Callahan Advisors LLC Grows Position in Lazard, Inc. (NYSE:LAZ)

Callahan Advisors LLC raised its stake in Lazard, Inc. (NYSE:LAZ - Free Report) by 15.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,965 shares of the asset manager's stock after acquiring an additional 7,151 shares during the quarter. Callahan Advisors LLC's holdings in Lazard were worth $2,727,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Venturi Wealth Management LLC acquired a new position in Lazard in the fourth quarter valued at approximately $108,000. Truist Financial Corp lifted its holdings in Lazard by 3.7% in the fourth quarter. Truist Financial Corp now owns 20,787 shares of the asset manager's stock valued at $1,070,000 after acquiring an additional 750 shares during the period. Monument Capital Management acquired a new position in Lazard in the fourth quarter valued at approximately $2,809,000. Strategic Financial Concepts LLC acquired a new position in Lazard in the fourth quarter valued at approximately $530,000. Finally, Principal Securities Inc. raised its stake in shares of Lazard by 153.5% during the 4th quarter. Principal Securities Inc. now owns 1,569 shares of the asset manager's stock worth $81,000 after buying an additional 950 shares during the period. 54.80% of the stock is owned by institutional investors and hedge funds.

Lazard Price Performance

Shares of LAZ traded down $2.57 during trading hours on Friday, hitting $49.46. 1,206,135 shares of the stock were exchanged, compared to its average volume of 1,038,210. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.24 and a current ratio of 2.24. Lazard, Inc. has a 12-month low of $35.56 and a 12-month high of $61.14. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 18.59 and a beta of 1.41. The stock's 50-day moving average price is $52.03 and its two-hundred day moving average price is $51.61.

Lazard (NYSE:LAZ - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09. Lazard had a return on equity of 44.58% and a net margin of 8.98%. Research analysts expect that Lazard, Inc. will post 4.24 earnings per share for the current year.

Lazard Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Monday, February 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, February 10th. Lazard's payout ratio is currently 75.19%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LAZ. UBS Group upped their target price on Lazard from $50.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Morgan Stanley upped their target price on Lazard from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. JMP Securities upped their target price on Lazard from $55.00 to $59.00 and gave the stock a "market outperform" rating in a research note on Friday, November 1st. The Goldman Sachs Group reduced their target price on Lazard from $51.00 to $44.00 and set a "sell" rating for the company in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company upped their target price on Lazard from $51.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $55.33.

Insider Buying and Selling at Lazard

In other Lazard news, CEO Evan L. Russo sold 35,000 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $53.64, for a total value of $1,877,400.00. Following the completion of the sale, the chief executive officer now directly owns 188,448 shares in the company, valued at $10,108,350.72. This represents a 15.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.86% of the stock is owned by company insiders.

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.