Lazard Reports 4% AUM Increase Amid Market Challenges
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 12 2024
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Should l Buy LAZ?
Source: SeekingAlpha
Lazard Inc's stock fell 6.92% as it crossed below its 5-day SMA, reflecting broader market weakness with the Nasdaq-100 down 1.45% and S&P 500 down 1.26%.
Despite the stock's decline, Lazard reported a 4% increase in assets under management (AUM) to approximately $277.7 billion as of February 28, 2026. This growth was driven by $8.9 billion in market appreciation and $4.2 billion in net inflows, showcasing investor confidence. However, the company faced a $0.8 billion foreign exchange depreciation and a $1.5 billion decrease in AUM due to the sale of its stake in Edgewater Funds management vehicles, indicating a strategic shift in asset management.
The implications of this report suggest that while Lazard's stock is currently under pressure, the firm is effectively navigating market fluctuations and positioning itself for future growth through strategic asset management and talent expansion goals.
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Analyst Views on LAZ
Wall Street analysts forecast LAZ stock price to rise
4 Analyst Rating
1 Buy
1 Hold
2 Sell
Hold
Current: 42.480
Low
46.00
Averages
54.50
High
59.00
Current: 42.480
Low
46.00
Averages
54.50
High
59.00
About LAZ
Lazard, Inc. is a financial advisory and asset management company, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Its segments include Financial Advisory and Asset Management. Financial Advisory segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of advisory services including mergers and acquisitions advisory, capital markets advisory, shareholder advisory, sovereign advisory, geopolitical advisory, restructuring and liability management, capital raising and placement, and other strategic matters. Asset Management segment offers a range of global investment solutions and investment and wealth management services in equity and fixed income strategies, asset allocation strategies, alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries and private wealth clients.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Lazard CEO Exercises Options, Significantly Reduces Stock Holdings
- Transaction Overview: Lazard's Asset Management CEO Christopher Hogbin exercised 48,332 options and sold 11,829 shares of common stock between March 18 and 19, 2026, with a transaction value of approximately $474,000, reflecting direct management of liquidity needs.
- Impact on Holdings: This transaction reduced Hogbin's direct common stock holdings by 75.5% to 11,829 shares, although he retains 260,989 restricted stock units (RSUs), indicating alignment with shareholder interests despite the reduction.
- Financial Performance Analysis: While Lazard's financial advisory segment saw a 4% sales increase and asset management grew by 7% in 2026, earnings fell by 19% in 2025, indicating that strong sales growth did not translate into profitability.
- Market Reaction and Outlook: Hogbin's stock closed on March 27 about 31% below its February peak, which may affect investor confidence in the company's future performance, despite the asset management segment reporting record revenue growth in Q4 2025.
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Lazard CEO Reduces Stock Holdings by 50%
- Transaction Overview: Lazard's Asset Management CEO Christopher Hogbin sold 11,829 shares of common stock between March 18 and 19, 2026, at a weighted average price of $40.04, totaling approximately $474K, which represents a 50% reduction in direct holdings, indicating a cautious outlook on the company's future.
- Options Exercise Details: The transaction involved the exercise of 48,332 options with an immediate sale of a portion of the stock, all conducted directly without indirect entities, reflecting the executive's transparency and compliance in market activities.
- Financial Performance Analysis: Despite Lazard's financial advisory segment achieving a 4% sales increase and asset management sales rising by 7% in 2026, the earnings per share fell by 19% in 2025, highlighting pressure on the company's profitability.
- Market Reaction and Outlook: As of March 27, 2026, Lazard's stock price was down 31% from its February high, which may affect investor confidence in its future performance, particularly in light of the insider selling, potentially leading to decreased market interest in its shares.
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- Market Rally: President Trump announced ongoing talks with Iran and postponed strikes on Iranian energy sites, leading to significant gains in the S&P 500 and Dow, creating a 'risk-on' environment favorable for financial firms and enhancing market performance in the asset management sector.
