Lazard (LAZ) Jumps After Peltz's Trian Fund Shows New 5.1% Stake

Article Stock Quotes (1) Comments (0)

Shares of Lazard Ltd (NYSE: LAZ) are jumping 5 percent higher mid-day after Nelson Peltz's Trian Fund Management, L.P. disclosed that it beneficially own approximately 6.3 million shares, or approximately 5.1% of the Class A Common.

Trian believes Lazard's shares, which closed on June 15, 2012 at $23.09 per share, are significantly undervalued and that successful execution of Lazard’s plan could result in the Company increasing earnings per share to slightly more than $3.50 in 2014. This would imply a target value per share more than double the current price.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: Kyle Bass 13G Shows 9.7% Stake in Dex Media (DXM)
• Warren Buffett's Berkshire Hathaway shows new stake in Chicago Bridge & Iron (CBI)
• UPDATE: Intuit, Inc. (INTU) Tops Q3 EPS by 4c, Offers Guidance

Create E-mail Alert Related Categories

13Ds, Hedge Funds, Hot Hedge Fund News

Related Entities

Nelson Peltz, Trian Fund, Lazard, Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?