Lazard, Inc. (NYSE:LAZ) Chairman Kenneth M. Jacobs Sells 6,762 Shares of Stock

Lazard, Inc. (NYSE:LAZGet Free Report) Chairman Kenneth M. Jacobs sold 6,762 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.00, for a total transaction of $270,480.00. Following the transaction, the chairman now owns 1,982,829 shares of the company’s stock, valued at approximately $79,313,160. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Lazard Trading Down 1.8 %

NYSE LAZ opened at $39.29 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 4.13. Lazard, Inc. has a 52 week low of $25.82 and a 52 week high of $42.24. The business’s fifty day simple moving average is $39.80 and its 200-day simple moving average is $37.61.

Lazard (NYSE:LAZGet Free Report) last issued its earnings results on Thursday, April 25th. The asset manager reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned ($0.26) earnings per share. Lazard’s quarterly revenue was up 41.1% compared to the same quarter last year. On average, equities research analysts predict that Lazard, Inc. will post 3.03 EPS for the current year.

Lazard Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Monday, May 6th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $2.00 annualized dividend and a yield of 5.09%. Lazard’s payout ratio is -571.41%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LAZ shares. UBS Group increased their target price on Lazard from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Morgan Stanley restated an “overweight” rating and issued a $58.00 price objective on shares of Lazard in a report on Thursday, April 11th. 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 reiterated an “outperform” rating and issued a $49.00 target price (down from $51.00) on shares of Lazard in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Lazard has an average rating of “Moderate Buy” and an average price target of $45.67.

Get Our Latest Stock Report on LAZ

Institutional Investors Weigh In On Lazard

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Lazard by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 10,678,365 shares of the asset manager’s stock valued at $447,103,000 after purchasing an additional 152,857 shares during the last quarter. FMR LLC lifted its position in Lazard by 4.8% in the third quarter. FMR LLC now owns 9,563,521 shares of the asset manager’s stock valued at $296,565,000 after buying an additional 436,034 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Lazard by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,844,038 shares of the asset manager’s stock valued at $98,973,000 after buying an additional 18,233 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Lazard by 943.5% during the first quarter. Principal Financial Group Inc. now owns 1,963,865 shares of the asset manager’s stock worth $82,227,000 after buying an additional 1,775,664 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Lazard during the first quarter valued at about $65,650,000. Institutional investors and hedge funds own 54.80% of the company’s stock.

Lazard Company Profile

(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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