Lazard's (LAZ) February AUM Improves 1.7% on Upbeat Market [Yahoo! Finance]
Virtus Investment Partners, Inc. (VRTS)
Last virtus investment partners, inc. earnings: 5/1 07:00 am
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Source: Yahoo! Finance
This indicates a 1.7% increase from $243.8 billion as of Jan 31, 2024. The improvement in AUM balance for the month of February was driven by a market appreciation of $7 billion. However, it was partially offset by net outflows of $2 billion and foreign exchange depreciation of $0.8 billion. In February, Lazard's equity assets increased 2.3% from the prior month's level to $192.7 billion. Nevertheless, both fixed income and other income declined marginally to $47.3 billion and $8.08 billion, respectively, from the previous month. Lazard's strong AUM balance, coupled with innovative investment strategies and solutions, is expected to support its top line. We project average AUM and revenues to rise 21.2% and 14.5%, respectively, in 2024. A well-laddered debt maturity profile and impressive cost-control efforts are other positives. However, the current challenging macroeconomic environment and high reliance on financial advisory fees for most of its revenues are major concerns.
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News
- Virtus Investment Partners Announces Financial Results for First Quarter 2024Business Wire
- Will Virtus (VRTS) Beat Estimates Again in Its Next Earnings Report? [Yahoo! Finance]Yahoo! Finance
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- There's A Lot To Like About Virtus Investment Partners' (NYSE:VRTS) Upcoming US$1.90 Dividend [Yahoo! Finance]Yahoo! Finance
- After Plunging -10.64% in 4 Weeks, Here's Why the Trend Might Reverse for Virtus (VRTS) [Yahoo! Finance]Yahoo! Finance
VRTS
Earnings
- 4/26/24 - In-Line
VRTS
Sec Filings
- 4/26/24 - Form 8-K
- 4/4/24 - Form ARS
- 4/3/24 - Form DEFA14A
- VRTS's page on the SEC website