LAZ - Lazard Ltd

NYSE - NYSE Delayed price. Currency in USD
41.92
-0.47 (-1.11%)
At close: 4:01PM EST
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Previous close42.39
Open42.51
Bid40.92 x 800
Ask0.00 x 800
Day's range41.87 - 42.82
52-week range31.07 - 44.95
Volume650,610
Avg. volume778,496
Market cap4.403B
Beta (5Y monthly)1.70
PE ratio (TTM)15.60
EPS (TTM)2.69
Earnings date29 Jan 2020
Forward dividend & yield1.88 (4.44%)
Ex-dividend date06 Nov 2019
1y target est43.13
  • Is Lazard Ltd's (NYSE:LAZ) P/E Ratio Really That Good?
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    Is Lazard Ltd's (NYSE:LAZ) P/E Ratio Really That Good?

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  • Business Wire

    Lazard Global Total Return and Income Fund Declares Monthly Distribution

    The Board of Directors of Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.10646 per share on the Fund’s outstanding common stock. The distribution is payable on February 24, 2020 to shareholders of record on February 12, 2020. The ex-dividend date is February 11, 2020.

  • Business Wire

    Lazard to Announce Full-Year and Fourth-Quarter 2019 Results

    Lazard Ltd (NYSE: LAZ) will announce its full-year and fourth-quarter 2019 results in a press release to be issued Thursday morning, January 30, 2020.

  • Business Wire

    Lazard Reports December 2019 Assets Under Management

    Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management ("AUM") as of December 31, 2019 totaled approximately $248.2 billion. The month’s AUM included market appreciation of $6.1 billion; foreign exchange appreciation of $2.8 billion and net inflows of $2.6 billion.

  • Financial Times

    Visa to buy fintech Plaid in $5.3bn deal

    Visa agreed to acquire Plaid, a group that connects fintech companies with their customers’ bank accounts, for $5.3bn in the latest large tech-focused deal by the payments company. The acquisition of the Silicon Valley company, which is backed by high profile tech investors including Mary Meeker and Andreessen Horowitz as well as Goldman Sachs, comes less than two years after it was valued at $2.65bn. For Visa the transaction indicates its latest effort to make a further push into the fast growing fintech sector.

  • Business Wire

    Lazard Global Total Return and Income Fund Confirms New Distribution

    Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its level distribution policy, as previously authorized by its Board of Directors, a monthly distribution of $0.10646, equivalent to 7.0% (annualized) of the Fund’s net asset value per share as of the close of markets on December 31, 2019 on the Fund’s outstanding common stock. The distribution is payable on January 23, 2020 to shareholders of record on January 13, 2020. The ex-dividend date is January 10, 2020.

  • Business Wire

    Jim D’aquila and Adeel Ahmad Join Lazard’s Middle Market Consumer, Food & Retail Group

    Lazard Ltd (NYSE: LAZ) announced today that Jim D’Aquila has joined Lazard’s Middle Market Consumer, Food & Retail (CFR) group as a Managing Director and Head of Consumer & Retail. Adeel Ahmad has joined the CFR group as a Director. They are both based in Minneapolis.

  • What Kind Of Share Price Volatility Should You Expect For Lazard Ltd (NYSE:LAZ)?
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    What Kind Of Share Price Volatility Should You Expect For Lazard Ltd (NYSE:LAZ)?

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  • Ichor, Lazard, Canadian Solar, JinkoSolar and Enphase Energy highlighted as Zacks Bull and Bear of the Day
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    Ichor, Lazard, Canadian Solar, JinkoSolar and Enphase Energy highlighted as Zacks Bull and Bear of the Day

    Ichor, Lazard, Canadian Solar, JinkoSolar and Enphase Energy highlighted as Zacks Bull and Bear of the Day

  • Bear Of The Day: Lazard (LAZ)
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    Bear Of The Day: Lazard (LAZ)

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  • Lazard's (LAZ) AUM Increases in November on Higher Equity
    Zacks

    Lazard's (LAZ) AUM Increases in November on Higher Equity

    Lazard's (LAZ) preliminary assets under management (AUM) of $236.7 billion for November 2019 reflect marginal rise from the prior month.

  • Business Wire

    Tim Wielechowski Joins Lazard’s Middle Market Consumer, Food & Retail Group

    Lazard Ltd (NYSE: LAZ) announced today that Tim Wielechowski has joined Lazard’s Middle Market Consumer, Food & Retail (CFR) group as Managing Director. He is based in Charlotte.

  • Business Wire

    Lazard Reports November 2019 Assets Under Management

    Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management ("AUM") as of November 30, 2019 totaled approximately $236.7 billion. The month’s AUM included market appreciation of $3.8 billion; net outflows of $1.5 billion and foreign exchange depreciation of $1.4 billion.

  • The Lazard (NYSE:LAZ) Share Price Is Down 26% So Some Shareholders Are Getting Worried
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    The Lazard (NYSE:LAZ) Share Price Is Down 26% So Some Shareholders Are Getting Worried

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  • Google Finds Its Deal Whisperers at Old-School Bank Lazard
    Bloomberg

