Lazard, Inc. (NYSE:LAZ) Chairman Sells $99,969.99 in Stock

Lazard, Inc. (NYSE:LAZ) Chairman Kenneth M. Jacobs sold 1,999 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $50.01, for a total value of $99,969.99. Following the completion of the transaction, the chairman now owns 1,727,723 shares in the company, valued at approximately $86,403,427.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Lazard Stock Performance

Lazard stock opened at $48.94 on Friday. Lazard, Inc. has a 1-year low of $25.82 and a 1-year high of $50.14. The firm has a 50-day moving average of $43.94 and a 200-day moving average of $40.87. The firm has a market cap of $5.52 billion, a P/E ratio of -139.83 and a beta of 1.40. The company has a current ratio of 1.94, a quick ratio of 1.89 and a debt-to-equity ratio of 3.60.

Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, July 25th. The asset manager reported $0.52 EPS for the quarter, beating 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 analysts’ expectations of $625.40 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts expect that Lazard, Inc. will post 2.56 EPS for the current year.

Lazard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Monday, August 5th. Lazard’s dividend payout ratio (DPR) is -571.43%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on Lazard from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. Morgan Stanley upped their price target on shares of Lazard from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $56.00 price target (up previously from $49.00) on shares of Lazard in a report on Friday, July 26th. Finally, StockNews.com raised shares of Lazard from a “hold” rating to a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.33.

Institutional Trading of Lazard

Hedge funds have recently bought and sold shares of the stock. Redwood Investment Management LLC purchased a new stake in Lazard in the 1st quarter worth $1,504,000. National Bank of Canada FI raised its position in shares of Lazard by 46.4% during the 4th quarter. National Bank of Canada FI now owns 110,800 shares of the asset manager’s stock valued at $4,002,000 after buying an additional 35,103 shares in the last quarter. Amica Mutual Insurance Co. raised its position in shares of Lazard by 36.6% during the 4th quarter. Amica Mutual Insurance Co. now owns 149,305 shares of the asset manager’s stock valued at $5,196,000 after buying an additional 40,036 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Lazard during the 1st quarter valued at about $1,126,000. Finally, Swedbank AB purchased a new stake in shares of Lazard during the 1st quarter valued at about $6,733,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

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.