The Goldman Sachs Group Issues Pessimistic Forecast for Lazard (NYSE:LAZ) Stock Price

Key Points

• Goldman Sachs cut its price target on Lazard from $46 to $40 and assigned a sell rating, implying about a 5.8% downside from the current share price.
• Analysts are mixed overall with a consensus rating of Hold and a consensus price target of $55, while LAZ trades near $42.48 (12‑month range $31.97–$58.75), showing divergence in expectations.
• Insider selling accelerated this quarter—executives sold 80,999 shares worth about $3.29 million, including CEO Peter Orszag's sale of 69,170 shares that cut his stake by roughly 24.7%.

Lazard (NYSE:LAZ - Get Free Report) had its price target cut by analysts at The Goldman Sachs Group from $46.00 to $40.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "sell" rating on the asset manager's stock. The Goldman Sachs Group's target price would indicate a potential downside of 5.83% from the company's current price.

Several other brokerages have also recently weighed in on LAZ. Wall Street Zen cut shares of Lazard from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. UBS Group cut their target price on shares of Lazard from $59.00 to $48.00 and set a "neutral" rating for the company in a research note on Thursday, March 12th. Zacks Research raised Lazard from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Keefe, Bruyette & Woods raised their price target on Lazard from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Friday, January 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Lazard in a research report on Friday. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Lazard currently has an average rating of "Hold" and a consensus price target of $55.00.

Lazard Price Performance

Shares of NYSE LAZ traded down $0.01 during midday trading on Wednesday, reaching $42.48. 393,079 shares of the company traded hands, compared to its average volume of 1,308,238. Lazard has a 12 month low of $31.97 and a 12 month high of $58.75. The company has a debt-to-equity ratio of 1.85, a quick ratio of 2.28 and a current ratio of 2.28. The stock's 50-day simple moving average is $48.33 and its 200-day simple moving average is $49.93. The firm has a market cap of $4.75 billion, a PE ratio of 19.46, a PEG ratio of 0.32 and a beta of 1.40.

Lazard (NYSE:LAZ - Get Free Report) last posted its earnings results on Friday, January 30th. 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 business had revenue of $892.11 million for the quarter, compared to analyst estimates of $876.32 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts anticipate that Lazard will post 4.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Peter Richard Orszag sold 69,170 shares of the company's stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Hogbin sold 7,885 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $40.37, for a total transaction of $318,317.45. Following the sale, the chief executive officer directly owned 15,773 shares in the company, valued at $636,756.01. This trade represents a 33.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 80,999 shares of company stock worth $3,292,962 over the last quarter. 2.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LAZ. Kestra Advisory Services LLC bought a new stake in shares of Lazard during the fourth quarter worth $26,000. Sound Income Strategies LLC increased its position in Lazard by 59.5% in 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 during the period. IFP Advisors Inc raised its holdings in Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager's stock worth $34,000 after purchasing an additional 224 shares during the last quarter. Quest 10 Wealth Builders Inc. acquired a new position in Lazard during the 4th quarter valued at about $32,000. Finally, Costello Asset Management INC bought a new position in shares of Lazard in the 3rd quarter valued at about $37,000. 54.80% of the stock is currently owned by institutional investors.

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.

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