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

Shares of Lazard, Inc. (NYSE:LAZ) have been given an average rating of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $51.14.

A number of analysts recently commented on LAZ shares. The Goldman Sachs Group increased their price target on Lazard from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Friday, July 26th. JMP Securities lifted their target price on Lazard from $52.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Morgan Stanley boosted their price target on shares of Lazard from $56.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $56.00 price objective (up previously from $49.00) on shares of Lazard in a report on Friday, July 26th. Finally, UBS Group boosted their target price on shares of Lazard from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th.

Lazard Price Performance

LAZ opened at $52.70 on Monday. The firm’s fifty day moving average price is $48.25 and its two-hundred day moving average price is $43.10. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of -150.57 and a beta of 1.39. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.94 and a quick ratio of 1.94. Lazard has a 1 year low of $25.82 and a 1 year high of $52.88.

Lazard (NYSE:LAZ) last issued its quarterly earnings data on Thursday, July 25th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.17. The business had revenue of $685.30 million during the quarter, compared to the consensus estimate of $625.40 million. Lazard had a net margin of 5.50% and a return on equity of 41.78%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. As a group, analysts anticipate that Lazard will post 2.43 earnings per share for the current fiscal year.

Lazard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.80%. The ex-dividend date was Monday, August 5th. Lazard’s dividend payout ratio (DPR) is presently -571.43%.

Insider Activity at Lazard

In other news, Chairman Kenneth M. Jacobs sold 1,999 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $50.01, for a total value of $99,969.99. Following the completion of the transaction, the chairman now directly owns 1,727,723 shares of the company’s stock, valued at $86,403,427.23. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Kenneth M. Jacobs sold 86,728 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $50.02, for a total transaction of $4,338,134.56. Following the completion of the transaction, the chairman now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kenneth M. Jacobs sold 1,999 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $50.01, for a total transaction of $99,969.99. Following the completion of the sale, the chairman now owns 1,727,723 shares in the company, valued at $86,403,427.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,497 shares of company stock worth $18,020,696. Corporate insiders own 3.86% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Creative Planning purchased a new stake in shares of Lazard in the third quarter worth $421,000. Oliver Luxxe Assets LLC increased its stake in Lazard by 108.6% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 43,711 shares of the asset manager’s stock worth $2,202,000 after acquiring an additional 22,755 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Lazard by 32.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,000 shares of the asset manager’s stock valued at $1,310,000 after acquiring an additional 6,400 shares during the last quarter. Park Avenue Securities LLC purchased a new position in shares of Lazard during the third quarter worth about $299,000. Finally, SPX Gestao de Recursos Ltda grew its holdings in shares of Lazard by 127.0% during the second quarter. SPX Gestao de Recursos Ltda now owns 231,452 shares of the asset manager’s stock worth $8,837,000 after purchasing an additional 129,490 shares in the last quarter. 54.80% of the stock is currently owned by hedge funds and other institutional investors.

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.