My Legacy Advisors LLC Makes New $215,000 Investment in Lazard, Inc. (NYSE:LAZ)

My Legacy Advisors LLC purchased a new stake in shares of Lazard, Inc. (NYSE:LAZ) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 4,272 shares of the asset manager’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. O ROURKE & COMPANY Inc bought a new position in shares of Lazard during the first quarter valued at approximately $342,000. Allspring Global Investments Holdings LLC bought a new stake in Lazard during the 1st quarter valued at $25,000. Maryland State Retirement & Pension System purchased a new position in shares of Lazard in the 1st quarter valued at $362,000. Commonwealth Equity Services LLC raised its position in shares of Lazard by 20.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 37,556 shares of the asset manager’s stock worth $1,572,000 after acquiring an additional 6,465 shares in the last quarter. Finally, SpiderRock Advisors LLC bought a new position in shares of Lazard in the 1st quarter worth $459,000. 54.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LAZ shares. Morgan Stanley boosted their target price 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 reissued an “outperform” rating and set a $56.00 target price (up previously from $49.00) on shares of Lazard in a research report on Friday, July 26th. StockNews.com raised shares of Lazard from a “hold” rating to a “buy” rating in a report on Friday, July 26th. Wells Fargo & Company started coverage on Lazard in a report on Thursday, September 12th. They set an “equal weight” rating and a $51.00 price objective for the company. Finally, The Goldman Sachs Group boosted their target price on Lazard from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.14.

Insider Buying and Selling at Lazard

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

Lazard Trading Down 0.2 %

Shares of NYSE:LAZ opened at $52.54 on Wednesday. The business has a 50-day moving average price of $49.50 and a 200-day moving average price of $43.71. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of -150.11 and a beta of 1.39. Lazard, Inc. has a 52-week low of $25.82 and a 52-week 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.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, July 25th. The asset manager reported $0.52 EPS for the quarter, beating the consensus estimate of $0.35 by $0.17. The business had revenue of $685.30 million during the quarter, compared to analysts’ expectations of $625.40 million. Lazard had a net margin of 5.50% and a return on equity of 41.78%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. Equities analysts predict that Lazard, Inc. will post 2.43 EPS for the current year.

Lazard 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.