California Public Employees Retirement System Grows Position in Lazard, Inc. $LAZ

California Public Employees Retirement System raised its holdings in Lazard, Inc. (NYSE:LAZ) by 9.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 203,468 shares of the asset manager’s stock after acquiring an additional 17,634 shares during the quarter. California Public Employees Retirement System owned 0.18% of Lazard worth $8,643,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Teza Capital Management LLC increased its holdings in shares of Lazard by 2.4% during the 2nd quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock worth $387,000 after buying an additional 187 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares during the period. IFP Advisors Inc boosted its holdings in 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. Xponance LLC grew its position in Lazard by 3.7% during the fourth quarter. Xponance LLC now owns 6,454 shares of the asset manager’s stock valued at $313,000 after acquiring an additional 232 shares during the period. Finally, Bleakley Financial Group LLC increased its stake in Lazard by 2.7% during the first quarter. Bleakley Financial Group LLC now owns 11,111 shares of the asset manager’s stock worth $472,000 after acquiring an additional 289 shares during the last quarter. 54.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LAZ shares. The Goldman Sachs Group restated a “sell” rating on shares of Lazard in a report on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of Lazard from $44.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday. Citizens Jmp cut their price target on shares of Lazard from $65.00 to $60.00 and set a “market outperform” rating on the stock in a report on Friday, April 10th. Zacks Research raised shares of Lazard from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Argus decreased their price objective on shares of Lazard from $63.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Lazard has a consensus rating of “Hold” and a consensus target price of $50.38.

Lazard News Summary

Here are the key news stories impacting Lazard this week:

• Positive Sentiment: Lazard expanded its buyback plan while continuing to grow Asset Management revenue and assets under management, which supports the long-term capital return and earnings story. LAZ Stock Down as Q2 Earnings Lag on Higher Costs, Expands Buyback Plan
• Positive Sentiment: The company reiterated a long-term revenue target for Lazard Capital and outlined productivity goals, including higher revenue per managing director, suggesting management is focused on improving margins. Lazard targets $10m per MD by 2028 as it reiterates $500m Lazard CL 2027 revenue plan
• Neutral Sentiment: CEO Peter Orszag said AI should make future deal teams “leaner,” reinforcing the firm’s cost-efficiency push, but the impact on near-term results is still uncertain. Lazard CEO Orszag: AI will lead to ‘leaner’ deal teams with more MDs
• Neutral Sentiment: Lazard declared a quarterly dividend, which may appeal to income investors, but it is not a major fresh catalyst for the stock. Lazard earnings report and conference call
• Negative Sentiment: Q2 earnings missed expectations, with EPS of $0.12 versus estimates around $0.34-$0.42, reflecting pressure from weaker Financial Advisory revenue and higher expenses. Lazard (LAZ) Q2 Earnings Miss Estimates
• Negative Sentiment: Profit fell sharply year over year, with reports pointing to a 91% decline in quarterly profit due to a higher tax rate and volatility in the advisory business, which likely weighed on sentiment. Lazard profit plunges on elevated tax rate, financial advisory volatility
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target on LAZ to $42 and kept a market-perform rating, signaling limited near-term upside. Benzinga report on Lazard price target cut

Lazard Trading Up 2.7%

NYSE:LAZ opened at $44.21 on Friday. The business’s 50-day moving average is $44.24 and its two-hundred day moving average is $46.78. The firm has a market capitalization of $4.94 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 0.65 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 3.51.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, July 23rd. The asset manager reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.22). Lazard had a return on equity of 23.58% and a net margin of 6.95%.The company had revenue of $786.02 million during the quarter, compared to analysts’ expectations of $736.29 million. During the same period in the previous year, the company earned $0.52 EPS. Lazard’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts predict that Lazard, Inc. will post 2.45 earnings per share for the current fiscal year.

Lazard Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.00 annualized dividend and a yield of 4.5%. Lazard’s payout ratio is 98.04%.

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.