Lazard Ltd (NYSE:LAZ) CAO Dominick Ragone sold 4,293 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.62, for a total value of $165,795.66. The transaction was disclosed in a filing with the SEC, which is available at this link.
LAZ traded down $0.10 during trading on Tuesday, reaching $38.45. The company had a trading volume of 628,277 shares, compared to its average volume of 869,338. The stock has a market cap of $4.34 billion, a P/E ratio of 9.24 and a beta of 1.73. The business has a 50 day simple moving average of $36.58 and a 200-day simple moving average of $35.63. Lazard Ltd has a 52 week low of $31.07 and a 52 week high of $41.76. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 3.40.
Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The company had revenue of $588.00 million during the quarter, compared to the consensus estimate of $612.98 million. Lazard had a return on equity of 50.66% and a net margin of 12.29%. Lazard’s revenue was down 3.0% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. As a group, equities research analysts expect that Lazard Ltd will post 3.15 EPS for the current fiscal year.
LAZ has been the subject of a number of research reports. Buckingham Research lowered their target price on 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 Lazard from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating and set a $40.00 target price for the company in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.80.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Copeland Capital Management LLC bought a new stake in Lazard in the third quarter worth $279,000. AMG National Trust Bank bought a new stake in Lazard in the third quarter worth $2,258,000. Greystone Managed Investments Inc. lifted its position in Lazard by 18.7% in the third quarter. Greystone Managed Investments Inc. now owns 97,946 shares of the asset manager’s stock worth $3,428,000 after buying an additional 15,420 shares during the last quarter. Morse Asset Management Inc bought a new stake in Lazard in the third quarter worth $1,109,000. Finally, Adirondack Research & Management Inc. bought a new stake in Lazard in the third quarter worth $1,983,000. Institutional investors own 77.77% of the company’s stock.
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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