Lazard (NYSE:LAZ) CEO Peter Richard Orszag Sells 125,000 Shares

Lazard, Inc. (NYSE:LAZ) CEO Peter Richard Orszag sold 125,000 shares of Lazard stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $43.52, for a total transaction of $5,440,000.00. Following the transaction, the chief executive officer owned 260,942 shares of the company’s stock, valued at approximately $11,356,195.84. The trade was a 32.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lazard Price Performance

Shares of NYSE LAZ traded down $0.95 on Wednesday, hitting $42.84. The company’s stock had a trading volume of 1,573,203 shares, compared to its average volume of 1,486,206. The stock has a 50 day moving average of $42.89 and a 200-day moving average of $45.26. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43. Lazard, Inc. has a 12-month low of $38.67 and a 12-month high of $58.75. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.84 and a quick ratio of 2.84.

Lazard (NYSE:LAZ) last issued its quarterly earnings data on Friday, July 24th. The asset manager reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.22). Lazard had a return on equity of 23.58% and a net margin of 6.95%.The business had revenue of $786.47 million for the quarter, compared to analysts’ expectations of $736.29 million. During the same period last year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts predict that Lazard, Inc. will post 2.18 EPS for the current year.

Lazard Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.00 annualized dividend and a yield of 4.7%. Lazard’s dividend payout ratio (DPR) is presently 98.04%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LAZ shares. Morgan Stanley set a $44.00 price objective on Lazard in a research report on Friday, July 24th. The Goldman Sachs Group reissued a “sell” rating on shares of Lazard in a research note on Thursday, July 23rd. Argus reduced their target price on shares of Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. UBS Group reaffirmed a “neutral” rating and set a $44.00 price target on shares of Lazard in a research note on Tuesday, June 9th. Finally, Weiss Ratings downgraded shares of Lazard from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.38.

Institutional Investors Weigh In On Lazard

Hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in Lazard in the fourth quarter valued at $26,000. IFP Advisors Inc lifted its position in Lazard by 53.5% during the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after buying an additional 224 shares during the period. State of Wyoming purchased a new position in Lazard during the second quarter worth about $38,000. Triumph Capital Management acquired a new stake in Lazard in the 3rd quarter worth about $42,000. Finally, Compass Financial Management LLC acquired a new stake in Lazard in the 2nd quarter worth about $41,000. Institutional investors and hedge funds own 54.80% of the company’s stock.

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.