Lazard Ltd Stock Price, News & Analysis

Lazard (NYSE: LAZ) reported strong financial results for Q4 and full-year 2024, with firm-wide adjusted net revenue increasing 18% in 2024. The company's Financial Advisory segment showed significant growth with adjusted net revenue up 28% to $1,731 million, while Asset Management revenue increased 3% to $1,100 million.

Q4 2024 highlights include net revenue of $817 million and adjusted net income of $85 million ($0.78 per share). Full-year 2024 results show net revenue of $3,052 million and adjusted net income of $244 million ($2.34 per share). Assets Under Management (AUM) stood at $226 billion as of December 31, 2024, down 8% from the previous year.

The company returned $303 million to shareholders in 2024 through dividends ($179 million), share repurchases ($60 million), and employee tax obligations ($64 million). Lazard declared a quarterly dividend of $0.50 per share, payable February 21, 2025.

Lazard (NYSE: LAZ) has announced that its Board of Directors has declared a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend will be paid on February 21, 2025, to stockholders of record as of February 10, 2025.

Lazard Global Total Return and Income Fund (NYSE:LGI) has confirmed its monthly distribution of $0.14646 per share on the Fund's outstanding common stock, payable on February 21, 2025, to shareholders of record on February 10, 2025. The distribution represents a 100% return of capital.

Key performance metrics include:

• 5-year average annual total return (NAV): 7.66%
• Annualized current distribution rate: 10.20% of NAV
• Fiscal year cumulative total return: 6.51%
• Fiscal year distributions: 8.67% of NAV

The Fund invests in a portfolio of 60-80 US and non-US equity securities, focusing on companies with market capitalizations above $2 billion. It also includes investments in emerging market currencies and debt obligations. As of December 31, 2024, Lazard Asset Management and affiliated companies managed $226.3 billion in client assets.

Lazard (NYSE: LAZ) reported preliminary assets under management (AUM) of $226.3 billion as of December 31, 2024. The month saw significant changes including:

- Net outflows of $4.5 billion (including $3.3 billion from two concentrated sub-advisory relationships)
- Foreign exchange depreciation of $2.5 billion
- Market depreciation of $1.1 billion

The AUM breakdown shows:
- Equity: $174.9 billion
- Fixed Income: $43.3 billion
- Other: $8.1 billion

The preliminary average AUM for Q4 2024 was $233.8 billion, compared to total AUM of $234.4 billion in November 2024.

Lazard (NYSE: LAZ) has scheduled the announcement of its fourth-quarter and full-year 2024 financial results for Thursday morning, January 30, 2025. The company will host a conference call at 8:00 a.m. ET on the same day to discuss these results. The call will be accessible via a live audio webcast through Lazard's Investor Relations website section, or by phone using specific dial-in numbers for U.S./Canada (toll-free: 1-800-445-7795) and international callers (+1 785-424-1699) with conference ID: LAZQ424.

A replay of the conference call will be made available from 10:00 a.m. ET on January 30, 2025, through Lazard's website or via phone replay numbers.

Lazard (NYSE: LAZ) has expanded its Media, Entertainment & Sports group with three key appointments. Stephen Finkel joins as Managing Director and Global Head of Sports Advisory in New York, alongside Manoel Carvalho as Managing Director and Bryan Tannenbaum as Vice President.

Finkel, previously Senior Managing Director at Guggenheim Securities leading their sports advisory practice, brings experience from Rothschild & Co and Credit Suisse. He also serves as an Adjunct Associate Professor at NYU's Stern School of Business. Carvalho joins from Guggenheim Securities, where he focused on sports, media, and entertainment, having previously worked at Rothschild & Co and Deloitte.

These appointments follow the addition of Ben Braun as Global Head of Media, Entertainment & Sports, supporting Lazard's long-term growth strategy. Braun highlighted sports' development as a unique global asset class, emphasizing strong fan engagement in a fragmented content ecosystem.

Lazard Global Total Return and Income Fund (NYSE:LGI) has announced its monthly distribution of $0.14646 per share, representing a 10% annualized rate based on the Fund's net asset value as of December 31, 2024. The distribution will be payable on January 22, 2025, to shareholders of record on January 10, 2025.

The Fund focuses on total return through capital appreciation and current income, investing in a portfolio of 60 to 80 US and non-US equity securities with market capitalizations typically above $2 billion. The investment strategy includes emerging market currencies and debt obligations. The Fund is managed by Lazard Asset Management (LAM), which oversees $234.4 billion in client assets as of November 30, 2024.

Lazard Global Total Return and Income Fund (NYSE:LGI) has announced its monthly distribution of $0.14941 per share, payable on January 22, 2025, to shareholders of record on January 10, 2025. The distribution comprises 100% net realized long-term capital gains. For the fiscal year to date, distributions total $1.52400 per share, consisting of 94% long-term capital gains and 6% return of capital.

The Fund's performance metrics include a 9.21% average annual total return over the past 5 years, a 9.79% annualized distribution rate, and a 10.08% cumulative total return for the fiscal year through November 30, 2024. The Fund invests in 60-80 US and non-US equity securities, focusing on companies with market capitalizations above $2 billion, and includes emerging market investments.

Lazard (NYSE: LAZ) has successfully received the required consents from holders of its subsidiary Lazard Group 's senior notes to modify the Indenture agreement. The consent solicitation covers four series of notes with varying interest rates (3.625% to 6.000%) and maturities (2027-2031), totaling $1.7 billion in aggregate principal amount.

Holders who provided valid consents before the December 11, 2024 deadline will receive $1.50 per $1,000 principal amount. The amendments will allow parent entity Lazard to file reports instead of Lazard Group when guaranteeing securities, and provide for Lazard's guarantees of the Notes.