Christopher Hogbin Sells 3,944 Shares of Lazard (NYSE:LAZ) Stock

Lazard, Inc. (NYSE:LAZ) CEO Christopher Hogbin sold 3,944 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $39.37, for a total transaction of $155,275.28. Following the completion of the transaction, the chief executive officer directly owned 11,829 shares of the company’s stock, valued at approximately $465,707.73. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 transaction of $318,317.45.

Lazard Price Performance

LAZ opened at $39.22 on Friday. 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 stock has a market capitalization of $4.38 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 0.32 and a beta of 1.40. The company’s 50 day simple moving average is $50.01 and its 200-day simple moving average is $50.77. Lazard, Inc. has a one year low of $31.97 and a one year high of $58.75.

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

Lazard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 9th were given a dividend of $0.50 per share. The ex-dividend date was Monday, February 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.1%. Lazard’s payout ratio is presently 91.74%.

Analyst Ratings Changes

Several equities analysts recently issued reports on LAZ shares. UBS Group decreased their price target on Lazard from $59.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Bank of America started coverage on Lazard in a report on Monday, January 26th. They set a “buy” rating and a $65.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Lazard in a research report on Friday, January 30th. Wall Street Zen lowered shares of Lazard from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, The Goldman Sachs Group dropped their price target 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. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.75.

Hedge Funds Weigh In On Lazard

Several hedge funds have recently added to or reduced their stakes in LAZ. Kestra Advisory Services LLC acquired a new position in shares of Lazard during the 4th quarter worth about $26,000. Sound Income Strategies LLC increased its stake 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 acquiring an additional 220 shares during the last quarter. IFP Advisors Inc raised its position in shares of Lazard by 53.5% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 224 shares during the period. Quest 10 Wealth Builders Inc. bought a new position in Lazard during the 4th quarter worth approximately $32,000. Finally, Costello Asset Management INC bought a new position in Lazard during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds own 54.80% of the company’s stock.

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.