Javier Ghersi/Moment via Getty Images An Established, Old Firm with New CEO Rounding out my series of articles this week on the financials sector, today I went diving into the waters of investment banking again in search of a stock for under $40 in this sector, and I came across a long-established firm called Lazard (NYSE:LAZ), which recently had its latest earnings results announced on Feb. 1st. Some key points that set this firm apart, from its SA profile, are that it has been in business since 1848, ...

Lazard, Inc. (LAZ) announced a preliminary asset under management (AUM) balance of $243.8 billion for January 2024. This reflects a 1.1 % decline from $246.7 billion as of Dec 31, 2023.The drop in January AUM was primarily due to foreign exchange depreciation of $2.3 billion and net outflows of $2.1 billion, whereas market appreciation of $1.6 billion softened the impact.Lazard’s equity AUM dropped 0.9% from the prior month to $1.88 billion. Fixed-income AUM of $47.3 billion fell 1.5% sequentially. Also, ot ...

NEW YORK--(BUSINESS WIRE)--Lazard, Inc. (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of January 31, 2024 totaled approximately $243.8 billion. The month’s AUM included foreign exchange depreciation of $2.3 billion, net outflows $2.1 billion and market appreciation of $1.6 billion. LAZARD, INC. ASSETS UNDER MANAGEMENT (“AUM”) (unaudited) ($ in millions)     As of:   January 31, December 31,   20241 2023 Equity ...

Lazard Inc.’s (LAZ) shares jumped 5.36% following the release of its fourth-quarter and full-year 2023 results. Quarterly adjusted earnings per share of 66 cents beat the Zacks Consensus Estimate of 35 cents. However, the bottom line compared unfavorably with the prior-year quarter’s earnings of 69 cents per share.The results benefited from increased revenues and assets under management (AUM) balances. Nonetheless, higher expenses acted as spoilsports.Lazard’s net income (GAAP) was $63.6 million, which incr ...

Lazard (LAZ) reported $760.96 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 13.4%. EPS of $0.66 for the same period compares to $0.69 a year ago.The reported revenue represents a surprise of +16.10% over the Zacks Consensus Estimate of $655.42 million. With the consensus EPS estimate being $0.35, the EPS surprise was +88.57%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determin ...

Average AUM ($B) Average Fees (Bps) Financial Advisory Revenue Asset Management Revenue $274 $259 $265 $267 $262 Data in millions, except Lazard clients, average AUM and average fees 12 Premier active manager with significant diversification of investment strategies and global market reach Equity Fixed Income Global 15 CONFIDENTIAL DRAFT | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | ...

Lazard (LAZ) came out with quarterly earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.69 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 88.57%. A quarter ago, it was expected that this company would post earnings of $0.19 per share when it actually produced earnings of $0.10, delivering a surprise of -47.37%.Over the last four quarters, the company has surpa ...

NEW YORK--(BUSINESS WIRE)--Lazard, Inc. (NYSE: LAZ) today announced that its Board of Directors has voted to declare a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend is payable on February 23, 2024, to stockholders of record on February 12, 2024. About Lazard Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides adv ...

NEW YORK--(BUSINESS WIRE)--Lazard Asset Management (LAM) announced today that Tomohiro Kamisaku will join the firm as CEO of Lazard Japan Asset Management KK, effective February 1, 2024. Mr. Kamisaku succeeds Yugo Ishida, who has been CEO of Lazard Asset Management’s Japan business since 2014. Mr. Ishida will retire as CEO and become a Senior Advisor at Lazard Asset Management. “We have a long history of serving our clients in Japan and are positioning ourselves to do more with a broader set of Japanese ...

NEW YORK--(BUSINESS WIRE)--Lazard, Inc. (NYSE: LAZ) today announced former PayPal CEO, Dan Schulman, and former US Chairman and Managing Partner of the Americas for Ernst & Young, Stephen R. Howe Jr., have been appointed to its Board of Directors, effective February 1, 2024. “We are thrilled that Dan and Steve are joining our Board of Directors,” said Peter R. Orszag, Chief Executive Officer and Director, Lazard. “They are world-class leaders and emblematic of the extraordinary professionals we attract at L ...