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LAZ · NYSE · Financial - Capital Markets

Lazard

Advises on transactions and restructurings while managing securities and merchant-banking funds.

$43.64
After-hours close−0.03 (−0.07%)
At close$43.67(+1.04%)
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Profile

Lazard LtdLAZFinancials

Provides financial advice on transactions and restructurings while managing securities and merchant-banking funds. The business is organized into Financial Advisory and Asset Management, drawing on locally embedded teams and global resources.

Financial Advisory advises companies, governments, and other clients on mergers and acquisitions, restructurings, and other financial matters. Asset Management manages securities and merchant-banking funds, giving the firm two reported business segments.

Rooted in the former U.S., French, and U.K. Houses of Lazard, the firm combines locally embedded market teams with global resources and perspective. Its offices developed across New York, Paris, and London before the Houses reunited in 2000.

The public parent became a Delaware corporation in 2024, when Lazard Ltd converted to Lazard, Inc. Shares have traded on the NYSE since 2005.

Company facts

CEOPeter R. Orszag
ListedMay 5, 2005
ExchangeNYSE
HeadquartersNew York, NY
CountryBermuda
Employees3,309
CIK0001311370
ISINUS52110M1099

Categories

Key statistics

Market cap$4.25B
EPS (ttm)$2.07
P/E (ttm)21.03
ROE25.8%
P/B4.84
P/S1.29
Dividend yield4.58%
Beta1.83vs XLF 0.96

Year to date −12.2% · Average volume (30d) 1.6M

Analysts

Price target, next 12 months$44.00+0.8%Median of 29 analysts · vs the Aug 28 close
ConsensusBuy13 of 29 analysts rate it buy or better

Ratings

Target range

Latest analyst notes

DateFirmActionPrior ratingRatingPrior targetTarget
Jul 24, 2026Morgan StanleyTarget$47$44
Jul 9, 2026Morgan StanleyReiterateUnderweight$52$47
Jun 12, 2026Goldman SachsTarget$45$40
Jun 9, 2026UBSTarget$45$44
May 5, 2026Argus ResearchReiterateBuy$54$52

Earnings

EPS

Estimate$0.60
ReportedDue Oct 22, 2026

Revenue

Estimate$841.8M
ReportedDue Oct 22, 2026

History

Report dateEPS estEPSSurpriseRevenue estRevenueSurpriseNext session
Jul 23, 2026Q2 FY26$0.34$0.12−64.5%$736.3M$786.5M+6.8%+3.02%
May 1, 2026Q1 FY26$0.52$0.42−19.2%$707.4M$673.0M−4.9%−3.04%
Jan 29, 2026Q4 FY25$0.68$0.80+17.6%$821.7M$906.7M+10.3%−0.13%
Oct 23, 2025Q3 FY25$0.44$0.56+26.0%$726.2M$782.4M+7.7%+0.18%
View details

Financial highlights

12 quartersQ1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$657.5M$808.0M$763.1M$929.4M$771.6M$830.2M
Gross profit$227.2M$288.7M$264.9M$203.6M$279.7M$807.7M
Operating income$54.6M$93.1M$94.9M$107.6M$104.6M$37.6M
Net income$60.4M$55.3M$71.2M$49.9M$100.9M$4.8M
Diluted EPS$0.56$0.52$0.67$0.45$0.91$0.04
Gross margin34.6%35.7%34.7%21.9%36.2%97.3%
Operating margin8.3%11.5%12.4%11.6%13.6%4.5%

Fiscal years (4-quarter sums)FY21 $3.27B · FY22 $2.83B · FY23 $2.55B · FY24 $3.09B · FY25 $3.16B

Revenue by product · Q2 FY26

Financial Advisory Fees$448.2M · 57%
Asset Management$334.9M · 43%

Revenue by geography · FY25

Americas$1.62B · 52%
EMEA$1.30B · 42%
Asia Pacific$180.7M · 6%

Balance sheet, Jun 30, 2026Cash & short-term investments $1.30B · Total debt $2.15B · Total assets $4.36B · Shareholders' equity $914.3M

Dividends

Next ex-date
Nov 3, 2026
estimated · in 66 days
Annual dividend
$2.00
per share
Dividend yield
4.58%
Schedule
Quarterly
4 payments a year

Raised for 19 straight years — most recently to $0.50 from $0.47 in Aug 2022. To collect a payout, hold shares through the close before the ex-date.

History

Ex-dateRecordPaidAmountNote
Aug 3, 2026Aug 3Aug 14$0.50
May 11, 2026May 11May 22$0.50
Feb 9, 2026Feb 9Feb 20$0.50
Nov 3, 2025Nov 3Nov 14$0.50
Aug 4, 2025Aug 4Aug 15$0.50
May 5, 2025May 5May 16$0.50
Feb 10, 2025Feb 10Feb 21$0.50
Nov 8, 2024Nov 8Nov 15$0.50
View details

Ownership

Institutions 109.95%Insiders 0.69%

A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.

Shares outstanding 97.45M · Float 96.58M · 99.1% free float

Top shareholders13F · 13D/G · Form 4

HolderShares% outstandingFormFiled
FMR LLC11.15M11.44%13FAug 13, 2026
T. Rowe Price Associates, Inc.9.60M8.60%13GMay 15, 2026
BlackRock, Inc.9.04M9.28%13FAug 7, 2026
Price T Rowe Associates Inc /MD/8.96M9.20%13FAug 14, 2026
Vanguard Portfolio Management LLC6.14M6.30%13FAug 13, 2026

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Aug 25, 2026Peter Richard Orszagdirector, officer: CEO & Chairman−125,000$43.52
Mar 19, 2026Christopher Hogbinofficer: CEO Asset Management−3,944$39.37
Mar 18, 2026Christopher Hogbinofficer: CEO Asset Management−7,885$40.37
Mar 17, 2026Peter Richard Orszagdirector, officer: CEO & Chairman−69,170$40.76
Sep 16, 2025Peter Richard Orszagdirector, officer: CEO & Chairman−32,475$54.09
View details

Peers

  • Evercore

    Independent advisory overlap in M&A, strategic work, and restructuring

  • Goldman Sachs

    Global bank overlap in major advisory mandates and asset management

  • Houlihan Lokey

    Independent-bank overlap in M&A, restructuring, and valuation advisory

  • PJT Partners

    Independent-advisory overlap in strategic transactions and restructurings

  • Moelis & Company

    Global independent-bank overlap in strategic and financial advisory

  • T. Rowe Price

    Active-management overlap across institutional and retirement clients

  • AllianceBernstein

    Active-manager overlap in institutional, retail, and private-wealth mandates

CompareAfter-hours close

CompanyPriceChange
Lazard$43.64−0.07%$4.25B21.013.71.3−2.7%
Evercore$293.00+1.00%$11.22B16.415.12.4+19.2%
Goldman Sachs$1,033.62+0.05%$305.03B16.014.82.6+39.5%
Houlihan Lokey$133.020.00%$9.30B22.417.53.7−15.6%
PJT Partners$182.80−0.05%$4.67B30.721.82.5+19.5%
Moelis & Company$68.40+0.02%$5.07B23.819.53.2+12.1%
T. Rowe Price$111.60+0.32%$23.84B11.210.83.1+10.7%
AllianceBernstein$36.71−0.41%$3.43B10.910.110.0+5.1%
Median16.415.13.1+12.1%