Lazard (LAZ)

• Market cap: $4.98B
• 1 day: -1.36%
• 5 days: -7.63%
• 1 month: 3.58%
• 3 months: 14.92%
• 6 months: 37.05%
• Year to date: 52.27%
• 1 year: 96.99%
• 5 years: 45.50%
• 10 years: 14.35%
• Sector: Financials
• Industry: Investment Advice

About: Lazard has a storied history that can be traced back to 1848. The company's revenue is nearly equally split between financial advisory, such as acquisition and restructuring advisory, and asset management. The company's asset management business is primarily equities (over 80% of assets under management), has an international focus, and is geared toward institutional clients. By geography, the company earns approximately 60% of revenue in the Americas, 35% in EMEA, and 5% in Asia-Pacific. Lazard has offices across more than 20 countries and over 3,000 employees.

Employees: 3,291

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

60% more call options, than puts

Call options by funds: $22.8M | Put options by funds: $14.2M

50% more funds holding in top 10

Funds holding in top 10: 2 [Q2] → 3 (+1) [Q3]

28% more capital invested

Capital invested by funds: $3.06B [Q2] → $3.92B (+$868M) [Q3]

28% more first-time investments, than exits

New positions opened: 51 | Existing positions closed: 40

22% more repeat investments, than reductions

Existing positions increased: 93 | Existing positions reduced: 76

4% more funds holding

Funds holding: 255 [Q2] → 266 (+11) [Q3]

1.87% less ownership

Funds ownership: 70.95% [Q2] → 69.08% (-1.87%) [Q3]

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $51 7% downside
• Avg. target: $57 4% upside
• High target: $65 18% upside

6 analyst ratings

• positive: 4 67%
• neutral: 2 33%
• negative: 0 0%

Keefe, Bruyette & Woods Aidan Hall 100% 1-year accuracy 5 / 5 met price target	18% upside $65	Outperform Maintained	1 Nov 2024
JMP Securities Devin Ryan 92% 1-year accuracy 68 / 74 met price target	7% upside $59	Market Outperform Maintained	1 Nov 2024
JMP Securities Devin Ryan 92% 1-year accuracy 68 / 74 met price target	0% upside $55	Market Outperform Maintained	9 Oct 2024
UBS Brennan Hawken 70% 1-year accuracy 28 / 40 met price target	5% downside $52	Neutral Maintained	8 Oct 2024
Morgan Stanley Ryan Kenny 75% 1-year accuracy 9 / 12 met price target	9% upside $60	Overweight Maintained	23 Sept 2024