Lazard Ltd Stock Price, News & Analysis

Lazard Global Total Return and Income Fund (NYSE:LGI) has confirmed a monthly distribution of $0.11512 per share, representing an annualized yield of 7.0% based on its net asset value as of December 31, 2020. The payment will be made on January 22, 2021, to shareholders registered by January 11, 2021, with an ex-dividend date set for January 8, 2021. The Fund seeks total returns through capital appreciation and income, investing in approximately 60 to 80 US and non-US equity securities, including those in emerging markets.

The Board of Directors of Lazard Global Total Return and Income Fund (LGI) has approved a monthly distribution of 7.0% on an annualized basis, based on the Fund's net asset value per share as of December 31, 2020. This distribution is set to be paid on January 22, 2021, to shareholders recorded as of January 11, 2021, with an ex-dividend date of January 8, 2021. The Fund's investment strategy focuses on total return through capital appreciation and income, investing in a diversified portfolio of approximately 60 to 80 US and non-US equity securities.

Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) for November 2020, totaling approximately $247.6 billion. The AUM reflects a market appreciation of $21.6 billion and foreign exchange appreciation of $2.9 billion, despite experiencing net outflows of $1.0 billion. Notably, equity AUM rose to $201.1 billion from $179.6 billion in October, while fixed income increased to $41.6 billion from $40.0 billion. The firm’s growth strategies and market conditions are fundamental to its future projections.

Lazard Ltd (NYSE: LAZ) announced that Kenneth M. Jacobs, Chairman and CEO, will participate in a moderated Q&A session at the Goldman Sachs 2020 US Financial Services Conference, scheduled for December 9 at 8:40 a.m. EST. A live audio webcast will be accessible on the Lazard Investor Relations website, followed by a replay shortly after the event. Lazard is a leading financial advisory and asset management firm, boasting a global presence in 43 cities across 27 countries, providing services in M&A, restructuring, capital raising, and asset management.

The "Global Automotive Supplier Study 2020" by Roland Berger and Lazard forecasts a 15-20% slump in global automotive supplier sales due to the pandemic, with average EBIT margins dropping to 1.7% in H1 2020. The study, assessing around 600 suppliers, indicates the automotive sector may not recover to 2017 sales levels until 2026, with creditworthiness affected by poor financial indicators. Experts see a need for strategic cooperation and restructuring among suppliers to navigate ongoing challenges.

Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) of approximately $224.2 billion as of October 31, 2020. This figure reflects a market depreciation of $3.9 billion and net inflows of $0.3 billion. For comparison, AUM as of September 30, 2020, was $227.8 billion. The composition of AUM includes equity at $179.6 billion, fixed income at $40.0 billion, and other assets at $4.6 billion.

Lazard (NYSE: LAZ) announced the return of Sam Whittaker as a Managing Director in its Financial Advisory division, effective immediately. Whittaker, who previously spent five years at PJT Partners, brings over 15 years of restructuring expertise. He will enhance Lazard UK’s Restructuring business alongside David Burlison, Co-Head of EMEA Restructuring. The firm recently made several senior appointments to strengthen its restructuring team, recognized as a global leader in the sector. Lazard’s Restructuring Group has a strong track record, advising major clients on complex assignments.

Lazard Ltd (NYSE: LAZ) reported operating revenue of $569 million for Q3 2020, a 3% decline from the previous year. Adjusted net income was $76 million, or $0.67 per share, marking a 14% decrease year-over-year. For the first nine months, adjusted net income was $218 million, down 22% from 2019. Financial Advisory revenue increased 1% to $307 million, while Asset Management revenue fell 8%. Lazard returned $50 million to shareholders in Q3 through dividends. Despite market challenges, the firm remains resilient with a strong financial position.

Lazard Ltd (NYSE: LAZ) has declared a quarterly dividend of $0.47 per share on its common stock. This dividend is scheduled to be paid on November 20, 2020, to stockholders of record as of November 9, 2020.

As a leading financial advisory and asset management firm, Lazard operates in over 40 cities and 25 countries, providing services in mergers and acquisitions, capital raising, and asset management.