Friday, October 19, 2018

Recent Buy - Lazard Ltd (LAZ)

Monday October 15, I bought 50 shares of Lazard Ltd at $ 42.88 per share plus commission.

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters. This segment serves corporate, partnership, institutional, government, sovereign, and individual clients. The company's Asset Management segment offers a range of investment solutions and investment management services in equity and fixed income strategies; and alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries, and private clients. Lazard Ltd was founded in 1848 and is based in Hamilton, Bermuda.

LAZ is a Dividend Contenders with a 11 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 8.1, 10.3, 16.2 and 16.2. (Dividend Champions.xls) Lazard Ltd now pays dividends of $ 0.44 per share normally in February, May, August and November.

Details of my purchase:

Some ratings for LAZ:

    Yahoo: Mean Recommendation 2.0, 1y Target Est $ 61.00
    Reuters: Mean Rating 1.88
    Morningstar:  (****) 

At today's exchange rate, that purchase 50 shares of LAZ will increase € 57.19 ($ 65.56) of my expected annual net dividend income and will increase my portfolio's projected annual net dividend income to € 13,680.00. With purchase price $ 42.88 plus commission ($ 17.39) my starting yield on cost is 4.07%. After this acquisition, LAZ's weight of my portfolio is about 0.42% and its share of future annual dividend income is approximately 0.41%. My purpose is to add more LAZ to my portfolio if the price remains at these levels.

Click here to see my portfolio.

Full Disclosure: Long LAZ

Thanks for stopping by!

1 comment:

  1. I think Lazard ltd is fairly valued and a good buy but my only problem with this stock is the taxing.
    It is located in Bermudas and income is treated as personal income, not capital-income and because of that taxing is pretty high.