    Google Finds Its Deal Whisperers at Old-School Bank Lazard

    (Bloomberg) -- It’s been an up-and-down few years for Lazard Ltd., the storied blue blood investment bank.Its share of deal advisory work worldwide is ranked at its lowest in almost two decades, falling behind rival Evercore Inc., Bloomberg data show. Top Lazard bankers such as Matthieu Pigasse and Antonio Weiss have left and a few offices closed.Yet amid the setbacks, Lazard, founded in the 1800s as a dry goods merchant, can count on a surprising and steady source of business: Google, the quintessential Silicon Valley firm. Over the last decade, Lazard has quietly become Google’s go-to adviser, bringing it the cachet -- though not big fees -- of working with one of the world’s largest companies.Lazard has represented the Alphabet Inc. unit on every takeover where it used an outside adviser -- a total of $22 billion in transactions over that period, from Motorola Mobility for $9.8 billion in 2011 to Fitbit Inc. for $2.1 billion this month. For its many smaller transactions, Google generally uses its in-house banking staff.That kind of relationship, while informal, is rare these days, especially in the cut-throat world of technology investment banking. Companies typically use a variety of banks when doing deals. The Google-Lazard tie-up -- put together almost a decade ago by one of its bankers, Vernon Jordan, the well-connected power broker -- is more reminiscent of the century-old banking relationship between General Electric and what is now JPMorgan Chase & Co. And like that one, it reflects in part personal relationships and a desire for discreetness.“This harkens back to the old line way of banking where corporations would have this kind of relationship with an institution for decades,” said Barbara Byrne, a former vice chairman at Barclays Plc and now a director at CBS Corp.Antitrust ScrutinyThe Google business alone won’t make or break Lazard, to be sure. The New York-based firm’s share of global M&A by deal value is just 4.3% this year, the lowest since 2001, according to data compiled by Bloomberg. That share has especially tumbled in recent years as rainmaker bankers such as Ken Moelis, Paul Taubman and Blair Effron founded their own boutique firms that compete on megadeals.Google transactions may have brought Lazard a mere $70 million in fees since 2011, according to an estimate by consultant Freeman & Co. In the third quarter alone, Lazard posted financial advisory revenue of $304 million.And Google’s acquisition activity may slow as antitrust scrutiny grows from federal, state and Congressional investigators looking into whether the company is using its size to hurt competitors.But the relationship with Google serves to burnish the firm’s reputation, and allows its bankers to play up the ties, such as when seeking business with emerging tech companies, a person familiar with the situation said.“There’s no banker in the world who wouldn’t want that relationship,” Byrne said. “They would jump hoops for it.”Google and Lazard declined to comment.On Lazard’s last earnings call, CEO Ken Jacobs said that its financial advisory activity had “gained momentum.” The firm has reshuffled leadership in recent months, promoting several bankers including naming Peter Orszag as the firm’s chief global dealmaker in April. (Orszag is a Bloomberg Opinion columnist.)Jordan’s RoleLazard won its role with Google thanks partly to Jordan, 84, who had been a friend and adviser to former President Bill Clinton. He started working for Lazard in 2000 as the ultimate door opener and now holds the title of senior managing director.His entrée to Google was through David Drummond, who joined the company in 2002 and is now its vice president of corporate development, people familiar with the matter said. Jordan delivered a speech to honor Drummond at a social justice gala last year where he called him a “good friend.”(A former Google employee who had a long-term relationship with Drummond alleged in August that she was forced out of the company after dating him. Drummond has acknowledged the relationship and said he has addressed it with Google.)‘Science Experiments’Google pays Lazard a retainer of more than $200,000 a month for its services, according to people familiar with the situation. While some other banks have retainers with clients, Lazard’s is notable for its duration, going back years.Lazard plays a variety of roles for Google. Often it acts as a consultant, such as a McKinsey would, researching industries and exploring potential takeover targets, according to people familiar with the matter. A former Lazard employee described the work as doing “science experiments” for Google.They sometimes lead to being hired for traditional M&A advice, or coming in only for late-stage negotiations after Google employees handled the earlier talks.In the Fitbit acquisition, Lazard initially prepared a study on the smartwatch market, which laid the groundwork for Google to buy some of watchmaker Fossil Group Inc.’s technology earlier this year. That, in turn, led to Google hiring Lazard for the Fitbit purchase.Deep PocketsGoogle doesn’t typically require the array of services, notably takeover financing, offered by bulge bracket firms like Goldman Sachs or JPMorgan. The company has deep pockets to pay for a transaction itself. That’s why it made sense to turn to a firm that focuses more heavily on M&A.Google also trusts Lazard to keep potential takeovers close to the vest, people familiar with the arrangement said, even viewing some of the Lazard bankers as if they were embedded in the corporate development group.Paul Haigney, the longtime Lazard banker who, with John Gnuse, handles the day-to-day Google relationship, is described by people who know him as an old-school banker, meaning in part that he doesn’t like meeting or gossiping with the press -- a much-prized trait at the typically secretive Google.In the Fitbit acquisition, Lazard’s role was handled in a typical low-profile way. A release announcing it omitted the bank’s name, listing only Fitbit’s financial adviser, Qatalyst.“Banking relationships at the CEO and board level are extremely personal and not institutional,” said Stefan Selig, managing partner at BridgePark Advisors, whose clients include CEOs and wealthy investors. “Those relationships tend to be sticky if the bankers and management teams don’t change and if the client is happy with the service.”To contact the reporters on this story: Liana Baker in New York at lbaker75@bloomberg.net;Gerrit De Vynck in New York at gdevynck@bloomberg.net;Sonali Basak in New York at sbasak7@bloomberg.netTo contact the editors responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net, Larry Reibstein, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Lazard (LAZ) Q3 Earnings & Revenues Fall Y/Y, Stock Down 2.9%
    Zacks

    Lazard (LAZ) Q3 Earnings & Revenues Fall Y/Y, Stock Down 2.9%

    Lazard's (LAZ) Q3 results reflect fall in revenues and assets under management (AUM) balance, as well as adverse impact of elevated expenses.

  • Why Lazard Ltd (NYSE:LAZ) Could Be Worth Watching
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    Why Lazard Ltd (NYSE:LAZ) Could Be Worth Watching

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