Lazard (LAZ)

• Market cap: $4.63B
• 1 day: 2.94%
• 5 days: 10.28%
• 1 month: -3.01%
• 3 months: -4.55%
• 6 months: 12.44%
• Year to date: 0.81%
• 1 year: 33.55%
• 5 years: 15.62%
• 10 years: 15.49%
• 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]

44% more first-time investments, than exits

New positions opened: 52 | Existing positions closed: 36

28% more capital invested

Capital invested by funds: $3.07B [Q2] → $3.94B (+$865M) [Q3]

24% more repeat investments, than reductions

Existing positions increased: 94 | Existing positions reduced: 76

5% more funds holding

Funds holding: 255 [Q2] → 269 (+14) [Q3]

2.02% less ownership

Funds ownership: 71.37% [Q2] → 69.36% (-2.02%) [Q3]

Research analyst outlook

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

• Low target: $44 14% downside
• Avg. target: $54 5% upside
• High target: $63 23% upside

5 analyst ratings

• positive: 1 20%
• neutral: 3 60%
• negative: 1 20%

Goldman Sachs Richard Ramsden 83% 1-year accuracy 10 / 12 met price target	14% downside $44	Sell Maintained	15 Jan 2025
Wells Fargo Michael Brown 74% 1-year accuracy 32 / 43 met price target	0% downside $51	Equal-Weight Maintained	14 Jan 2025
Keefe, Bruyette & Woods Aidan Hall 93% 1-year accuracy 13 / 14 met price target	2% upside $52	Market Perform Maintained	13 Jan 2025
Morgan Stanley Ryan Kenny 57% 1-year accuracy 8 / 14 met price target	23% upside $63	Equal-Weight Downgraded	9 Dec 2024
JMP Securities Devin Ryan 90% 1-year accuracy 61 / 68 met price target	15% upside $59	Market Outperform Maintained	1 Nov 2024