Analysts Set Lazard, Inc. (NYSE:LAZ) PT at $45.00

Lazard, Inc. (NYSE:LAZGet Free Report) has been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $45.00.

Several brokerages have issued reports on LAZ. Morgan Stanley cut their target price on shares of Lazard from $58.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. UBS Group boosted their target price on shares of Lazard from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. StockNews.com raised shares of Lazard from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $49.00 price target (down from $51.00) on shares of Lazard in a research note on Friday, April 26th.

Check Out Our Latest Stock Analysis on LAZ

Insider Activity at Lazard

In related news, Chairman Kenneth M. Jacobs sold 6,762 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $40.00, for a total value of $270,480.00. Following the completion of the transaction, the chairman now owns 1,982,829 shares of the company’s stock, valued at $79,313,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Kenneth M. Jacobs sold 6,762 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $40.00, for a total value of $270,480.00. Following the completion of the transaction, the chairman now owns 1,982,829 shares of the company’s stock, valued at $79,313,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kenneth M. Jacobs sold 154,131 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $40.21, for a total transaction of $6,197,607.51. Following the completion of the transaction, the chairman now directly owns 1,989,591 shares of the company’s stock, valued at approximately $80,001,454.11. The disclosure for this sale can be found here. 3.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Empire Life Investments Inc. raised its position in Lazard by 2.0% in the 4th quarter. Empire Life Investments Inc. now owns 19,252 shares of the asset manager’s stock worth $670,000 after purchasing an additional 373 shares during the last quarter. Treasurer of the State of North Carolina raised its position in Lazard by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 48,534 shares of the asset manager’s stock worth $1,689,000 after purchasing an additional 470 shares during the last quarter. Sweet Financial Partners LLC raised its position in Lazard by 2.9% in the 1st quarter. Sweet Financial Partners LLC now owns 17,500 shares of the asset manager’s stock worth $733,000 after purchasing an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Lazard in the 1st quarter worth approximately $25,000. Finally, O Keefe Stevens Advisory Inc. raised its position in Lazard by 0.4% in the 1st quarter. O Keefe Stevens Advisory Inc. now owns 204,499 shares of the asset manager’s stock worth $8,562,000 after purchasing an additional 864 shares during the last quarter. Institutional investors own 54.80% of the company’s stock.

Lazard Price Performance

Shares of NYSE:LAZ opened at $39.89 on Friday. The company’s fifty day moving average is $39.04 and its two-hundred day moving average is $38.88. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 4.13. Lazard has a 12-month low of $25.82 and a 12-month high of $42.24. The company has a market cap of $4.50 billion, a P/E ratio of -113.97 and a beta of 1.40.

Lazard (NYSE:LAZGet Free Report) last announced its earnings results on Thursday, April 25th. The asset manager reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.08. Lazard had a negative net margin of 0.63% and a positive return on equity of 37.27%. The company had revenue of $765.00 million for the quarter, compared to the consensus estimate of $678.57 million. During the same period in the previous year, the business earned ($0.26) EPS. The company’s revenue was up 41.1% on a year-over-year basis. Equities analysts expect that Lazard will post 2.77 earnings per share for the current fiscal year.

Lazard Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, May 3rd. Lazard’s payout ratio is presently -571.41%.

About Lazard

(Get Free Report

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.

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Analyst Recommendations for Lazard (NYSE:LAZ)

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