- Asset Management Benefits: The stock market rebound has increased the value of assets under management (AUM) for asset management companies, a key performance metric, particularly as investment banks and brokerages like Lazard and BGC saw their shares rise by 2.8% and 3%, respectively, boosting market optimism about their prospects.
- Energy Price Decline: The easing of geopolitical tensions has caused Brent crude oil prices to fall by over 7%, which not only reduces energy costs but may also stimulate economic activity, further driving growth in financial markets.
- BGC Stock Performance: BGC's shares have risen 8.3% year-to-date, although they remain 10.7% below their 52-week high of $10.85; however, the market's increased confidence in its future performance reflects investor optimism about potential economic recovery.
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Lazard Fund Confirms Monthly Distribution of $0.15340
- Monthly Distribution Confirmation: Lazard Global Total Return and Income Fund confirms a monthly distribution of $0.15340 per share, payable on April 22, 2026, demonstrating the fund's ongoing cash flow capability and commitment to shareholders.
- Distribution Source Analysis: The distribution comprises net investment income, short-term and long-term capital gains, and return of capital, with a significant 72% sourced from capital return, indicating pressure on investment returns and reliance on capital.
- Annual Return Performance: As of February 28, 2026, the fund's average annual total return over five years stands at 8.12%, while the annualized current distribution rate is 9.85%, showcasing the fund's competitiveness and attractiveness in yield distribution.
- Asset Management Scale: As of February 28, 2026, Lazard Asset Management manages client assets totaling $277.7 billion, underscoring its strong position and influence in the global asset management market.
See More
Lazard Fund Confirms Monthly Distribution of $0.15340
- Monthly Distribution Confirmation: Lazard Global Total Return and Income Fund confirms a monthly distribution of $0.15340 per share, payable on April 22, 2026, indicating the fund's ongoing cash flow and stable income distribution strategy.
- Distribution Source Analysis: The current distribution is comprised of 72% return of capital, suggesting pressure on investment income, which may affect investor expectations regarding future earnings.
- Annual Return Rate: As of February 28, 2026, the fund's annualized total return stands at 8.12%, demonstrating relative competitiveness in the market, although the diversity of distribution sources may raise concerns among investors.
- Asset Management Scale: As of February 28, 2026, Lazard Asset Management manages a total of $277.7 billion in client assets, reflecting its strong position and market influence in the global asset management sector.
See More
LAZARD GLOBAL TOTAL RETURN AND INCOME FUND ANNOUNCES MONTHLY DISTRIBUTION AND PROVIDES ESTIMATED SOURCES FOR FEBRUARY'S DISTRIBUTION
Monthly Distribution Announcement: Lazaard Global Total Return and Income Fund has declared its monthly distribution for February.
Estimated Sources of Distribution: The announcement includes details on the estimated sources of the distribution.
See More
Lazard CEO Exercises Options, Significantly Reduces Stock Holdings
- Transaction Overview: Lazard's Asset Management CEO Christopher Hogbin exercised 48,332 options and sold 11,829 shares of common stock between March 18 and 19, 2026, with a transaction value of approximately $474,000, reflecting direct management of liquidity needs.
- Impact on Holdings: This transaction reduced Hogbin's direct common stock holdings by 75.5% to 11,829 shares, although he retains 260,989 restricted stock units (RSUs), indicating alignment with shareholder interests despite the reduction.
- Financial Performance Analysis: While Lazard's financial advisory segment saw a 4% sales increase and asset management grew by 7% in 2026, earnings fell by 19% in 2025, indicating that strong sales growth did not translate into profitability.
- Market Reaction and Outlook: Hogbin's stock closed on March 27 about 31% below its February peak, which may affect investor confidence in the company's future performance, despite the asset management segment reporting record revenue growth in Q4 2025.
