Lazard (NYSE:LAZ) Hits New 1-Year High – Time to Buy?

Lazard, Inc. (NYSE:LAZ)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $54.65 and last traded at $54.63, with a volume of 2777 shares traded. The stock had previously closed at $54.30.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LAZ shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $56.00 price target (up previously from $49.00) on shares of Lazard in a research note on Friday, July 26th. StockNews.com raised Lazard from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Wells Fargo & Company began coverage on Lazard in a research note on Thursday, September 12th. They set an “equal weight” rating and a $51.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Lazard from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Friday, July 26th. Finally, UBS Group boosted their target price on shares of Lazard from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.14.

Lazard Stock Up 0.0 %

The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 3.60. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of -155.83 and a beta of 1.39. The firm’s 50 day moving average is $48.84 and its two-hundred day moving average is $43.34.

Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, July 25th. The asset manager reported $0.52 EPS for the quarter, beating the consensus estimate of $0.35 by $0.17. The company had revenue of $685.30 million during the quarter, compared to analysts’ expectations of $625.40 million. Lazard had a return on equity of 41.78% and a net margin of 5.50%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. On average, sell-side analysts predict that Lazard, Inc. will post 2.43 EPS for the current year.

Lazard Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Monday, August 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Monday, August 5th. Lazard’s dividend payout ratio (DPR) is -571.43%.

Insider Buying and Selling at Lazard

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

Hedge Funds Weigh In On Lazard

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new position in Lazard during the 1st quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its position in Lazard by 1,125.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock worth $28,000 after acquiring an additional 675 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Lazard by 58.9% in the 2nd 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. Redwood Wealth Management Group LLC acquired a new position in shares of Lazard in the 2nd quarter valued at approximately $87,000. Finally, LWM Advisory Services LLC acquired a new position in shares of Lazard in the 2nd quarter valued at approximately $88,000. 54.80% of the stock is owned by institutional investors and hedge funds.

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.