37.40 -0.02 (-0.05%)
After hours: 4:19PM EDT
|Bid||37.24 x 800|
|Ask||37.46 x 800|
|Day's Range||37.15 - 37.95|
|52 Week Range||31.07 - 43.86|
|Beta (3Y Monthly)||1.55|
|PE Ratio (TTM)||12.12|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||1.88 (4.98%)|
|1y Target Est||39.57|
Lazard Ltd reported today that its preliminary assets under management as of September 30, 2019 totaled approximately $230.9 billion. The month’s AUM included market appreciation of $4.5 billion; foreign exchange depreciation of $0.5 billion and net outflows of $1.9 billion.
Lazard Ltd will announce its third-quarter and nine-month 2019 results in a press release to be issued Thursday morning, October 31, 2019.
(Bloomberg) -- Lazard Ltd.’s asset-management division plans to cut as much as 7% of its workforce and shut down some investment funds by the end of the year, a person briefed on the matter said.Lazard told employees about the cutbacks last week, said the person, who asked not to be identified because the move hasn’t been announced. Investment and non-investment roles will be affected, the person said. The unit had 850 employees as of June 30, meaning a 7% reduction could bring about 60 firings.Lazard Asset Management oversees $213.6 billion. The cutbacks come as the broader industry faces pressure from passive funds. In August, index-based equity mutual funds and ETFs surpassed active funds in assets under management, a milestone moment for the industry.This year, Lazard ramped up its focus on quantitative; environmental, social and governance; and artificial intelligence-based strategies for investing. The funds to be eliminated had little potential for growth, the person said. Dow Jones reported the cuts earlier.Read more: With $0 Fees, Schwab Risks Blowing Up Brokerage Model It BuiltTo contact the reporter on this story: Gwen Everett in New York at email@example.comTo contact the editors responsible for this story: Michael J. Moore at firstname.lastname@example.org, Dan Reichl, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Lazard Ltd. (LAZ) is cutting up to 7% of its employees in its asset-management division and closing some investment funds by years end, people familiar with the matter said, amid a tougher climate for money managers.
Lazard's job cuts come amid an outflow of assets from its funds and increasingly fierce competition from lower-cost index funds.
Lazard Asset Management, the New York-based fund house with assets of $214bn, has axed more than 60 staff as it withdraws from a range of subscale funds that have failed to win investor support. The cuts, which represent 7 per cent of the more than 850-strong workforce, follow an internal review led by Ashish Bhutani, chief executive of LAM, said two people close to the situation. As a pure-play active manager, Lazard and its midsized peers have suffered investor flight from higher-cost active management to lower-cost passive funds.
While AllianceBernstein Holding L.P. (AB) and Lazard (LAZ) are good options with similar business trends, deeper research into their financials will help decide which would be a better investment pick.
Lazard Ltd announced today that Kevin Jach has returned to its Middle Market Advisory practice as a Managing Director in Lazard’s Middle Market Consumer, Food & Retail group.
The Board of Directors of Lazard World Dividend & Income Fund, Inc. has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.05799 per share on the Fund’s outstanding common stock.
The Board of Directors of Lazard Global Total Return and Income Fund, Inc. has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.08879 per share on the Fund’s outstanding common stock.
Lazard Ltd reported today that its preliminary assets under management as of August 31, 2019 totaled approximately $228.8 billion. The month’s AUM included market depreciation of $3.8 billion; foreign exchange depreciation of $1.8 billion and net outflows of $0.4 billion.
Lazard Ltd (LAZ) announced today that it has named Cyrus Kapadia as Chief Executive Officer (CEO) of Lazard Investment Banking in the UK and William Rucker, CEO of the business since 2004, as Chairman, effective immediately. Archie Norman, Chairman of the business since 2013, will continue to serve Lazard as a Special Adviser to Lazard’s CEO. “William has successfully built and led one of our firm’s most important investment banking franchises in his career at Lazard over the past 30 years,” said Kenneth M. Jacobs, Chairman and CEO of Lazard.
Could Lazard Ltd (NYSE:LAZ) be an attractive dividend share to own for the long haul? Investors are often drawn to...