Lazard (NYSE:LAZ) CEO Sells $155,275.28 in Stock

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

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 Stock Performance

Shares of NYSE:LAZ traded down $0.03 during mid-day trading on Thursday, reaching $39.86. 1,375,353 shares of the company traded hands, compared to its average volume of 1,696,399. The firm has a market cap of $4.45 billion, a PE ratio of 18.28, a PEG ratio of 0.32 and a beta of 1.40. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.28 and a quick ratio of 2.28. The company’s 50 day moving average price is $50.26 and its 200-day moving average price is $50.89. Lazard, Inc. has a 52 week low of $31.97 and a 52 week high of $58.75.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, January 29th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.12. Lazard had a return on equity of 33.04% and a net margin of 7.49%.The company had revenue of $892.00 million for the quarter, compared to the consensus estimate of $876.32 million. During the same quarter last year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts expect that Lazard, Inc. will post 4.24 EPS for the current fiscal year.

Lazard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Monday, February 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Monday, February 9th. Lazard’s payout ratio is 91.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Lazard in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Lazard from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. UBS Group cut their target price on Lazard from $59.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. The Goldman Sachs Group decreased their price objective on shares of Lazard from $53.00 to $46.00 and set a “sell” rating for the company in a research note on Thursday, March 12th. Finally, Keefe, Bruyette & Woods boosted their target price on Lazard from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Lazard presently has an average rating of “Hold” and a consensus target price of $55.75.

Institutional Trading of Lazard

Several hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in shares of Lazard during the 4th quarter worth $26,000. Sound Income Strategies LLC increased its holdings in shares of Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of 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 purchasing an additional 224 shares during the period. Quest 10 Wealth Builders Inc. acquired a new stake in shares of Lazard in the fourth quarter valued at about $32,000. Finally, Costello Asset Management INC purchased a new stake in Lazard during the third quarter worth about $37,000. 54.80% of the stock is owned by institutional investors and hedge funds.

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.