O ROURKE & COMPANY Inc Has $492,000 Position in Lazard, Inc. (NYSE:LAZ)

O ROURKE & COMPANY Inc raised its stake in Lazard, Inc. (NYSE:LAZ) by 25.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,768 shares of the asset manager’s stock after purchasing an additional 1,957 shares during the quarter. O ROURKE & COMPANY Inc’s holdings in Lazard were worth $492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LAZ. Allspring Global Investments Holdings LLC acquired a new position in shares of Lazard in the first quarter worth $25,000. Richardson Financial Services Inc. grew its stake in Lazard by 1,125.0% in the second quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 675 shares in the last quarter. Continuum Advisory LLC grew its stake in Lazard by 58.9% in the second quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 330 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Lazard in the 3rd quarter worth about $50,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in shares of Lazard during the 2nd quarter worth about $87,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Insider Buying and Selling at Lazard

In related news, Chairman Kenneth M. Jacobs sold 87,770 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $48.08, for a total transaction of $4,219,981.60. Following the completion of the transaction, the chairman now directly owns 1,553,225 shares in the company, valued at $74,679,058. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Kenneth M. Jacobs sold 87,770 shares of Lazard stock in a transaction dated 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 directly owns 1,553,225 shares of the company’s stock, valued at $74,679,058. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kenneth M. Jacobs sold 86,728 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $50.02, for a total value of $4,338,134.56. Following the completion of the transaction, the chairman now directly owns 1,640,995 shares of the company’s stock, valued at approximately $82,082,569.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 176,497 shares of company stock valued at $8,658,086 in the last 90 days. 3.86% of the stock is currently owned by insiders.

Lazard Stock Performance

Shares of Lazard stock traded up $2.46 during trading on Thursday, reaching $53.15. The company’s stock had a trading volume of 601,059 shares, compared to its average volume of 935,500. Lazard, Inc. has a one year low of $25.82 and a one year high of $54.72. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.94 and a current ratio of 1.94. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of -144.86 and a beta of 1.39. The business’s fifty day moving average price is $49.91 and its 200-day moving average price is $44.15.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LAZ. Wells Fargo & Company assumed coverage on Lazard in a report on Thursday, September 12th. They issued an “equal weight” rating and a $51.00 price objective on the stock. JMP Securities raised their price target on shares of Lazard from $52.00 to $55.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. UBS Group upped their price objective on shares of Lazard from $49.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Morgan Stanley increased their target price on shares of Lazard from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, StockNews.com raised Lazard from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.14.

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.