Lazard (NYSE:LAZ) Global Total Return and Income Fund (LGI) stock has hit a 52-week high, reaching a price level of $17.89, signaling a period of strong performance for the fund. This milestone reflects a significant uptrend in the fund's market valuation, underpinned by a substantial 1-year change with an impressive gain of 30.09%. Investors have shown increased confidence in LGI's strategy and portfolio management, as evidenced by the stock's robust ascent to this new high over the past year. The fund's achievement is particularly noteworthy in the context of the broader market's performance, marking LGI as a standout in its category.
InvestingPro Insights
Lazard Global Total Return and Income Fund's (LGI) recent milestone of hitting a 52-week high is complemented by a noteworthy dividend yield, which stands at an attractive 10.1%, as of the latest data. This significant yield is a testament to the fund's commitment to rewarding shareholders, a commitment that has been consistent for 21 consecutive years. Investors looking for income-generating investments might find LGI's track record appealing.
In terms of financial health, however, it's important to note an InvestingPro Tip that LGI's short-term obligations currently exceed its liquid assets. This could indicate potential liquidity risks that investors may want to monitor closely. Additionally, with the fund trading near its 52-week high, the valuation implies a poor free cash flow yield, suggesting that the price investors are paying for each dollar of free cash flow is relatively high.
From a performance standpoint, LGI has been profitable over the last twelve months, reflecting a stable operational base. The fund's market capitalization stands at $231.63 million, with a P/E ratio of 9.22, which may be attractive to value-oriented investors. For those interested in exploring further, there are additional InvestingPro Tips available at https://www.investing.com/pro/LGI, providing deeper insights into LGI's financial metrics and investment potential.
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