Welcome to our dedicated page for Lazard news (Ticker: LAZ), a resource for investors and traders seeking the latest updates and insights on Lazard stock.
Lazard, Inc. (symbol: LAZ) is one of the world’s leading financial advisory and asset management firms. With a history that dates back to 1848, Lazard operates in 43 cities across 27 countries, including North America, Europe, Asia, Australia, Central, and South America. The firm's global presence and long-standing reputation make it a significant player in the financial services industry.
Lazard offers a wide array of services, including advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance. The company also provides comprehensive asset management services to corporations, partnerships, institutions, governments, and individuals. Notably, the firm’s revenue is nearly evenly split between financial advisory and asset management, with a strong emphasis on international equities in their asset management division.
The company's asset management business, which constitutes over 80% of its assets under management, is primarily focused on institutional clients. Geographically, Lazard generates approximately 60% of its revenue from the Americas, 35% from the EMEA region, and 5% from the Asia-Pacific.
With over 3,000 employees worldwide, Lazard continues to thrive by leveraging its deep industry expertise and global network. The firm's current projects and partnerships demonstrate its ongoing commitment to delivering high-value financial solutions. For the latest updates and relevant information about Lazard’s performance, events, and developments, you can follow their social media disclosures.
Lazard (NYSE: LAZ) reported its preliminary assets under management (AUM) for July 2024, totaling approximately $246.1 billion. The month's AUM included net outflows of $3.6 billion, market appreciation of $3.5 billion, and foreign exchange appreciation of $1.5 billion. The breakdown of AUM as of July 31, 2024, was:
- Equity: $192,176 million
- Fixed Income: $45,775 million
- Other: $8,153 million
Compared to June 30, 2024, total AUM increased from $244,670 million to $246,104 million.
Lazard (NYSE: LAZ) reported second-quarter and first-half 2024 results, with net revenue of $685 million for Q2 and $1,450 million for H1. Financial Advisory achieved record first-half adjusted net revenue of $855 million, up 38% year-over-year. Asset Management reported quarter-end AUM of $245 billion. Q2 adjusted net income was $53 million or $0.52 per share, while H1 adjusted net income reached $119 million or $1.17 per share. The company is investing in talent to support long-term growth. Lazard returned $192 million to shareholders in H1 2024 through dividends and share repurchases. The Board authorized an additional $200 million share repurchase program.
Lazard (NYSE: LAZ) has announced a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend will be payable on August 16, 2024, to stockholders of record on August 5, 2024. This announcement demonstrates Lazard's commitment to returning value to its shareholders through consistent dividend payments. The declaration of a dividend is often seen as a positive sign of a company's financial health and confidence in its future prospects.
Lazard Global Total Return and Income Fund (NYSE:LGI) has confirmed a monthly distribution of $0.14941 per share on its outstanding common stock, payable on August 22, 2024. The distribution is 100% sourced from net realized long-term capital gains. For the fiscal year to date, 38% of distributions came from long-term capital gains, while 62% was return of capital.
The Fund's 5-year average annual total return as of June 30, 2024, was 8.63%, with an annualized current distribution rate of 6.85% of NAV. The Fund's investment objective is total return, consisting of capital appreciation and current income. It invests in a portfolio of 60-80 US and non-US equity securities, emerging market currencies, and debt obligations.
Lazard (NYSE: LAZ) has reported preliminary assets under management (AUM) of approximately $244.7 billion as of June 30, 2024. The figures include $2.5 billion in market appreciation, offset by $1.4 billion in net outflows and $1.4 billion in foreign exchange depreciation. The average AUM for the quarter ended June 30, 2024, was $245.3 billion. The breakdown of AUM by asset class as of June 30, 2024, is $190.426 billion in equity, $46.111 billion in fixed income, and $8.133 billion in other assets. These figures are preliminary and subject to adjustment.
Lazard (NYSE: LAZ) will announce its second quarter and first-half 2024 financial results on Thursday, July 25, 2024. The press release will be accessible in the News & Announcements section of Lazard's website. Lazard will host a conference call at 8:00 a.m. ET the same day to discuss these results. The call can be accessed live via webcast through the Investor Relations section of Lazard’s website, or by dialing 1 800-343-4136 (U.S. and Canada) or +1 203-518-9843 (international) with the conference ID: LAZQ224. A replay will be available by 10:00 a.m. ET on July 25, 2024, on Lazard’s Investor Relations website or by dialing 1 800-839-5637 (U.S. and Canada) or +1 402-220-2562 (international).
Lazard Global Total Return and Income Fund (NYSE: LGI) has announced an increase in its monthly distribution to shareholders as per its Managed Distribution Policy.
Starting with the distribution payable on July 22, 2024, shareholders of record on July 11, 2024, will receive a monthly distribution equal to 10% of the Fund’s net asset value per share on an annualized basis, or $0.14941 per share. The Fund clarified that part of this distribution might be a return of capital, not necessarily indicative of investment performance.
Portfolio data as of May 31, 2024, is available on Lazard Asset Management's website. The Fund aims for total returns via capital appreciation and current income, investing in a diversified portfolio of 60-80 US and non-US equity securities and other instruments, including emerging market currencies and debt obligations.
Lazard Asset Management manages $245 billion in client assets as of May 31, 2024.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.10459 per share, payable on July 22, 2024, to shareholders of record on July 11, 2024. The distribution sources include net realized long-term capital gains, with no return from net investment income or short-term capital gains. The fund's annualized distribution rate is 6.84% of NAV, and the cumulative return for the fiscal year is 5.27%. The fund's investment strategy focuses on capital appreciation and current income through a diversified portfolio of US and non-US equity securities and emerging market investments. Financial intermediary firms will provide tax reporting details via Form 1099-DIV.
Lazard (NYSE: LAZ) has announced the appointment of Ali Syed as Managing Director and Head of Sovereign and Pension Fund Coverage. Based in New York, Syed will lead efforts to advise global sovereign and pension funds, working closely with Wassim Al Khatib and Sarah Al Suhaimi from the MENA region. This appointment is part of Lazard's strategy to expand its private capital capabilities, following the launch of Lazard Capital Solutions in 2023 and the recent hire of Adam Cady. Syed's prior experience includes roles at Citigroup and Samba Financial Group.
Lazard announced that its preliminary assets under management (AUM) as of May 31, 2024, totaled approximately $245 billion. This reflects a monthly market appreciation of $4.4 billion, net outflows of $1.6 billion, and foreign exchange appreciation of $1.4 billion. By asset category, the AUM breakdown includes $190.82 billion in equity, $46.36 billion in fixed income, and $7.82 billion in other assets. Compared to the previous month, the firm's total AUM increased from $240.805 billion to $245.008 billion, pending any adjustments.
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