O ROURKE & COMPANY Inc Boosts Holdings in Lazard, Inc. (NYSE:LAZ)

O ROURKE & COMPANY Inc lifted its position in shares of Lazard, Inc. (NYSE:LAZ) by 25.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,768 shares of the asset manager’s stock after purchasing an additional 1,957 shares during the period. O ROURKE & COMPANY Inc’s holdings in Lazard were worth $492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Lazard in the first quarter valued at about $25,000. Richardson Financial Services Inc. increased its stake in shares of Lazard by 1,125.0% in the second quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock worth $28,000 after buying an additional 675 shares during the last quarter. Continuum Advisory LLC boosted its stake in Lazard by 58.9% during the 2nd quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 330 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in Lazard during the 3rd quarter worth $50,000. Finally, Redwood Wealth Management Group LLC bought a new position in shares of Lazard during the second quarter worth about $87,000. 54.80% of the stock is currently owned by hedge funds and other institutional investors.

Lazard Price Performance

LAZ traded up $2.46 during trading on Thursday, reaching $53.15. The stock had a trading volume of 601,059 shares, compared to its average volume of 935,500. Lazard, Inc. has a 1-year low of $25.82 and a 1-year high of $54.72. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of -144.86 and a beta of 1.39. The stock has a 50 day moving average of $49.91 and a two-hundred day moving average of $44.15. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 3.60.

Wall Street Analysts Forecast Growth

LAZ has been the subject of several research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $56.00 target price (up previously from $49.00) on shares of Lazard in a research report on Friday, July 26th. UBS Group boosted their price objective on Lazard from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Wells Fargo & Company started coverage on Lazard in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $51.00 target price on the stock. Morgan Stanley upped their price target on shares of Lazard from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Lazard from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.14.

Insider Activity

In other news, Chairman Kenneth M. Jacobs sold 1,999 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $50.01, for a total transaction of $99,969.99. Following the completion of the transaction, the chairman now owns 1,727,723 shares in the company, valued at approximately $86,403,427.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Kenneth M. Jacobs sold 86,728 shares of Lazard stock in a transaction on 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 transaction, the chairman now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Kenneth M. Jacobs sold 1,999 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $50.01, for a total value of $99,969.99. Following the sale, the chairman now directly owns 1,727,723 shares of the company’s stock, valued at approximately $86,403,427.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,497 shares of company stock worth $8,658,086 over the last 90 days. 3.86% of the stock is currently owned by company insiders.

Lazard Profile

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.