Lazard (NYSE:LAZ) Reaches New 1-Year Low - Here's What Happened

Lazard, Inc. (NYSE:LAZ - Get Free Report)'s stock price reached a new 52-week low on Friday . The company traded as low as $35.43 and last traded at $36.20, with a volume of 49466 shares trading hands. The stock had previously closed at $38.62.

Wall Street Analyst Weigh In

Several analysts have issued reports on LAZ shares. StockNews.com upgraded Lazard from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Morgan Stanley lowered shares of Lazard from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $56.00 to $33.00 in a report on Monday. Wells Fargo & Company lowered their price objective on shares of Lazard from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Tuesday. JMP Securities reduced their target price on Lazard from $60.00 to $55.00 and set a "market outperform" rating for the company in a report on Tuesday. Finally, UBS Group raised their target price on Lazard from $50.00 to $54.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Lazard currently has a consensus rating of "Hold" and a consensus target price of $46.83.

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Lazard Stock Up 6.2 %

The company has a debt-to-equity ratio of 2.72, a current ratio of 2.24 and a quick ratio of 2.24. The business has a 50 day simple moving average of $47.76 and a 200 day simple moving average of $51.01. The stock has a market cap of $4.00 billion, a PE ratio of 13.31 and a beta of 1.27.

Lazard (NYSE:LAZ - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $0.78 EPS for the quarter, beating 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%. On average, equities research analysts forecast that Lazard, Inc. will post 4.24 EPS for the current fiscal year.

Lazard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.00 annualized dividend and a dividend yield of 5.64%. Lazard's dividend payout ratio (DPR) is 75.19%.

Insider Activity

In related news, CEO Evan L. Russo sold 35,000 shares of the business's stock in a transaction that occurred 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 approximately $10,108,350.72. The trade was a 15.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Richard Orszag sold 64,539 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $45.56, for a total value of $2,940,396.84. Following the transaction, the chief executive officer now owns 170,285 shares in the company, valued at approximately $7,758,184.60. This trade represents a 27.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,078 shares of company stock worth $9,120,541. 3.86% of the stock is owned by corporate insiders.

Institutional Trading of Lazard

Several large investors have recently modified their holdings of the company. Lee Danner & Bass Inc. bought a new position in Lazard in the 4th quarter worth $31,000. Hopwood Financial Services Inc. acquired a new position in shares of Lazard during the 4th quarter worth about $41,000. Berbice Capital Management LLC bought a new stake in Lazard during the 4th quarter valued at approximately $46,000. NewEdge Advisors LLC grew its holdings in Lazard by 54.3% in the 4th quarter. NewEdge Advisors LLC now owns 977 shares of the asset manager's stock valued at $50,000 after buying an additional 344 shares during the last quarter. Finally, Roxbury Financial LLC bought a new position in Lazard in the 4th quarter worth approximately $53,000. 54.80% of the stock is owned by institutional investors.

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.