Lazard, Inc. (NYSE:LAZ) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Lazard, Inc. (NYSE:LAZ) have been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $55.75.

A number of equities analysts have recently issued reports on LAZ shares. Citigroup restated a “market outperform” rating on shares of Lazard in a research note on Friday, January 30th. Bank of America began coverage on shares of Lazard in a research note on Monday, January 26th. They issued a “buy” rating and a $65.00 target price on the stock. Morgan Stanley dropped their price target on shares of Lazard from $61.00 to $59.00 and set an “underweight” rating for the company in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Lazard in a research note on Monday, December 29th. Finally, UBS Group decreased their price objective on Lazard from $59.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th.

Lazard Stock Performance

LAZ opened at $39.22 on Monday. The stock’s 50 day simple moving average is $50.01 and its 200-day simple moving average is $50.70. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.85. The stock has a market cap of $4.38 billion, a PE ratio of 17.99, a P/E/G ratio of 0.31 and a beta of 1.40. Lazard has a 1 year low of $31.97 and a 1 year high of $58.75.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, January 29th. The asset manager reported $0.80 EPS for the quarter, topping the consensus estimate of $0.68 by $0.12. Lazard had a return on equity of 33.04% and a net margin of 7.49%.The firm had revenue of $892.00 million during the quarter, compared to analysts’ expectations of $876.32 million. During the same period last year, the business earned $0.78 earnings per share. Lazard’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Lazard will post 4.24 EPS for the current year.

Lazard Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Monday, February 9th. Lazard’s dividend payout ratio (DPR) is 91.74%.

Insider Buying and Selling at Lazard

In other Lazard news, CEO Christopher Hogbin sold 3,944 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $39.37, for a total transaction of $155,275.28. Following the completion of the transaction, the chief executive officer directly owned 11,829 shares in the company, valued at $465,707.73. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Peter Richard Orszag sold 69,170 shares of Lazard stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $40.76, for a total value of $2,819,369.20. Following the transaction, the chief executive officer directly owned 210,942 shares of the company’s stock, valued at approximately $8,597,995.92. The trade was a 24.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 80,999 shares of company stock worth $3,292,962. 3.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Lazard

A number of hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in Lazard in the fourth quarter valued at about $26,000. Sound Income Strategies LLC increased its holdings in shares of Lazard by 59.5% during the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares in the last quarter. Quest 10 Wealth Builders Inc. acquired a new stake in shares of Lazard during the fourth quarter worth approximately $32,000. IFP Advisors Inc raised its stake in shares of Lazard by 53.5% in the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 224 shares during the last quarter. Finally, Costello Asset Management INC bought a new position in shares of Lazard in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 54.80% of the company’s stock.

Lazard Company Profile

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.