5 Best Dividend Stocks to Buy According to John Rogers’ Ariel Investments

2. Lazard Ltd (NYSE:LAZ)

Number of Hedge Fund Holders: 14
Dividend Yield as of May 26: 5.45%
Ariel Investments’ Stake Value: $295,335,000

Lazard Ltd (NYSE:LAZ) is an American financial services company that provides banking, investment management, and other financial services to its consumers. In Q1 2022, the company generated revenue of $700 million, reflecting an 8% growth from the same period last year.

As per Insider Monkey’s Q1 2022 data, 14 hedge funds tracked by Insider Monkey reported owning stakes in Lazard Ltd (NYSE:LAZ), down from 15 in the previous quarter. These stakes hold a consolidated value of roughly $631 million. Southeastern Asset Management was one of the largest shareholders of the company in Q1 2022, with shares worth over $182.6 million.

Ariel Investments started building its position in the company during the fourth quarter of 2010, purchasing shares worth roughly $185 million. The hedge fund held shares worth $295.3 million in the company after increasing its position by 6% during Q1 2022. The company represented 2.61% of John Rogers’ portfolio.

Lazard Ltd (NYSE:LAZ) currently pays a quarterly dividend of $0.47 per share, with a dividend yield of 5.45%, as of the close of May 26. This April, Piper Sandler set a $45 price target on the stock, with an Overweight rating on the shares.

Longleaf Partners Fund mentioned Lazard Ltd (NYSE:LAZ) in its Q4 2021 investor letter. Here is what the firm has to say:

“In Financials, we own asset manager Lazard and two newer companies, all three of which are harder to understand than the simpler banks that drove the sector. We are confident that this differentiated positioning that caused the relative drag this year will be the very driver of future absolute and relative outperformance.”