Key Points
- CEO Christopher Hogbin sold 3,944 shares on March 19 at an average $39.37 (totaling $155,275.28) and had sold 7,885 shares the day before, leaving him with 11,829 shares — a roughly 25% reduction in his position.
- Lazard beat quarterly estimates, reporting $0.80 EPS vs. $0.68 expected and $892 million in revenue (up 11% year-over-year), and it pays a $0.50 quarterly dividend (a 5.0% yield with a 91.74% payout ratio).
- Analyst sentiment is mixed: the consensus rating is Hold with an average target of $55.75, while recent firm notes include Keefe Bruyette & Woods raising its target to $62 and Citi reiterating a market outperform view.
Lazard, Inc. (NYSE:LAZ - Get Free Report) CEO Christopher Hogbin sold 3,944 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $39.37, for a total value of $155,275.28. Following the completion of the sale, the chief executive officer owned 11,829 shares in the company, valued at $465,707.73. This represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Christopher Hogbin also recently made the following trade(s):
- On Wednesday, March 18th, Christopher Hogbin sold 7,885 shares of Lazard stock. The shares were sold at an average price of $40.37, for a total value of $318,317.45.
Lazard Stock Performance
Shares of NYSE LAZ opened at $39.82 on Friday. 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 company has a market capitalization of $4.45 billion, a P/E ratio of 18.27, a P/E/G 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 stock has a 50 day moving average of $50.26 and a 200-day moving average of $50.89.
Lazard (NYSE:LAZ - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $876.32 million. During the same quarter last year, the firm posted $0.78 EPS. The company's quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts predict that Lazard, Inc. will post 4.24 EPS for the current year.
Lazard Dividend Announcement
The business also recently announced 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. The ex-dividend date of this dividend was Monday, February 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.0%. Lazard's payout ratio is presently 91.74%.
Analysts Set New Price Targets
Several research firms recently weighed in on LAZ. Keefe, Bruyette & Woods lifted their price target on Lazard from $59.00 to $62.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Citigroup reiterated a "market outperform" rating on shares of Lazard in a research report on Friday, January 30th. Wall Street Zen cut Lazard from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Lazard in a report on Monday, December 29th. Finally, Zacks Research upgraded shares of Lazard from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $55.75.
View Our Latest Analysis on Lazard
Institutional Trading of Lazard
Hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new position in shares of Lazard during the 4th quarter worth about $26,000. Sound Income Strategies LLC grew its holdings in 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. purchased a new stake in shares of Lazard in the fourth quarter valued at about $32,000. IFP Advisors Inc lifted its position in shares of Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager's stock worth $34,000 after buying an additional 224 shares in the last quarter. Finally, Costello Asset Management INC purchased a new position in Lazard in the third quarter worth $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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