Key Points
- CEO Peter Richard Orszag sold 69,170 shares on March 17 at an average price of $40.76 for a total of $2,819,369.20, trimming his stake by 24.69% to 210,942 shares (≈$8.6M).
- Lazard recently paid a quarterly dividend of $0.50 (annualized $2.00) representing a 5.0% yield and a high payout ratio of 91.74%.
- The company beat the quarter with $0.80 EPS vs. $0.68 expected and $892M revenue, but analysts are mixed—consensus rating is "Hold" with a $55.75 target amid varied price‑target changes.
Lazard, Inc. (NYSE:LAZ - Get Free Report) CEO Peter Richard Orszag sold 69,170 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $40.76, for a total value of $2,819,369.20. Following the completion of the transaction, the chief executive officer owned 210,942 shares in the company, valued at $8,597,995.92. The trade was a 24.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Lazard Stock Performance
Shares of LAZ opened at $39.86 on Thursday. The stock has a 50 day moving average of $50.48 and a 200 day moving average of $50.97. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 0.32 and a beta of 1.40. Lazard, Inc. has a 12 month low of $31.97 and a 12 month high of $58.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.85.
Lazard (NYSE:LAZ - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $0.80 earnings per share 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 business had revenue of $892.00 million for the quarter, compared to analysts' expectations of $876.32 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business's revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Lazard, Inc. will post 4.24 earnings per share for the current year.
Lazard Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, February 9th. Lazard's dividend payout ratio (DPR) is 91.74%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on LAZ. The Goldman Sachs Group dropped their price objective on Lazard from $53.00 to $46.00 and set a "sell" rating on the stock in a research note on Thursday, March 12th. Weiss Ratings restated a "hold (c)" rating on shares of Lazard in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on shares of Lazard from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Wall Street Zen lowered shares of Lazard from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Finally, UBS Group reduced their target price on shares of Lazard from $59.00 to $48.00 and set a "neutral" rating for the company in a research note on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $55.75.
Read Our Latest Stock Report on Lazard
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in Lazard during the 4th quarter valued at about $26,000. Sound Income Strategies LLC lifted its holdings in shares of Lazard by 59.5% in 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. bought a new position in shares of Lazard in the fourth quarter valued at approximately $32,000. IFP Advisors Inc boosted its position 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 period. Finally, Costello Asset Management INC purchased a new position in Lazard during the third quarter valued at approximately $37,000. Institutional investors own 54.80% of the company's stock.
About Lazard
(
Get Free Report)
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.
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