Lazard (NYSE:LAZ) Downgraded to Hold Rating by StockNews.com

Lazard (NYSE:LAZ - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Monday.

Several other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Lazard from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday. UBS Group upped their target price on Lazard from $49.00 to $52.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. 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 report on Friday. Morgan Stanley upped their target price on Lazard from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group upped their target price on Lazard from $38.00 to $42.00 and gave the stock a "sell" rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Lazard presently has a consensus rating of "Hold" and a consensus price target of $53.00.

Lazard Trading Down 1.6 %

LAZ stock traded down $0.86 during trading on Monday, reaching $52.45. 1,099,704 shares of the stock traded hands, compared to its average volume of 942,145. The business's 50 day moving average price is $50.13 and its 200-day moving average price is $44.52. Lazard has a 52-week low of $25.82 and a 52-week high of $54.72. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a market capitalization of $5.91 billion, a PE ratio of 20.90 and a beta of 1.37.

Lazard (NYSE:LAZ - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.03). Lazard had a net margin of 8.28% and a return on equity of 46.55%. The firm had revenue of $646.00 million for the quarter, compared to analysts' expectations of $644.22 million. During the same period last year, the firm posted $0.10 EPS. Lazard's revenue was up 21.4% on a year-over-year basis. As a group, sell-side analysts forecast that Lazard will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In other Lazard news, Chairman Kenneth M. Jacobs sold 87,770 shares of the company's stock in a transaction that occurred on 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 sale, the chairman now owns 1,553,225 shares in the company, valued at $74,679,058. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Lazard news, Chairman Kenneth M. Jacobs sold 87,770 shares of the company's stock in a transaction that occurred on 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 sale, the chairman now owns 1,553,225 shares in the company, valued at $74,679,058. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Kenneth M. Jacobs sold 1,999 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $50.01, for a total value of $99,969.99. Following the sale, the chairman now owns 1,727,723 shares in the company, valued at $86,403,427.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,497 shares of company stock worth $8,658,086. 3.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Lazard

Several institutional investors and hedge funds have recently bought and sold shares of LAZ. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lazard during the 1st quarter worth approximately $25,000. Richardson Financial Services Inc. raised its position in shares of Lazard by 1,125.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager's stock worth $28,000 after purchasing an additional 675 shares during the period. Continuum Advisory LLC raised its position in shares of Lazard by 58.9% during the 2nd quarter. Continuum Advisory LLC now owns 890 shares of the asset manager's stock worth $34,000 after purchasing an additional 330 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Lazard during the 3rd quarter worth approximately $50,000. Finally, Redwood Wealth Management Group LLC acquired a new stake in shares of Lazard during the 2nd quarter worth approximately $87,000. Institutional investors and hedge funds own 54.80% of the company's stock.

About Lazard

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.

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