Goldman Sachs Group assumed coverage on shares of Lazard (NYSE:LAZ) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $46.00 target price on the asset manager’s stock.
Several other equities research analysts also recently weighed in on LAZ. Buckingham Research decreased their price target on Lazard from $64.00 to $52.00 and set a neutral rating for the company in a report on Friday, October 26th. Zacks Investment Research raised Lazard from a hold rating to a buy rating and set a $60.00 price target for the company in a report on Tuesday, July 31st. TheStreet downgraded Lazard from a b rating to a c+ rating in a report on Friday, July 27th. Wolfe Research assumed coverage on Lazard in a report on Tuesday, September 25th. They set a market perform rating for the company. Finally, ValuEngine downgraded Lazard from a hold rating to a sell rating in a report on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Lazard has an average rating of Hold and a consensus price target of $57.75.
Shares of NYSE LAZ traded down $1.38 during mid-day trading on Tuesday, hitting $40.32. 625,757 shares of the company were exchanged, compared to its average volume of 1,208,890. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.83 and a quick ratio of 1.83. Lazard has a 1-year low of $37.75 and a 1-year high of $60.00. The company has a market cap of $5.42 billion, a PE ratio of 10.67, a P/E/G ratio of 1.19 and a beta of 1.86.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Friday, November 2nd. Lazard’s dividend payout ratio (DPR) is currently 46.56%.
Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Lazard in the second quarter valued at $130,000. Contravisory Investment Management Inc. acquired a new stake in Lazard in the second quarter valued at $134,000. Truvestments Capital LLC acquired a new stake in Lazard in the third quarter valued at $146,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Lazard in the second quarter valued at $208,000. Finally, Foster & Motley Inc. acquired a new stake in Lazard in the third quarter valued at $261,000. 71.59% of the stock is owned by institutional investors.
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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