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. reports developments in financial advisory and asset management, its two recurring business lines. The firm provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, while its asset management business offers investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals.
Recurring LAZ news includes quarterly operating results, monthly assets-under-management updates with flow, market, foreign-exchange and asset-class detail, common-stock dividend declarations, additions to advisory sector groups, and strategic updates for the global platform. Coverage also reflects the firm’s operations in North and South America, Europe, the Middle East, Asia and Australia.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) of approximately $264.9 billion as of March 31, 2021. This figure reflects market appreciation of $8.2 billion, net outflows of $0.8 billion, and foreign exchange depreciation of $3.2 billion. The average AUM for the quarter stood at $261.5 billion. The equity segment showed a growth from $209.8 billion to $215.5 billion, while fixed income decreased from $45.6 billion to $44.2 billion.
Lazard Ltd (NYSE: LAZ) announced that Lazard Fintech Acquisition Corp. I (LFTA) and Lazard Healthcare Acquisition Corp. I (LHCA) have filed registration statements with the SEC for proposed initial public offerings of 25,000,000 units each at $10.00 per unit. Each unit consists of one Class A ordinary share and one-fifth of a redeemable warrant. The offerings are distinct and not dependent on one another, with no assurance on completion. Goldman Sachs is the book-running manager for both offerings. The registration statements are pending effectiveness.
Lazard Ltd (NYSE: LAZ) announced its preliminary assets under management (AUM) as of February 28, 2021, totaling approximately $260.7 billion. Key factors contributing to this figure include market appreciation of $5.6 billion, net inflows of $0.2 billion, and foreign exchange depreciation of $0.3 billion. The AUM breakdown reveals $209.8 billion in equity, $45.6 billion in fixed income, and $5.3 billion in other assets. The report emphasizes Lazard's commitment to delivering financial advisory and asset management services globally.
Lazard Growth Acquisition Corp. I successfully closed its initial public offering, issuing 57,500,000 units at $10.00 per unit, with additional units purchased by the underwriter. The units are listed on Nasdaq under the symbol LGACU, comprising one Class A ordinary share and one-fifth of a warrant, exercisable for a Class A share at $11.50.
The Company aims to engage in mergers and acquisitions in various sectors, notably healthcare, technology, and energy transition, without geographic limitations.
Lazard Ltd (NYSE: LAZ) announced preliminary assets under management (AUM) of approximately $255.2 billion as of January 31, 2021. This figure reflects a decrease due to market depreciation of $1.2 billion, foreign exchange depreciation of $1.1 billion, and net outflows of $1.1 billion. The AUM comprises $206.2 billion in equity, $43.9 billion in fixed income, and $5.1 billion in other assets. Comparatively, total AUM was $258.6 billion on December 31, 2020.
Lazard Growth Acquisition Corp. I has announced the pricing of its initial public offering, consisting of 50,000,000 units at $10.00 each. The units, including a Class A ordinary share and a redeemable warrant, will start trading on Nasdaq under ticker symbol 'LGACU' on February 10, 2021, with the offering expected to close on February 12, 2021. The company aims to pursue opportunities in various sectors such as healthcare and technology. Goldman Sachs is the sole book-runner, with an option for over-allotments of 7,500,000 units.
Lazard Ltd (NYSE: LAZ) reported annual operating revenue of $2,524 million for 2020, slightly down 1% from 2019. Adjusted net income was $410 million, or $3.60 per share, marking a 7% increase from the prior year. In Q4 2020, adjusted net income reached $192 million, a 147% surge year-over-year. Financial Advisory revenue was $1,403 million, up 3%, while Asset Management revenue fell 4% to $1,111 million. The firm returned $365 million to shareholders in 2020. They ended the year with $259 billion in assets under management, a 4% increase from 2019.
Lazard Ltd (NYSE: LAZ) has declared a quarterly dividend of $0.47 per share on its common stock. This dividend is set to be paid on March 2, 2021, to stockholders recorded as of February 19, 2021. This decision reflects the company’s ongoing commitment to returning value to shareholders while maintaining a strong financial position.
Lazard Growth Acquisition Corp. I announced the public filing of a registration statement on Form S-1 with the SEC for a proposed IPO of 50 million units at $10 each. Each unit includes one Class A ordinary share and one-third of a redeemable warrant, with plans to list on Nasdaq under the symbol 'LGACU'. The Company, a blank check entity, aims to acquire businesses in growth-oriented sectors such as healthcare and technology, but is not limited to any specific industry. Goldman Sachs acts as the lead manager for the offering, which remains subject to market conditions.
Lazard Ltd (NYSE: LAZ) will announce its full-year and fourth-quarter 2020 financial results on February 5, 2021. The press release will be accessible on Lazard's website. An 8:00 a.m. EST conference call will follow to discuss the results, available via live audio webcast. For those unable to attend, a replay will be offered later that day. Lazard, a key player in financial advisory and asset management, operates in over 40 cities across 25 countries, providing services related to M&A, restructuring, and capital raising.