Analysts Set Lazard, Inc. (NYSE:LAZ) Price Target at $53.00

Shares of Lazard, Inc. (NYSE:LAZ - Get Free Report) have been assigned an average rating of "Hold" from the seven analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $53.00.

Several research firms recently issued reports on LAZ. StockNews.com lowered Lazard from a "buy" rating to a "hold" rating in a research report on Monday. The Goldman Sachs Group raised their target price on shares of Lazard from $38.00 to $42.00 and gave the stock a "sell" rating in a report on Friday, July 26th. Wells Fargo & Company started coverage on shares of Lazard in a report on Thursday, September 12th. They set an "equal weight" rating and a $51.00 price target for the company. Keefe, Bruyette & Woods raised their price target on shares of Lazard from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, JMP Securities boosted their price objective on shares of Lazard from $55.00 to $59.00 and gave the company a "market outperform" rating in a research report on Friday, November 1st.

Insiders Place Their Bets

In related news, Chairman Kenneth M. Jacobs sold 86,728 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $50.02, for a total value of $4,338,134.56. Following the sale, the chairman now directly owns 1,640,995 shares of the company's stock, valued at $82,082,569.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Kenneth M. Jacobs sold 86,728 shares of Lazard stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $50.02, for a total transaction of $4,338,134.56. Following the completion of the transaction, the chairman now directly owns 1,640,995 shares of the company's stock, valued at $82,082,569.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Kenneth M. Jacobs sold 87,770 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $48.08, for a total transaction of $4,219,981.60. Following the completion of the sale, the chairman now owns 1,553,225 shares in the company, valued at approximately $74,679,058. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,497 shares of company stock worth $8,658,086. Company insiders own 3.86% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LAZ. Allspring Global Investments Holdings LLC bought a new position in shares of Lazard in the first quarter worth approximately $25,000. Richardson Financial Services Inc. raised its holdings in Lazard by 1,125.0% in the 2nd quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager's stock worth $28,000 after acquiring an additional 675 shares during the last quarter. Continuum Advisory LLC lifted its position in Lazard by 58.9% in the 2nd quarter. Continuum Advisory LLC now owns 890 shares of the asset manager's stock valued at $34,000 after acquiring an additional 330 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Lazard during the 3rd quarter valued at $50,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Lazard in the 2nd quarter worth $87,000. Hedge funds and other institutional investors own 54.80% of the company's stock.

Lazard Price Performance

Shares of LAZ traded up $0.16 during midday trading on Friday, reaching $58.44. The stock had a trading volume of 1,293,968 shares, compared to its average volume of 954,755. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 23.28 and a beta of 1.38. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 2.72. Lazard has a 12-month low of $25.82 and a 12-month high of $61.14. The company's 50-day moving average is $50.81 and its 200 day moving average is $44.98.

Lazard (NYSE:LAZ - Get Free Report) last issued its earnings results on Thursday, October 31st. The asset manager reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.03). Lazard had a return on equity of 42.20% and a net margin of 8.28%. The business had revenue of $646.00 million during the quarter, compared to analysts' expectations of $644.22 million. During the same quarter in the previous year, the business earned $0.10 EPS. Lazard's revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities analysts predict that Lazard will post 2.31 EPS for the current fiscal year.

Lazard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 3.42%. Lazard's dividend payout ratio (DPR) is presently 79.68%.

Lazard Company Profile

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.