Lazard (NYSE:LAZ) Shares Gap Down – Should You Sell?

Lazard, Inc. (NYSE:LAZ) shares gapped down before the market opened on Monday . The stock had previously closed at $48.93, but opened at $45.68. Lazard shares last traded at $47.5060, with a volume of 23,552 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Lazard from $40.00 to $45.00 and gave the company a “sell” rating in a research note on Tuesday, April 14th. UBS Group lowered their price objective on shares of Lazard from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Argus dropped their price objective on shares of Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Wall Street Zen downgraded shares of Lazard from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Citigroup restated an “outperform” rating on shares of Lazard in a research note on Friday, April 10th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lazard has an average rating of “Hold” and a consensus price target of $52.56.

Lazard Stock Down 0.5%

The company has a debt-to-equity ratio of 1.94, a quick ratio of 3.51 and a current ratio of 3.51. The firm has a fifty day moving average price of $45.51 and a 200 day moving average price of $48.63. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 0.51 and a beta of 1.41.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). The business had revenue of $672.98 million for the quarter, compared to analyst estimates of $707.42 million. Lazard had a return on equity of 29.30% and a net margin of 8.47%.The company’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 EPS. As a group, sell-side analysts expect that Lazard, Inc. will post 2.85 EPS for the current fiscal year.

Lazard Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 11th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.2%. Lazard’s dividend payout ratio is 79.05%.

Insider Transactions at Lazard

In other Lazard news, CEO Peter Richard Orszag sold 69,170 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $40.76, for a total transaction of $2,819,369.20. Following the transaction, the chief executive officer directly owned 210,942 shares in the company, valued at approximately $8,597,995.92. This represents a 24.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher Hogbin sold 7,885 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $40.37, for a total transaction of $318,317.45. Following the completion of the transaction, the chief executive officer directly owned 15,773 shares of the company’s stock, valued at approximately $636,756.01. This trade represents a 33.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,999 shares of company stock valued at $3,292,962 in the last quarter. Insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Lazard

Several institutional investors have recently modified their holdings of LAZ. Teza Capital Management LLC grew its holdings in shares of Lazard by 2.4% in the 2nd quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock worth $387,000 after acquiring an additional 187 shares during the period. Sound Income Strategies LLC boosted its position in Lazard by 59.5% during the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after purchasing an additional 220 shares in the last quarter. IFP Advisors Inc grew its holdings in 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 last quarter. Xponance LLC increased its position in shares of Lazard by 3.7% in the fourth quarter. Xponance LLC now owns 6,454 shares of the asset manager’s stock valued at $313,000 after buying an additional 232 shares in the last quarter. Finally, Oliver Luxxe Assets LLC increased its position in shares of Lazard by 0.5% in the fourth quarter. Oliver Luxxe Assets LLC now owns 47,628 shares of the asset manager’s stock valued at $2,313,000 after buying an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Lazard Company Profile

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.