Lazard (LAZ)
Advises on transactions and restructurings while managing securities and merchant-banking funds.
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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
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 24, 2026 | Morgan Stanley | Target | Target: $47 | Target: $44 |
| Jul 9, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $52 | Target: $47 |
| Jun 12, 2026 | Goldman Sachs | Target | Target: $45 | Target: $40 |
| Jun 9, 2026 | UBS | Target | Target: $45 | Target: $44 |
| May 5, 2026 | Argus Research | Reiterate | Rating: —Target: $54 | Target: $52 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.30B · Total debt $2.15B · Total assets $4.36B · Shareholders' equity $914.3M
- Revenue
- $830.2M
- Operating income
- $37.6M
- Net income
- $4.8M
HistoryDividendAnnual yield
| Institutions | 92.90% | 102.70M shares | |
|---|---|---|---|
| 356 holders · as of Jun 30, 2026 | |||
| Insiders | 0.96% | 1.06M shares | |
| 6 holders · as of Aug 26, 2026 | |||
| Other | 6.14% | 6.78M shares | |
| remainder | |||
110.55M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (110.55M in the company's Sep 22, 2026 report, 97.45M elsewhere); stakes use the report.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 10.09% | 11.15M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 8.18% | 9.04M | as of Jun 30, 2026 |
Price T Rowe Associates Inc /MD/Institution | 8.11% | 8.96M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.55% | 6.14M | as of Jun 30, 2026 |
Ariel Investments, LLCInstitution | 5.21% | 5.76M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Peter Richard Orszag | director, officer: CEO & Chairman | −125,000 | $43.52 |
| Mar 19, 2026 | Christopher Hogbin | officer: CEO Asset Management | −3,944 | $39.37 |
| Mar 18, 2026 | Christopher Hogbin | officer: CEO Asset Management | −7,885 | $40.37 |
| Mar 17, 2026 | Peter Richard Orszag | director, officer: CEO & Chairman | −69,170 | $40.76 |
- 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
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lazard | $36.51 | +0.07% | $3.55B | 17.6 | 11.4 | 1.1 | −2.7% |
| Evercore | $265.44 | −1.33% | $10.41B | 15.2 | 13.8 | 2.2 | +19.2% |
| Goldman Sachs | $952.13 | −0.76% | $283.03B | 14.8 | 13.7 | 2.4 | +39.5% |
| Houlihan Lokey | $131.87 | −0.56% | $9.27B | 22.3 | 17.4 | 3.7 | −15.6% |
| PJT Partners | $150.80 | −0.39% | $3.87B | 25.4 | 17.9 | 2.1 | +19.5% |
| Moelis & Company | $59.75 | −1.35% | $4.49B | 21.1 | 17.0 | 2.9 | +12.1% |
| T. Rowe Price | $103.99 | −0.61% | $22.42B | 10.5 | 10.1 | 3.0 | +10.7% |
| AllianceBernstein | $36.24 | −0.36% | $3.39B | 10.8 | 10.0 | 9.9 | +5.1% |
| Median | 15.2 | 13.8 | 2.9 | +12.1% |