Insider Selling: Lazard (NYSE:LAZ) CEO Sells 3,944 Shares of Stock

Lazard, Inc. (NYSE:LAZ) CEO Christopher Hogbin sold 3,944 shares of Lazard stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $39.37, for a total transaction of $155,275.28. Following the sale, the chief executive officer owned 11,829 shares of the company’s stock, valued at approximately $465,707.73. The trade was a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Christopher Hogbin also recently made the following trade(s):

• On Wednesday, March 18th, Christopher Hogbin sold 7,885 shares of Lazard stock. The stock was sold at an average price of $40.37, for a total value of $318,317.45.

Lazard Price Performance

NYSE LAZ traded down $0.03 during mid-day trading on Thursday, hitting $39.86. The stock had a trading volume of 1,375,353 shares, compared to its average volume of 1,696,399. The company has a 50 day simple moving average of $50.26 and a 200 day simple moving average of $50.89. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 0.32 and a beta of 1.40. Lazard, Inc. has a 52-week low of $31.97 and a 52-week high of $58.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.85.

Lazard (NYSE:LAZ) last posted its earnings results on Thursday, January 29th. The asset manager reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The company had revenue of $892.00 million for the quarter, compared to the consensus estimate of $876.32 million. Lazard had a return on equity of 33.04% and a net margin of 7.49%.Lazard’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. Equities analysts forecast that Lazard, Inc. will post 4.24 EPS for the current fiscal year.

Lazard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, February 9th. Lazard’s dividend payout ratio (DPR) is currently 91.74%.

Analysts Set New Price Targets

A number of research analysts have issued reports on LAZ shares. Morgan Stanley reduced their target price on shares of Lazard from $61.00 to $59.00 and set an “underweight” rating on the stock in a report on Tuesday, January 6th. The Goldman Sachs Group decreased their target price on shares of Lazard from $53.00 to $46.00 and set a “sell” rating on the stock in a research report on Thursday, March 12th. Keefe, Bruyette & Woods lifted their target price on shares of Lazard from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lazard in a report on Monday, December 29th. Finally, Citigroup reissued a “market outperform” rating on shares of Lazard in a research note on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.75.

Hedge Funds Weigh In On Lazard

A number of large investors have recently modified their holdings of LAZ. Teza Capital Management LLC lifted its stake in shares of Lazard by 2.4% in the 2nd quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock valued at $387,000 after purchasing an additional 187 shares in the last quarter. Lesa Sroufe & Co grew its holdings in shares of Lazard by 0.4% during the 3rd quarter. Lesa Sroufe & Co now owns 52,836 shares of the asset manager’s stock worth $2,789,000 after purchasing an additional 217 shares during the period. Sound Income Strategies LLC increased its position in Lazard by 59.5% during the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after purchasing an additional 220 shares in the last quarter. IFP Advisors Inc raised its holdings in Lazard by 53.5% in the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after buying an additional 224 shares during the period. Finally, Xponance LLC raised its holdings in Lazard by 3.7% in the fourth quarter. Xponance LLC now owns 6,454 shares of the asset manager’s stock valued at $313,000 after buying an additional 232 shares during the period. 54.80% of the stock is currently owned by hedge funds and other institutional investors.

About Lazard

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.