Rep. Jefferson Shreve Sells Lazard, Inc. (NYSE:LAZ) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Lazard, Inc. (NYSE:LAZ). In a filing disclosed on April 11th, the Representative disclosed that they had sold between $15,001 and $50,000 in Lazard stock on March 31st. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Harley-Davidson (NYSE:HOG) on 3/31/2025.
• Purchased $50,001 – $100,000 in shares of Block (NYSE:XYZ) on 3/31/2025.
• Sold $15,001 – $50,000 in shares of DuPont de Nemours (NYSE:DD) on 3/31/2025.
• Purchased $15,001 – $50,000 in shares of United Community Banks (NASDAQ:UCB) on 3/31/2025.
• Sold $15,001 – $50,000 in shares of IDEX (NYSE:IEX) on 3/31/2025.
• Purchased $15,001 – $50,000 in shares of HNI (NYSE:HNI) on 3/31/2025.
• Sold $50,001 – $100,000 in shares of ServiceNow (NYSE:NOW) on 3/31/2025.
• Sold $15,001 – $50,000 in shares of Coinbase Global (NASDAQ:COIN) on 3/31/2025.
• Sold $15,001 – $50,000 in shares of Constellation Energy (NASDAQ:CEG) on 3/31/2025.
• Sold $50,001 – $100,000 in shares of Simon Property Group (NYSE:SPG) on 3/31/2025.

Lazard Trading Up 0.7 %

NYSE:LAZ traded up $0.27 during midday trading on Tuesday, reaching $35.85. 949,649 shares of the stock traded hands, compared to its average volume of 941,495. Lazard, Inc. has a 12 month low of $31.97 and a 12 month high of $61.14. The stock has a market capitalization of $4.04 billion, a P/E ratio of 13.48 and a beta of 1.27. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.24 and a current ratio of 2.24. The company has a fifty day moving average of $46.03 and a 200 day moving average of $50.52.

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

Lazard Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.00 annualized dividend and a yield of 5.58%. Lazard’s payout ratio is 75.19%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JMP Securities cut their price target on Lazard from $60.00 to $55.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group lowered their price target on Lazard from $51.00 to $44.00 and set a “sell” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company cut their price objective on shares of Lazard from $44.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley cut shares of Lazard from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $56.00 to $33.00 in a report on Monday, April 7th. Finally, Wolfe Research cut shares of Lazard from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.83.

Hedge Funds Weigh In On Lazard

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Lazard by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 10,788,512 shares of the asset manager’s stock valued at $555,393,000 after acquiring an additional 81,559 shares during the period. Capital Research Global Investors grew its position in Lazard by 5.8% during the fourth quarter. Capital Research Global Investors now owns 4,429,776 shares of the asset manager’s stock valued at $228,045,000 after buying an additional 240,938 shares during the period. Geode Capital Management LLC increased its holdings in Lazard by 26.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,249 shares of the asset manager’s stock valued at $118,294,000 after buying an additional 483,696 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Lazard by 10.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,250,049 shares of the asset manager’s stock worth $113,357,000 after acquiring an additional 206,295 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Lazard by 2.9% in the 3rd quarter. State Street Corp now owns 1,948,167 shares of the asset manager’s stock worth $98,149,000 after purchasing an additional 55,469 shares in the last quarter. 54.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Evan L. Russo sold 25,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $55.32, for a total transaction of $1,383,000.00. Following the completion of the sale, the chief executive officer now owns 163,448 shares in the company, valued at approximately $9,041,943.36. This trade represents a 13.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Richard Orszag sold 64,539 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $45.24, for a total value of $2,919,744.36. Following the completion of the transaction, the chief executive officer now owns 234,824 shares of the company’s stock, valued at $10,623,437.76. The trade was a 21.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,078 shares of company stock valued at $9,120,541. 3.86% of the stock is owned by company insiders.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

Lazard Company 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.