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Lazard (LAZ) Reports Sequential Increase of 3% in May AUM
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Lazard Ltd. (LAZ - Free Report) recorded a 3.1% rise in preliminary assets under management (AUM) as of Apr 30, 2020, from the prior month. Total AUM was $210.9 billion, up from the April 2020 figure of $204.6 billion.
May AUM displayed a $7.5-billion market appreciation and a favorable foreign exchange impact of $1 billion. The positives were partially offset by net outflows of $2.2 billion.
Lazard’s equity AUM at the end of May grew 3.1% from the prior month to $170.6 billion. Also, other assets rose 1.3% to $4.2 billion. Further, fixed income AUM climbed 3.1% on a sequential basis to $36 billion.
Lazard is well-positioned to grow organically on strength of its Financial Advisory and Asset Management segments. However, the absence of continued growth in equity markets and stringent regulations remain headwinds.
Shares of the company have lost 23.5% over the past six months compared with a 2.6% decline of the industry.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $617.6 billion for May 2020. Results displayed a 3% increase from $599.4 billion recorded as of Apr 30, 2020. Lower net outflows and a strong market performance led to the upsurge. However, the reported figure declined 11.1% year over year.
AllianceBernstein Holding L.P. (AB - Free Report) announced preliminary April-end AUM of $596 billion increased 3.5% from the prior month. Market appreciation and total firm-wide net inflows primarily drove the rise.
Invesco (IVZ - Free Report) announced preliminary May-end AUM of $1,142.5 billion, indicating a 2.1% increase from the previous month. The rise was driven by favorable market returns, which in turn led to an increase in AUM by $33 billion. However, FX lowered AUM by $1.4 billion.
5 Stocks Set to Double
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Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Lazard (LAZ) Reports Sequential Increase of 3% in May AUM
Lazard Ltd. (LAZ - Free Report) recorded a 3.1% rise in preliminary assets under management (AUM) as of Apr 30, 2020, from the prior month. Total AUM was $210.9 billion, up from the April 2020 figure of $204.6 billion.
May AUM displayed a $7.5-billion market appreciation and a favorable foreign exchange impact of $1 billion. The positives were partially offset by net outflows of $2.2 billion.
Lazard’s equity AUM at the end of May grew 3.1% from the prior month to $170.6 billion. Also, other assets rose 1.3% to $4.2 billion. Further, fixed income AUM climbed 3.1% on a sequential basis to $36 billion.
Lazard is well-positioned to grow organically on strength of its Financial Advisory and Asset Management segments. However, the absence of continued growth in equity markets and stringent regulations remain headwinds.
Shares of the company have lost 23.5% over the past six months compared with a 2.6% decline of the industry.
Lazard currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $617.6 billion for May 2020. Results displayed a 3% increase from $599.4 billion recorded as of Apr 30, 2020. Lower net outflows and a strong market performance led to the upsurge. However, the reported figure declined 11.1% year over year.
AllianceBernstein Holding L.P. (AB - Free Report) announced preliminary April-end AUM of $596 billion increased 3.5% from the prior month. Market appreciation and total firm-wide net inflows primarily drove the rise.
Invesco (IVZ - Free Report) announced preliminary May-end AUM of $1,142.5 billion, indicating a 2.1% increase from the previous month. The rise was driven by favorable market returns, which in turn led to an increase in AUM by $33 billion. However, FX lowered AUM by $1.4 billion.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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