JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
NEW YORK - Lazard Asset Management (LAM) announced today the appointment of Eric Van Nostrand as the Global Head of Markets and Chief Economist, a position designed to enhance the firm’s investment strategies with advanced economic and market analysis. Van Nostrand, who previously served as Assistant Secretary of the Treasury for Economic Policy and Chief Economist at the US Treasury Department, brings a wealth of experience to his new role. According to InvestingPro data, LAM’s parent company Lazard Ltd maintains strong financial health with an impressive 90.05% gross profit margin and has consistently paid dividends for 21 consecutive years.
In his capacity at LAM, Van Nostrand will report directly to CEO Evan Russo and become a key member of the executive leadership team. His responsibilities will include leading economic and market analysis efforts, overseeing investment content development, and providing macro insights to guide investment decisions.
CEO Evan Russo expressed confidence in Van Nostrand’s ability to contribute to the firm’s success, citing the increasing complexity of global financial markets and the importance of actionable economic analysis in achieving investment outcomes. Russo highlighted Lazard’s commitment to deep research and investment acumen, which Van Nostrand’s expertise is expected to bolster.
Van Nostrand’s distinguished career includes managing systematic equity funds and serving as Head of Research for Multi-Asset Strategies at BlackRock. He is also a recipient of the Alexander Hamilton Award, the highest honor from the Treasury Department. His academic credentials include undergraduate degrees from the University of Pennsylvania and a JD from Yale Law School.
Expressing enthusiasm about his new role, Van Nostrand acknowledged Lazard’s reputation for generating alpha through rigorous investment research and analysis. He looks forward to contributing to the firm’s efforts to meet client investment goals.
Lazard, founded in 1848, is a leading financial advisory and asset management firm with global operations. LAM, a subsidiary of Lazard Ltd (NYSE: LAZ), manages approximately $231 billion in client assets as of April 30, 2025. The company, currently trading at a P/E ratio of 13.66 with a market capitalization of $4.09 billion, offers investors an attractive dividend yield of 4.61%. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value. This news is based on a press release statement from Lazard Asset Management.
In other recent news, Lazard Ltd reported its first-quarter financial results, revealing adjusted earnings per share (EPS) of $0.56, which surpassed JMP’s expectations of $0.30 and the consensus estimate of $0.31. However, Lazard’s revenue fell short of forecasts, coming in at $648 million compared to the anticipated $707.15 million. The company’s financial advisory revenues dropped by 17% year-over-year, while asset management revenues decreased by 4%. Despite these challenges, JMP analysts maintained a Market Outperform rating with a $55 price target, noting strong client engagement in both business segments. Additionally, Lazard’s shareholders approved the election of Peter Harrison and Dan Schulman to the board and endorsed the executive compensation package. The appointment of Deloitte & Touche LLP as the independent registered public accounting firm for 2025 was also ratified. The company continues to focus on strategic growth, including its expansion into global markets and product innovation.
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