Lazard to acquire boutique Altamoda in France push

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.

Lazard (LAZ) appointed Dr. Marco Superina as head of investment banking for Switzerland, focusing on M&A and capital solutions. The hire aims to strengthen Lazard's presence in the DACH region and engage with Swiss corporate and financial communities. Lazard projects $4.6 billion revenue and $573.6 million earnings by 2029, requiring 12.6% yearly revenue growth. The company recently increased its share repurchase authorization by $200 million, despite softer Q2 2026 earnings. Analysts have mixed

Lazard (LAZ) reported a 91% year-over-year drop in second-quarter adjusted profit, missing Wall Street expectations of 35 cents per share. The firm said it replaced over 80 managing directors from 2023 to 2025, affecting 40% of roles, and revenue fell 9% to $786 million. Asset management revenue rose 23% to $331 million, with $285 billion in AUM.

Lazard (LAZ) reported Q2 2026 revenue of $807.7 million, down 1.2% year over year, with gross profit at $245.3 million and operating profit at $37.6 million. Net income attributable to common shareholders fell to $4.8 million, and diluted EPS to $0.03. Operating cash flow was $203.4 million, and cash totaled $1.1 billion.