Lazard, Inc. (NYSE:LAZ) Given Average Rating of “Moderate Buy” by Brokerages

Lazard, Inc. (NYSE:LAZ) has received an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $48.33.

A number of equities analysts have weighed in on LAZ shares. StockNews.com upgraded shares of Lazard from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their price objective on shares of Lazard from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $56.00 price objective (up from $49.00) on shares of Lazard in a research report on Friday, July 26th. Finally, Morgan Stanley upped their price objective on shares of Lazard from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd.

Lazard Stock Performance

Shares of NYSE LAZ opened at $44.28 on Wednesday. The company’s fifty day moving average price is $40.97 and its 200 day moving average price is $39.97. Lazard has a 1 year low of $25.82 and a 1 year high of $49.78. The company has a market capitalization of $4.99 billion, a PE ratio of -126.51 and a beta of 1.40. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.89 and a current ratio of 1.94.

Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, July 25th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.17. Lazard had a net margin of 5.50% and a return on equity of 41.78%. The firm had revenue of $685.30 million for the quarter, compared to the consensus estimate of $625.40 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, research analysts predict that Lazard will post 2.56 earnings per share for the current year.

Lazard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, August 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend is Monday, August 5th. Lazard’s dividend payout ratio (DPR) is -571.43%.

Insider Activity

In other news, Chairman Kenneth M. Jacobs sold 154,131 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $40.21, for a total value of $6,197,607.51. Following the completion of the sale, the chairman now directly owns 1,989,591 shares in the company, valued at $80,001,454.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Kenneth M. Jacobs sold 207,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $45.23, for a total transaction of $9,362,610.00. Following the completion of the sale, the chairman now directly owns 1,729,722 shares in the company, valued at $78,235,326.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Kenneth M. Jacobs sold 154,131 shares of the firm’s 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 sale, the chairman now owns 1,989,591 shares of the company’s stock, valued at $80,001,454.11. The disclosure for this sale can be found here. Insiders sold 414,000 shares of company stock worth $17,683,738 over the last three months. Insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Lazard

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Lazard during the first quarter worth about $25,000. Continuum Advisory LLC increased its position in Lazard by 58.9% during the second quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock worth $34,000 after purchasing an additional 330 shares during the last quarter. SYSTM Wealth Solutions LLC acquired a new stake in Lazard during the first quarter worth about $48,000. International Assets Investment Management LLC acquired a new stake in Lazard during the second quarter worth about $150,000. Finally, nVerses Capital LLC increased its position in Lazard by 22.2% during the second quarter. nVerses Capital LLC now owns 4,400 shares of the asset manager’s stock worth $168,000 after purchasing an additional 800 shares during the last quarter. 54.80% of the stock is currently owned by institutional investors and hedge funds.

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.