Lazard (NYSE:LAZ) Research Coverage Started at Bank of America

Bank of America assumed coverage on shares of Lazard (NYSE:LAZ) in a research note published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $65.00 price objective on the asset manager’s stock.

LAZ has been the topic of several other reports. UBS Group started coverage on shares of Lazard in a report on Thursday, December 11th. They set a “neutral” rating and a $54.00 target price on the stock. BMO Capital Markets began coverage on shares of Lazard in a research report on Friday, October 3rd. They set a “market perform” rating and a $56.00 price objective for the company. The Goldman Sachs Group set a $46.00 price objective on shares of Lazard and gave the company a “sell” rating in a research report on Thursday, October 23rd. Keefe, Bruyette & Woods lowered their target price on Lazard from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, January 8th. Finally, Zacks Research downgraded Lazard from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.13.

Lazard Stock Down 0.4%

Shares of Lazard stock opened at $52.55 on Monday. The company has a market capitalization of $5.92 billion, a P/E ratio of 20.77 and a beta of 1.38. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.58 and a quick ratio of 2.58. The business has a 50-day moving average of $50.95 and a two-hundred day moving average of $52.00. Lazard has a 1 year low of $31.97 and a 1 year high of $58.07.

Hedge Funds Weigh In On Lazard

A number of institutional investors have recently added to or reduced their stakes in the company. Teza Capital Management LLC grew its holdings in shares of Lazard by 2.4% during the second quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock worth $387,000 after purchasing an additional 187 shares during the last quarter. Lesa Sroufe & Co raised its holdings in Lazard by 0.4% in the 3rd quarter. Lesa Sroufe & Co now owns 52,836 shares of the asset manager’s stock valued at $2,789,000 after buying an additional 217 shares during the last quarter. Sound Income Strategies LLC boosted its position in Lazard by 59.5% during the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares during the period. IFP Advisors Inc grew its holdings in Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after acquiring an additional 224 shares during the last quarter. Finally, Oliver Luxxe Assets LLC increased its position in Lazard by 0.5% in the 4th quarter. Oliver Luxxe Assets LLC now owns 47,628 shares of the asset manager’s stock valued at $2,313,000 after acquiring an additional 235 shares during the period. 54.80% of the stock is currently owned by institutional investors and hedge funds.

About Lazard

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.