Lazard, Inc. (LAZ) to Issue Quarterly Dividend of $0.50 on May 22nd

Lazard, Inc. (NYSE:LAZ) declared a quarterly dividend on Thursday, April 30th. Investors of record on Monday, May 11th will be paid a dividend of 0.50 per share by the asset manager on Friday, May 22nd. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, May 11th.

Lazard has increased its dividend by an average of 0.0%annually over the last three years. Lazard has a payout ratio of 53.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lazard to earn $4.94 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 40.5%.

Lazard Trading Down 6.7%

Shares of LAZ stock opened at $45.27 on Friday. The business’s fifty day moving average price is $45.25 and its 200 day moving average price is $48.97. Lazard has a 1-year low of $38.67 and a 1-year high of $58.75. The firm has a market capitalization of $5.06 billion, a PE ratio of 20.77, a P/E/G ratio of 0.43 and a beta of 1.44. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.28 and a quick ratio of 2.28.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). Lazard had a return on equity of 33.04% and a net margin of 7.49%.The business had revenue of $673.00 million for the quarter, compared to analyst estimates of $707.42 million. During the same period in the prior year, the company earned $0.56 EPS. The company’s revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts forecast that Lazard will post 3.36 EPS for the current fiscal year.

Insider Activity

In related news, CEO Christopher Hogbin sold 7,885 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $40.37, for a total transaction of $318,317.45. Following the transaction, the chief executive officer directly owned 15,773 shares in the company, valued at approximately $636,756.01. This represents a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Richard Orszag sold 69,170 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $40.76, for a total value of $2,819,369.20. Following the transaction, the chief executive officer owned 210,942 shares in the company, valued at $8,597,995.92. This trade represents a 24.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,999 shares of company stock worth $3,292,962 over the last quarter. 0.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lazard

Large investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new position in Lazard during the fourth quarter worth about $26,000. Sound Income Strategies LLC lifted its position in Lazard by 59.5% during the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares during the period. Quest 10 Wealth Builders Inc. purchased a new position in Lazard during the fourth quarter worth about $32,000. IFP Advisors Inc lifted its position in Lazard by 53.5% during the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after buying an additional 224 shares during the period. Finally, Costello Asset Management INC purchased a new position in shares of Lazard in the 3rd quarter worth about $37,000. 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.