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$LAZ

7 stories mentioning LAZ

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Sectors

Sector Update: Financial Stocks Lean Lower Pre-Bell Wednesday

Financial stocks were leaning lower pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.Apollo Global Management (APO) has explored acquisitions of Japanese life insurance businesses, including units of T&D and Orix, as it seeks to expand its presence in Japan's insurance market, the Financial Times reported, citing people familiar with the matter. Shares of Apollo Global Management were nearly 3% lower premarket.Ares Management (ARES) has closed its Ares Pathfinder Fund III and Ares Pathfinder Fund III (Offshore), known together as Pathfinder III, at $8.5 billion in commitments, the company said. Shares of Ares Management were 0.5% lower pre-bell.Lazard (LAZ) reported preliminary assets under management of about $284.85 billion as of May 31, up from $275.37 billion in the prior month. Lazard stock was down 0.2% premarket.

$APO$ARES$FAS$FAZ$LAZ$XLF
Sectors

Sector Update: Financial Stocks Fall Pre-Bell Tuesday

Financial stocks were falling pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was marginally lower.XP (XP) shares were down more than 5% after the company reported Q1 results that fell short of analyst expectations.Lloyds Banking (LYG) is preparing to expand its US infrastructure financing business, including lending tied to the fast-growing data center sector, the Financial Times reported, citing people familiar with the matter. Lloyds Banking shares were 0.6% higher premarket.Bank of America (BAC) and Lazard (LAZ) are advising the owners of Fraikin Group on a potential sale that could value the French truck rental firm at up to 3 billion euros ($3.49 billion), Bloomberg News reported, citing people with knowledge of the matter. Lazard stock was up more than 1% pre-bell.

$BAC$FAS$FAZ$LAZ$LYG$XLF$XP
Research

Research Alert: CFRA Maintains Hold Rating On Shares Of Lazard, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target by $2 to $48, applying a forward P/E of 10.8x our 2027 earnings view vs. the peer average of 11.5x. We decrease our 2026 EPS by $0.58 to $3.02 and keep 2027's at $4.45. Our revenue forecasts are $3.33B (+10%) in 2026 and $3.93B (+18%) in 2027. While the Financial Advisory business saw a slight dip in revenue due to the timing of several large transactions, the Asset Management division posted its highest quarterly net inflows in nearly two decades. Strategically, LAZ announced the acquisition of Campbell Lutyens, a premier global private markets adviser, which will establish "Lazard CL" and position the firm as a leader in the high-growth primary and secondary advisory business. However, we note that, according to LSEG Data and Analytics, LAZ ranked #7 in global announced M&A deals, with a 2.2% decline in market share in Q1 2026. This continues a trend of market share erosion, and we believe LAZ must demonstrate an ability to reverse this trend to capitalize on an improving M&A cycle.

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Research

Research Alert: Laz Q1: Advisory Weakness And Margin Pressure Cloud Mixed Results

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Lazard Inc. (LAZ) posted mixed Q1 2026 results, with EPS of $0.42 missing consensus by $0.09 and falling 25% Y/Y, while revenue grew 5% to $673M but missed by $40M. Financial Advisory revenue declined 4% despite notable mandates, while Asset Management surged 17% on $9B net flows and AUM reaching $259B. We think the Financial Advisory underperformance is concerning as peers reported robust growth, suggesting LAZ faces company-specific challenges beyond timing, which raises competitive positioning questions. The announced Campbell Lutyens acquisition, expected to close in 2H 2026, will create a leading advisory platform with an anticipated revenue of ~$500M in 2027. However, profitability deteriorated, with the compensation ratio rising to 69.9% from 65.5% Y/Y, moving further from the 60% Lazard 2030 target, while operating margins compressed to 8.0%. We believe execution risks remain around integration and maintaining the compensation discipline necessary to achieve target margins.

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Wire

Lazard to Acquire Campbell Lutyens

Lazard (LAZ) said Thursday it has agreed to acquire private markets advisory firm Campbell Lutyens.The transaction features a base purchase price of roughly $575 million alongside up to $85 million in potential performance-based payments, the company said.The combined company will operate as a new unit named Lazard CL with Holcombe Green and Gordon Bajnai working as co-chief executive officers, Lazard said.The company also said it anticipates the deal will positively impact 2027 earnings and expects to close it within the year, subject to regulatory clearances.Shares of the company were down over 4% in Thursday premarket activity.Price: $45.49, Change: $-1.99, Percent Change: -4.19%

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Sectors

Sector Update: Financial Stocks Fall Premarket Monday

Financial stocks were falling premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.9%.The Direxion Daily Financial Bull 3X Shares (FAS) was 2.7% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 2.7%.Goldman Sachs (GS) stock was down more than 3% even after the company reported higher Q1 earnings and net revenue.Lazard (LAZ) shares were down more than 1% after the company reported preliminary assets under management of approximately $259.2 billion as of March 31, compared with $277.7 billion the previous month.KKR (KKR) said its real estate arm plans to significantly ramp up property acquisitions in Japan, targeting a market it estimates at about 450 trillion yen ($2.8 trillion), as companies increasingly divest non-core assets, Bloomberg reported. KKR shares were 0.8% lower pre-bell.

$FAS$FAZ$GS$KKR$LAZ$XLF
US Markets

Wealth Brokers, Investment Banks Faced Uneven First-Quarter Activity, UBS Says

Wealth brokers and investment banks faced uneven market activity in the first quarter due to geopolitical uncertainty, UBS Securities said in client note sent Wednesday.For the first quarter, UBS is projecting earnings per share to be down 7% quarter on quarter and up 22% annually for wealth brokers. For investment banks, the broker is looking at a 29% slump in EPS on a quarterly basis and an 11% jump year over year."For wealth brokers, growth was tempered by lower March market levels, though retail trading picked up on volatility," UBS analysts, including Michael Brown, wrote. "Organic growth was solid versus expectations, with the setup improving into (2026)."Meanwhile, momentum faded for investment banks during the quarter as pipelines shrank from the year end, "with some deals likely paused pending macro clarity, creating an activity air pocket," Brown said.Late Tuesday, the US and Iran agreed to a two-week ceasefire. The war, which began at the end of February, spread across the Middle East and curtailed shipments through the crucial Strait of Hormuz.UBS named Charles Schwab (SCHW) and Stifel Financial (SF) as its top picks heading into the first-quarter earnings season, saying Evercore (EVR) is "favorably positioned." Moelis (MC), Lazard (LAZ), and Raymond James Financial (RJF) are expected to "lag on a relative basis," according to the brokerage.UBS upgraded LPL Financial (LPLA) to buy, citing an attractive valuation.UBS lowered its price targets for wealth brokers and investment banks by 8% and 2% on average, respectively.The brokerage expects artificial intelligence to be a key topic at the upcoming earnings season for wealth brokers."In the wealth space, we expect AI to improve advisor productivity, though see risks to sweep cash economics and to market share of advised assets," Brown said. "Ultimately, we see these threats as slower moving than the bears think and see forward-looking firms as well positioned to adapt and thrive."

$EVR$LAZ$LPLA$MC$RJF$SCHW$SF