Lazard Ltd (NYSE:LAZ) CAO Scott D. Hoffman sold 40,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $38.25, for a total transaction of $1,530,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of LAZ opened at $37.76 on Thursday. Lazard Ltd has a twelve month low of $31.07 and a twelve month high of $41.76. The company has a market cap of $4.34 billion, a P/E ratio of 9.08 and a beta of 1.73. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 3.40. The company’s fifty day simple moving average is $36.64 and its 200-day simple moving average is $35.63.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, October 31st. The asset manager reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. Lazard had a net margin of 12.29% and a return on equity of 50.66%. The business had revenue of $588.00 million for the quarter, compared to the consensus estimate of $612.98 million. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts predict that Lazard Ltd will post 3.15 earnings per share for the current fiscal year.
LAZ has been the subject of several research reports. Buckingham Research lowered their price objective on shares of Lazard from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. ValuEngine upgraded shares of Lazard from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research raised shares of Lazard from a “sell” rating to a “hold” rating and set a $40.00 target price on the stock in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Lazard currently has an average rating of “Hold” and a consensus price target of $38.80.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Lazard by 11.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,638,704 shares of the asset manager’s stock valued at $228,305,000 after acquiring an additional 698,677 shares during the period. JPMorgan Chase & Co. increased its stake in Lazard by 56.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,130,116 shares of the asset manager’s stock worth $107,394,000 after buying an additional 1,125,817 shares during the period. RWC Asset Management LLP increased its stake in Lazard by 36.1% in the 2nd quarter. RWC Asset Management LLP now owns 1,967,570 shares of the asset manager’s stock worth $67,664,000 after buying an additional 522,202 shares during the period. Invesco Ltd. increased its stake in Lazard by 16.4% in the 2nd quarter. Invesco Ltd. now owns 1,334,557 shares of the asset manager’s stock worth $45,896,000 after buying an additional 188,236 shares during the period. Finally, Strs Ohio increased its stake in Lazard by 2.3% in the 2nd quarter. Strs Ohio now owns 1,239,000 shares of the asset manager’s stock worth $42,609,000 after buying an additional 28,000 shares during the period. 77.77% of the stock is currently owned by institutional investors and hedge funds.
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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