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.
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Lazard, Inc. (LAZ) announced the appointment of former PayPal CEO Dan Schulman and former US Chairman and Managing Partner of the Americas for Ernst & Young, Stephen R. Howe Jr., to its Board of Directors, effective February 1, 2024. The expansion of the Board reflects the company's focus on building and strengthening Lazard for future growth. Schulman and Howe bring extensive leadership and financial expertise to guide the organization as it embarks on its next chapter.
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Lazard Global Total Return and Income Fund, Inc. (LGI) has confirmed a monthly distribution of $0.10459 per share on its outstanding common stock, payable on February 22, 2024. The distribution consists of a 100% return of capital. The average annual total return for the 5-year period ending on December 31, 2023, was 11.59%. The annualized current distribution rate expressed as a percentage of NAV as of December 31, 2023, was 6.25%. The cumulative total return for the fiscal year through December 31, 2023, was 19.68%, with cumulative fiscal year distributions as a percentage of NAV as of December 31, 2023, at 2.60%.
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Lazard, Inc. (NYSE: LAZ) will release its Q4 and full-year 2023 financial results on February 1, 2024. The company will host a conference call to discuss the results, accessible through their website or by phone. A replay will also be available.
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Lazard, Inc. (NYSE: LAZ) reported preliminary assets under management of approximately $246.7 billion as of December 31, 2023. The AUM included market appreciation of $8.5 billion, foreign exchange appreciation of $2.0 billion, and net inflows of $0.2 billion. The preliminary average assets under management for the quarter ended December 31, 2023, were $233.9 billion.
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Lazard Global Total Return and Income Fund, Inc. (LGI) confirms a monthly distribution of $0.10459 per share, equivalent to 7% annualized of its net asset value, payable on January 22, 2024. The Fund's investment objective is total return, consisting of capital appreciation and current income. It invests in a portfolio of approximately 60 to 80 US and non-US equity securities, including American Depository Receipts, generally of companies with market capitalizations greater than $2 billion, and may include investments in emerging markets. Lazard Asset Management, the Fund's investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of November 30, 2023, LAM and affiliated asset management companies in the Lazard Group managed $235.9 billion worth of client assets.
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Lazard, Inc. (NYSE: LAZ) has completed its conversion from a publicly traded partnership to a U.S. C-Corporation under Delaware Law and changed its name from Lazard Ltd to Lazard, Inc., effective January 1, 2024. Shareholders will now receive dividends for U.S. tax purposes, and a final Schedule K-1 will be issued to shareholders of record in 2023 in March 2024. Peter R. Orszag, CEO of Lazard, emphasized the benefits of the conversion, including expanding the shareholder base, simplifying tax reporting, and enhancing trading liquidity.
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Lazard Global Total Return and Income Fund, Inc. (LGI) confirms a monthly distribution of 7.0% of the Fund’s net asset value per share as of December 29, 2023, payable on January 22, 2024, to shareholders of record on January 11, 2024. The distribution sources include net investment income, net realized capital gains, and return of capital. The average annual total return for the 5-year period ending on November 30, 2023, is 8.96%.
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Lazard and Elaia Partners plan to launch a late-stage and growth equity fund focused on Europe and managed by a new jointly owned asset management firm based in Paris. The new entity aims to meet the capital needs of future French and European technology and deep tech leaders, supporting companies at all stages of their development. Led by Xavier Lazarus, co-founder and managing partner of Elaia Partners, the joint effort looks to launch its first European-focused fund as early as 2024. The strategic partnership between Lazard and Elaia Partners expands Lazard’s range of products while benefiting from the expertise and track record of Elaia Partners, enabling Lazard to meet the growing demand of its institutional and private wealth management clients for private assets. The partnership also serves as a natural extension of Elaia Partners’ growth plan to cover later stages of development, while benefiting from Lazard’s global distribution network.
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Lazard Ltd (NYSE: LAZ) reported a preliminary total assets under management (AUM) of approximately $235.9 billion as of November 30, 2023. This included market appreciation of $13.7 billion, foreign exchange appreciation of $3.5 billion, and net outflows of $1.3 billion. The breakdown of AUM by asset type included $181,386 million in equity, $46,491 million in fixed income, and $8,047 million in other assets.
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Lazard Asset Management (Lazard) is pleased to announce that Sean Gallagher has joined the firm as Global Head of Lazard’s Small Cap Equity platform. Based in New York, Mr. Gallagher will have oversight of Lazard’s small cap strategies and will be responsible for leading the business through its next phase of growth. Scott Kolar also joins Lazard’s US Small Cap Equity Select team as a Portfolio Manager/Analyst. Lazard manages approximately $3bn across its four small cap strategies.
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FAQ
What is the current stock price of Lazard (LAZ)?
The current stock price of Lazard (LAZ) is $57.12 as of November 21, 2024.
What is the market cap of Lazard (LAZ)?
The market cap of Lazard (LAZ) is approximately 5.1B.
What services does Lazard, Inc. provide?
Lazard offers mergers and acquisitions advice, restructuring, capital structure, corporate finance, and asset management services.
Where does Lazard operate?
Lazard operates in 43 cities across 27 countries, including North America, Europe, Asia, Australia, and Central and South America.
What is the history of Lazard, Inc.?
Lazard was founded in 1848 and has grown to become one of the world’s leading financial advisory and asset management firms.
Who are Lazard’s primary clients?
Lazard serves corporations, partnerships, institutions, governments, and individuals, with a focus on institutional clients in their asset management business.
How is Lazard's revenue distributed geographically?
Approximately 60% of Lazard's revenue comes from the Americas, 35% from EMEA, and 5% from the Asia-Pacific region.
What is the focus of Lazard’s asset management business?
Lazard’s asset management business focuses primarily on equities, with an international outlook and geared towards institutional clients.
How many employees does Lazard have?
Lazard has over 3,000 employees worldwide.
Where can I find Lazard's social media disclosures?
Lazard's social media disclosures can be found at https://www.lazard.com/social-media-disclosure/.
What makes Lazard a leader in financial services?
Lazard's global presence, deep industry expertise, and comprehensive range of financial advisory and asset management services make it a leader in the financial services industry.
How can I stay updated with Lazard’s latest news?
You can stay updated with Lazard’s latest news and performance insights through their social media disclosures and financial updates.
Lazard, Inc.
NYSE:LAZ
LAZ Rankings
LAZ Stock Data
5.14B
109.41M
2.92%
71.3%
2.87%
Capital Markets
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United States of America
NEW YORK