Lazard (NYSE:LAZ) Trading Down 9% – What’s Next?

Lazard, Inc. (NYSE:LAZ)’s stock price dropped 9% on Monday . The stock traded as low as $44.03 and last traded at $44.54. Approximately 546,752 shares changed hands during trading, a decline of 50% from the average daily volume of 1,094,580 shares. The stock had previously closed at $48.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on Lazard from $51.00 to $44.00 and set a “sell” rating for the company in a report on Wednesday, January 15th. StockNews.com upgraded shares of Lazard from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. UBS Group upped their target price on shares of Lazard from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price target on Lazard from $51.00 to $55.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price objective on Lazard from $52.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.33.

Lazard Stock Performance

The stock has a 50 day moving average price of $51.31 and a two-hundred day moving average price of $51.92. The company has a market cap of $5.06 billion, a P/E ratio of 16.87 and a beta of 1.41. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 2.72.

Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.09. Lazard had a return on equity of 44.58% and a net margin of 8.98%. On average, research analysts predict that Lazard, Inc. will post 4.24 earnings per share for the current fiscal year.

Lazard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Monday, February 10th. Lazard’s dividend payout ratio is currently 75.19%.

Insiders Place Their Bets

In other news, CEO Evan L. Russo sold 35,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $53.64, for a total transaction of $1,877,400.00. Following the sale, the chief executive officer now directly owns 188,448 shares of the company’s stock, valued at approximately $10,108,350.72. This represents a 15.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Lazard

A number of large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Lazard during the 3rd quarter worth approximately $235,000. US Bancorp DE boosted its holdings in shares of Lazard by 2,053.6% in the 3rd quarter. US Bancorp DE now owns 5,104 shares of the asset manager’s stock valued at $257,000 after purchasing an additional 4,867 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Lazard by 8.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 49,763 shares of the asset manager’s stock valued at $2,507,000 after purchasing an additional 3,717 shares during the last quarter. Assetmark Inc. lifted its position in shares of Lazard by 12.2% during the 3rd quarter. Assetmark Inc. now owns 5,413 shares of the asset manager’s stock worth $273,000 after buying an additional 589 shares during the last quarter. Finally, Aigen Investment Management LP boosted its stake in Lazard by 50.4% in the third quarter. Aigen Investment Management LP now owns 12,460 shares of the asset manager’s stock valued at $628,000 after buying an additional 4,178 shares in the last quarter. 54.80% of the stock is currently owned by institutional investors and hedge funds.

About Lazard

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.