Lazard, Inc. (NYSE:LAZ - Get Free Report) dropped 8.8% during trading on Tuesday . The company traded as low as $44.72 and last traded at $44.44. Approximately 316,253 shares changed hands during trading, a decline of 69% from the average daily volume of 1,008,019 shares. The stock had previously closed at $48.73.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Lazard from $51.00 to $55.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. UBS Group increased their price target on Lazard from $50.00 to $54.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Morgan Stanley increased their price target on Lazard from $60.00 to $63.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. The Goldman Sachs Group decreased their price target on Lazard from $51.00 to $44.00 and set a "sell" rating on the stock in a report on Wednesday, January 15th. Finally, Wolfe Research lowered Lazard from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Lazard presently has a consensus rating of "Hold" and a consensus price target of $55.33.
Read Our Latest Research Report on Lazard
Lazard Stock Performance
The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 2.72. The business has a 50 day simple moving average of $51.31 and a two-hundred day simple moving average of $51.90. The firm has a market cap of $5.52 billion, a PE ratio of 18.39 and a beta of 1.41.
Lazard (NYSE:LAZ - Get Free Report) last released its earnings results on Thursday, January 30th. The asset manager reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.09. Lazard had a return on equity of 44.58% and a net margin of 8.98%. As a group, equities research analysts forecast that Lazard, Inc. will post 4.24 earnings per share for the current fiscal year.
Lazard Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Monday, February 10th. Lazard's payout ratio is 75.19%.
Insider Transactions at Lazard
In other news, CEO Evan L. Russo sold 25,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $55.32, for a total transaction of $1,383,000.00. Following the transaction, the chief executive officer now owns 163,448 shares of the company's stock, valued at approximately $9,041,943.36. This represents a 13.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.86% of the company's stock.
Hedge Funds Weigh In On Lazard
Hedge funds and other institutional investors have recently made changes to their positions in the company. Lee Danner & Bass Inc. bought a new position in shares of Lazard during the 4th quarter worth $31,000. Hopwood Financial Services Inc. purchased a new position in Lazard in the fourth quarter valued at about $41,000. Berbice Capital Management LLC purchased a new position in Lazard in the fourth quarter valued at about $46,000. NewEdge Advisors LLC grew its stake in Lazard by 54.3% in the fourth quarter. NewEdge Advisors LLC now owns 977 shares of the asset manager's stock valued at $50,000 after purchasing an additional 344 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new position in Lazard in the fourth quarter valued at about $53,000. Institutional investors own 54.80% of the company's stock.
Lazard Company Profile
(
Get Free Report)
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.
See Also
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