Epoch Investment Partners Inc. Sells 202,342 Shares of Lazard, Inc. $LAZ

Epoch Investment Partners Inc. cut its stake in shares of Lazard, Inc. (NYSE:LAZ) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,360,866 shares of the asset manager’s stock after selling 202,342 shares during the period. Epoch Investment Partners Inc. owned 1.22% of Lazard worth $57,810,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in shares of Lazard during the fourth quarter worth approximately $26,000. Sound Income Strategies LLC boosted its stake in 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 purchasing an additional 220 shares during the period. Quest 10 Wealth Builders Inc. acquired a new position in Lazard in the 4th quarter valued at $32,000. IFP Advisors Inc increased its position 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 buying an additional 224 shares during the period. Finally, State of Wyoming bought a new position in Lazard during the 2nd quarter worth $38,000. Institutional investors own 54.80% of the company’s stock.

Key Lazard News

Here are the key news stories impacting Lazard this week:

• Positive Sentiment: Lazard expanded its buyback plan while continuing to grow Asset Management revenue and assets under management, which supports the long-term capital return and earnings story. LAZ Stock Down as Q2 Earnings Lag on Higher Costs, Expands Buyback Plan
• Positive Sentiment: The company reiterated a long-term revenue target for Lazard Capital and outlined productivity goals, including higher revenue per managing director, suggesting management is focused on improving margins. Lazard targets $10m per MD by 2028 as it reiterates $500m Lazard CL 2027 revenue plan
• Neutral Sentiment: CEO Peter Orszag said AI should make future deal teams “leaner,” reinforcing the firm’s cost-efficiency push, but the impact on near-term results is still uncertain. Lazard CEO Orszag: AI will lead to ‘leaner’ deal teams with more MDs
• Neutral Sentiment: Lazard declared a quarterly dividend, which may appeal to income investors, but it is not a major fresh catalyst for the stock. Lazard earnings report and conference call
• Negative Sentiment: Q2 earnings missed expectations, with EPS of $0.12 versus estimates around $0.34-$0.42, reflecting pressure from weaker Financial Advisory revenue and higher expenses. Lazard (LAZ) Q2 Earnings Miss Estimates
• Negative Sentiment: Profit fell sharply year over year, with reports pointing to a 91% decline in quarterly profit due to a higher tax rate and volatility in the advisory business, which likely weighed on sentiment. Lazard profit plunges on elevated tax rate, financial advisory volatility
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target on LAZ to $42 and kept a market-perform rating, signaling limited near-term upside. Benzinga report on Lazard price target cut

Analyst Ratings Changes

Several equities analysts recently commented on LAZ shares. Zacks Research upgraded shares of Lazard from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Argus lowered their target price on shares of Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. UBS Group reiterated a “neutral” rating and issued a $44.00 price target on shares of Lazard in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods dropped their price target on shares of Lazard from $44.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday. Finally, Citigroup reiterated a “market outperform” rating on shares of Lazard in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.38.

Lazard Trading Up 2.7%

LAZ opened at $44.21 on Friday. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 21.67, a P/E/G ratio of 0.64 and a beta of 1.43. The company has a quick ratio of 3.51, a current ratio of 2.84 and a debt-to-equity ratio of 1.87. Lazard, Inc. has a twelve month low of $38.67 and a twelve month high of $58.75. The company has a 50-day simple moving average of $44.24 and a 200 day simple moving average of $46.78.

Lazard (NYSE:LAZ) last released its earnings results on Thursday, July 23rd. The asset manager reported $0.12 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.22). The firm had revenue of $786.02 million during the quarter, compared to the consensus estimate of $736.29 million. Lazard had a net margin of 6.95% and a return on equity of 23.58%. Lazard’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Analysts predict that Lazard, Inc. will post 2.63 EPS for the current fiscal year.

Lazard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, August 3rd. Lazard’s dividend payout ratio (DPR) is 79.05%.

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.