Orszag Peter Richard sold (to issuer) 75,000 shares of LAZ

Lazard, Inc. (NYSE: LAZ) reported $290.3 billion in assets under management for August 2026, including market appreciation of $3.7 billion, net outflows of $1.8 billion, and FX appreciation of $1.5 billion. The figures are preliminary and subject to adjustment.

BlackRock, Inc. acquired 1.83 million shares of Lazard Inc (LAZ) at $43.23 per share, increasing its stake to 11.20% of outstanding shares. Lazard's stock is currently trading at $41.87, with a GF Value of $46.74, suggesting modest undervaluation. The company has a market cap of $4.08 billion and operates in financial advisory and asset management.

Lazard is acquiring boutique firm Altamoda, adding star dealmaker Grégoire Heuzé to its team in a move to strengthen its presence in France.

BlackRock, Inc. filed an amended Schedule 13G/A, reporting ownership of 10,871,335 shares (11.2%) of Lazard, Inc. (LAZ). BlackRock has sole voting power over 10,626,033 shares and sole dispositive power over all reported shares. No single client holds more than 5% of Lazard's outstanding common shares.

Stocks of Morningstar, Moody's, Goldman Sachs, Lazard, and StoneX rose 2.9%-3.3% after Fed Governor Waller signaled support for steady interest rates, citing disinflation trends. Waller noted PCE inflation dropped from 4.76% to 3.05% but warned of uncertainties. Market-implied odds for a September rate hike fell to 48.4%.

Lazard Inc. (LAZ) stock has fallen 14.1% in six months, underperforming peers like Virtu Financial (VIRT) and Jefferies Financial (JEF). Weak earnings, high costs, and macroeconomic uncertainty weigh on its outlook. Analysts revised 2026 earnings down 10.6%, though 2027 estimates show an 83.6% increase. The company's valuation is high, with a P/B ratio of 5.3X. Management targets long-term growth but near-term challenges persist.