Recently, Lazard's asset management segment appears to be weighing the stock down.
Narrow-moat Lazard's second-quarter results and recent share price reflect that it's nearly as much of an asset management firm as a financial advisory investment bank. Overall second-quarter results were higher than we expected, with the company reporting record quarterly and first-half net revenue of $758 million and $1.513 billion, respectively. Financial advisory revenue of $415 million was 23% higher than the 2016 to 2017 quarterly average. Other investment banks have also reported strong a...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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