See More
Lazard CEO Reduces Stock Holdings by 50%
- Transaction Overview: Lazard's Asset Management CEO Christopher Hogbin sold 11,829 shares of common stock between March 18 and 19, 2026, at a weighted average price of $40.04, totaling approximately $474K, which represents a 50% reduction in direct holdings, indicating a cautious outlook on the company's future.
- Options Exercise Details: The transaction involved the exercise of 48,332 options with an immediate sale of a portion of the stock, all conducted directly without indirect entities, reflecting the executive's transparency and compliance in market activities.
- Financial Performance Analysis: Despite Lazard's financial advisory segment achieving a 4% sales increase and asset management sales rising by 7% in 2026, the earnings per share fell by 19% in 2025, highlighting pressure on the company's profitability.
- Market Reaction and Outlook: As of March 27, 2026, Lazard's stock price was down 31% from its February high, which may affect investor confidence in its future performance, particularly in light of the insider selling, potentially leading to decreased market interest in its shares.
See More
U.S.-Iran Tensions Ease, Stock Market Rallies
- Market Rally: President Trump announced ongoing talks with Iran and postponed strikes on Iranian energy sites, leading to significant gains in the S&P 500 and Dow, creating a 'risk-on' environment favorable for financial firms and enhancing market performance in the asset management sector.
- Asset Management Benefits: The stock market rebound has increased the value of assets under management (AUM) for asset management companies, a key performance metric, particularly as investment banks and brokerages like Lazard and BGC saw their shares rise by 2.8% and 3%, respectively, boosting market optimism about their prospects.
- Energy Price Decline: The easing of geopolitical tensions has caused Brent crude oil prices to fall by over 7%, which not only reduces energy costs but may also stimulate economic activity, further driving growth in financial markets.
- BGC Stock Performance: BGC's shares have risen 8.3% year-to-date, although they remain 10.7% below their 52-week high of $10.85; however, the market's increased confidence in its future performance reflects investor optimism about potential economic recovery.
See More
Lazard Fund Confirms Monthly Distribution of $0.15340
- Monthly Distribution Confirmation: Lazard Global Total Return and Income Fund confirms a monthly distribution of $0.15340 per share, payable on April 22, 2026, demonstrating the fund's ongoing cash flow capability and commitment to shareholders.
- Distribution Source Analysis: The distribution comprises net investment income, short-term and long-term capital gains, and return of capital, with a significant 72% sourced from capital return, indicating pressure on investment returns and reliance on capital.
- Annual Return Performance: As of February 28, 2026, the fund's average annual total return over five years stands at 8.12%, while the annualized current distribution rate is 9.85%, showcasing the fund's competitiveness and attractiveness in yield distribution.
- Asset Management Scale: As of February 28, 2026, Lazard Asset Management manages client assets totaling $277.7 billion, underscoring its strong position and influence in the global asset management market.
See More
Lazard Fund Confirms Monthly Distribution of $0.15340
- Monthly Distribution Confirmation: Lazard Global Total Return and Income Fund confirms a monthly distribution of $0.15340 per share, payable on April 22, 2026, indicating the fund's ongoing cash flow and stable income distribution strategy.
- Distribution Source Analysis: The current distribution is comprised of 72% return of capital, suggesting pressure on investment income, which may affect investor expectations regarding future earnings.
- Annual Return Rate: As of February 28, 2026, the fund's annualized total return stands at 8.12%, demonstrating relative competitiveness in the market, although the diversity of distribution sources may raise concerns among investors.
- Asset Management Scale: As of February 28, 2026, Lazard Asset Management manages a total of $277.7 billion in client assets, reflecting its strong position and market influence in the global asset management sector.
See More
LAZARD GLOBAL TOTAL RETURN AND INCOME FUND ANNOUNCES MONTHLY DISTRIBUTION AND PROVIDES ESTIMATED SOURCES FOR FEBRUARY'S DISTRIBUTION
Monthly Distribution Announcement: Lazaard Global Total Return and Income Fund has declared its monthly distribution for February.
Estimated Sources of Distribution: The announcement includes details on the estimated sources of the distribution.
See More
