself within an ever-changing financial landscape.

In conclusion, Mackenzie Financial Corp’s strategic purchase of a new position in Lazard Ltd demonstrates their confidence in the future prospects of this renowned asset management firm. By acquiring over 200,000 shares valued at nearly $7 million, Mackenzie Financial Corp has signified their belief in Lazard’s resilience amidst adversity and its ability to rebound from challenging quarters.

While recent earnings figures indicate some hurdles encountered by Lazard Ltd, it is essential to view them within a broader context. With its established presence across multiple continents and a diversified range of top-tier financial services offered under its Financial Advisory and Asset Management segments, Lazard is well-positioned to navigate obstacles confidently.

As investors contemplate the implications of Mackenzie Financial Corp’s investment in Lazard Ltd, they should consider not only current financial standings but also future projections for the company’s performance in order to make informed decisions about their own investment strategies moving forward in this dynamic market landscape.

*Article intended for informative purposes only and not to be used as financial advice.

Institutional Investors and Hedge Funds Show Growing Interest in Lazard Ltd’s Financial Advisory and Asset Management Services

Lazard Ltd, a renowned financial advisory and asset management firm, has caught the attention of several institutional investors and hedge funds in recent times. Among these key players, Vanguard Group Inc. saw an increase of 1.3% in its stake during the third quarter, now owning a total of 10,065,467 shares valued at $320,383,000. Ariel Investments LLC also experienced a surge in its position by 5.4% during the first quarter, with a current ownership of 8,560,437 shares amounting to $295,335,000.

This heightened interest in Lazard is not limited to specific institutions. BlackRock Inc., for instance, grew its position by 0.5% during the third quarter and currently owns 4,669,725 shares worth $148,638,000. Price T Rowe Associates Inc. MD saw a substantial increase in its stake by 14.1% during the second quarter and has accumulated a total of 3,750,853 shares valued at $121,565,000. Lastly, Charles Schwab Investment Management Inc. witnessed a growth of 10.1% in its Lazard stakes during the fourth quarter and now holds an impressive 2,7730 million shares valued at $96,1500 million.

It is noteworthy that institutional investors and hedge funds collectively own roughly 55.74% of Lazard’s stock as of this date – July 14th ,2023.

Trading under the symbol LAZ on Friday opened at $34.81 per share for Lazard Ltd stocks. Over the past year (from July14th2022-July14th2023), this company has seen significant fluctuations in its stock price ranging from a low point of $27.71 to a high point of $43.44 throughout this duration.

As far as financials are concerned,Lazard boasts an impressive current ratio and quick ratio of 1.63, presenting a strong liquidity position. Furthermore, the company exhibits a debt-to-equity ratio of 3.32, denoting its reliance on borrowed funds to finance operations or make investments.

In terms of valuation, Lazard currently holds a market capitalization of $3.93 billion.The firm’s price-earnings (P/E) ratio stands at 16.19, reflecting investor sentiment towards the company’s future earnings potential. Additionally, Lazard possesses a beta value of 1.40, indicating its susceptibility to market volatility.

Lazard Ltd operates globally with operations spanning North America, Europe, Asia, Australia, and Central and South America. The firm primarily functions in two segments – Financial Advisory and Asset Management. Under the Financial Advisory segment,Lazard provides various financial services related to mergers and acquisitions,restructurings,capital advisory,capital raising,and other strategic advisory matters.An asset management division is also part of the company’s operations.

Moreover, Lazard recently made an announcement regarding a quarterly dividend payment on May 19th for its investors.The dividend payout was set at $0.50 per share.As an annualized figure,this amounts to a total dividend of $2.00 with an impressive yield of 5.75%. Investors who held shares as of May 8th received this designated payout.Consequently,the ex-dividend date was set as May 5th.Moreover,Lazard’s current dividend payout ratio stands at 93.02%, reflecting the percentage of earnings distributed to shareholders in the form of dividends.

Various analysts have weighed in on LAZ stocks,independently providing their ratings for potential investors.Ironically,on April 28th ,TheStreet downgraded Lazard’s rating from “b” grade to “c”.StockNews.com,on the other hand,startedbacking Lazard by issuinga “hold” rating on May18th.Meanwhile,Keefe,Bruyette & Woods upgraded Lazard’s rating from an “underperform” to a “market perform”,with a target price hike from $31.00 to $36.00 in their report on July 3rd.Another notable upgrade came from Wolfe Research,in which the firm revised Lazard’s rating from an “underperform” to a “peer perform” rating on July 3rd.Lastly,Morgan Stanley’s upgrade of Lazard from “equal weight” to an “overweight” rating was accompanied by a target price increase from $36.00 to $43.00 on July 12th.

Overall,there exists a mixed sentiment amongst analysts and investors alike regarding LAZ stocks.Reflecting this divergence of opinion,on average Bloomberg surveys suggest that the company gains an average rating of”Hold” with a median target price set at $42.00.

Lazard Ltd continues to attract attention in the investment community, capturing the interest of institutional investors and hedge funds alike.With its diverse range of financial services and global presence,the company has positioned itself as a key player in the financial advisory and asset management industry.Despite varying viewpoints from analysts,Lazard exhibits potential for growth and remains committed to delivering value to its shareholders through dividends

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