Lazard, Inc. (NYSE:LAZ) Receives Average Recommendation of “Hold” from Brokerages

Shares of Lazard, Inc. (NYSE:LAZ) have earned an average recommendation of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $52.5556.

Several equities research analysts have commented on the stock. Citigroup restated an “outperform” rating on shares of Lazard in a research note on Friday, April 10th. Wall Street Zen lowered shares of Lazard from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Argus dropped their price target on shares of Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Bank of America assumed coverage on shares of Lazard in a research note on Monday, January 26th. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Morgan Stanley dropped their price target on shares of Lazard from $59.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th.

Insider Transactions at Lazard

In other Lazard news, CEO Peter Richard Orszag sold 69,170 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $40.76, for a total transaction of $2,819,369.20. Following the sale, the chief executive officer directly owned 210,942 shares in the company, valued at approximately $8,597,995.92. The trade was a 24.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Hogbin sold 3,944 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $39.37, for a total transaction of $155,275.28. Following the sale, the chief executive officer owned 11,829 shares in the company, valued at $465,707.73. This trade represents a 25.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,999 shares of company stock worth $3,292,962 over the last 90 days. 0.95% of the stock is owned by insiders.

Institutional Trading of Lazard

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its position in shares of Lazard by 7.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,747 shares of the asset manager’s stock worth $754,000 after buying an additional 1,279 shares in the last quarter. Infrastructure Capital Advisors LLC raised its position in shares of Lazard by 15.5% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 7,391 shares of the asset manager’s stock worth $314,000 after buying an additional 994 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Lazard during the 1st quarter worth about $1,037,000. Polar Asset Management Partners Inc. bought a new stake in shares of Lazard during the 1st quarter worth about $2,153,000. Finally, Weiss Asset Management LP bought a new stake in shares of Lazard during the 1st quarter worth about $369,000. 54.80% of the stock is currently owned by institutional investors.

Lazard Price Performance

Shares of NYSE:LAZ opened at $45.28 on Tuesday. The firm’s 50 day moving average is $44.46 and its two-hundred day moving average is $48.75. Lazard has a 52 week low of $38.67 and a 52 week high of $58.75. The firm has a market capitalization of $5.06 billion, a P/E ratio of 17.90, a PEG ratio of 0.48 and a beta of 1.44. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.94.

Lazard (NYSE:LAZ) last announced its quarterly earnings results on Friday, May 1st. The asset manager reported $0.42 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.10). Lazard had a net margin of 8.47% and a return on equity of 29.30%. The firm had revenue of $672.98 million during the quarter, compared to analyst estimates of $707.42 million. During the same quarter in the previous year, the business posted $0.56 EPS. Lazard’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts anticipate that Lazard will post 2.85 earnings per share for the current year.

Lazard Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 11th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, May 11th. Lazard’s payout ratio is 79.05%.

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.