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Lazard's (LAZ) February AUM Improves on Favorable Markets

Zacks Equity Research

Lazard Ltd. LAZ recorded a 2% rise in preliminary assets under management (AUM) as of Feb 28, 2019, from the prior month. Total AUM came in at $234.4 billion, up from the January 2019 figure of $230 billion.

February AUM displayed $5.5 billion market appreciation and net inflows of $0.2 billion. These positives were partially offset by unfavorable foreign exchange impact of $1.2 billion.

Lazard’s equity AUM at the end of Februaryincreased 2.3% from the prior month to $194.8 billion. Also, other assets rose 1.1% to $4.9 billion. However, fixed income AUM declined marginally on a sequential basis to $34.7 billion.

Lazard is well positioned to grow organically, driven by strength in its Financial Advisory and Asset Management segments. However, absence of continued growth in equity markets and stringent regulations remain headwinds.

Shares of the company have lost 0.8% over the past three months against the 12.3% rally of the industry.

Lazard currently carries a Zacks Rank #5 (Strong Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $714.2 billion for February. Results reflect a rise of5.3% from $678.3 billion recorded as of Jan 31. The increase was primarily driven by to market appreciation and the acquisition of Benefit Street Partners L.L.C.

Cohen & Steers CNS reported preliminary AUM of $60.8 billion as of Feb 28, 2019, up 1.3% from the prior month. Market appreciation of $624 million and net inflows of $350 million supported AUM growth.

Invesco’s IVZ preliminary month-end AUM was $945.7 billion as of Feb 28, 2019, which increased 1.6% from the prior month. Favorable market returns, foreign exchange and higher money market AUM were the primary reasons behind the rise.

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Invesco Ltd. (IVZ) : Free Stock Analysis Report
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