Lazard, Inc. (NYSE:LAZ) Given Average Recommendation of “Hold” by Analysts

Shares of Lazard, Inc. (NYSE:LAZ) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $51.14.

LAZ has been the topic of a number of research reports. JMP Securities raised their price target on Lazard from $52.00 to $55.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $56.00 price objective (up previously from $49.00) on shares of Lazard in a report on Friday, July 26th. UBS Group lifted their price objective on Lazard from $49.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Wells Fargo & Company assumed coverage on Lazard in a report on Thursday, September 12th. They issued an “equal weight” rating and a $51.00 price objective on the stock. Finally, StockNews.com upgraded Lazard from a “hold” rating to a “buy” rating in a report on Friday, July 26th.

Insider Buying and Selling

In related news, Chairman Kenneth M. Jacobs sold 87,770 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $48.08, for a total value of $4,219,981.60. Following the sale, the chairman now directly owns 1,553,225 shares of the company’s stock, valued at $74,679,058. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Lazard news, Chairman Kenneth M. Jacobs sold 86,728 shares of Lazard stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $50.02, for a total transaction of $4,338,134.56. Following the sale, the chairman now directly owns 1,640,995 shares of the company’s stock, valued at approximately $82,082,569.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Kenneth M. Jacobs sold 87,770 shares of Lazard stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $48.08, for a total value of $4,219,981.60. Following the sale, the chairman now directly owns 1,553,225 shares in the company, valued at approximately $74,679,058. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 176,497 shares of company stock valued at $8,658,086 over the last ninety days. 3.86% of the stock is owned by insiders.

Institutional Trading of Lazard

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Lazard during the 1st quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its holdings in shares of Lazard by 1,125.0% during the second quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 675 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Lazard by 58.9% during the second quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 330 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of Lazard during the second quarter valued at approximately $87,000. Finally, LWM Advisory Services LLC purchased a new position in shares of Lazard during the second quarter valued at approximately $88,000. 54.80% of the stock is owned by institutional investors.

Lazard Trading Down 0.3 %

NYSE LAZ opened at $53.44 on Monday. The stock’s 50-day simple moving average is $49.18 and its two-hundred day simple moving average is $43.50. Lazard has a twelve month low of $25.82 and a twelve month high of $54.72. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 3.60. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of -152.69 and a beta of 1.39.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, July 25th. The asset manager reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.17. Lazard had a return on equity of 41.78% and a net margin of 5.50%. The business had revenue of $685.30 million for the quarter, compared to the consensus estimate of $625.40 million. During the same quarter last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts forecast that Lazard will post 2.43 EPS for the current fiscal year.

Lazard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a $0.50 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.00 annualized dividend and a dividend yield of 3.74%. Lazard’s payout ratio is presently -571.43%.

Lazard Company Profile

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.