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LM

Legg Mason Inc.

5/22/2013, 2:38 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Thursday, May 16, 1:28 PM Fund managers like BlackRock (BLK) and Legg Mason (LM) get ahead of what could be a "seismic reallocation of assets" by launching "ultra-short" funds with floating NAVs ahead of new money market regulations. These funds are different than the "ultra-short" funds which ran into trouble in 2008 in that their maturities are even shorter and they can only invest in high-grade debt. Somewhat similar ETF offerings: SHV, MINT, BIL, PVI, GSY, VRD, RAVI. 1 Comment [Financials]
Tuesday, April 30, 3:24 PM Investors look past the big drop in profits at Legg Mason (LM +0.8%), instead focusing o long-term outflows tumbling 80% (CC slides, pages 3 and 11) from last quarter to the lowest level since 2007. "To be sure, less negative is still negative," says CEO Joe Sullivan on the CC (transcript). "However, the improvement of net flows is meaningful and encouraging." Comment! [Financials]
Tuesday, April 30, 7:54 AM More on Legg Mason (LM) FQ4 earnings: Adjusted EPS of $0.52 off 41% from a year ago. AUM of $664.6B up 2.4% from Dec. 31, with gain coming from markets going up. Outflows were $1.8B. Operating expenses up 8.4% Y/Y. Conference call at 8 ET. (presentation slides). (PR) Comment! [Financials, Earnings]
Tuesday, April 30, 7:16 AM Legg Mason (LM): FQ4 EPS of $0.52 beats by $0.06. Revenue of $667.8M beats by $22.11M. (PR) Comment! [Earnings, Breaking News]
Tuesday, April 30, 12:05 AM Notable earnings before Tuesday’s open: ABFS, AET, AGCO, AMED, ARCO, AVP, BEN, BP, CIE, CMI, CNH, COCO, CRIS, CYNO, DBD, DDD, DPZ, ECL, EPD, ESV, EXAS, FCH, FIS, FLWS, GAS, GOV, HCLP, HCP, HEP, HNR, HOT, HRS, HUN, HW, IVZ, KLIC, LM, MCGC, MHP, MLM, MNTA, MPC, MPLX, MSO, MTG, MTOR, MWV, NEE, NI, NYX, ODP, OSK, PBI, PEG, PES, PFE, ROC, SAVE, SIRI, TFX, THC, TRI, TRW, UBS, UDR, VLO, VSH, WEC, X, XYL, ZTS Comment! [Earnings]
Monday, April 29, 5:30 PM Notable earnings before Tuesday’s open: ABFS, AET, AGCO, AMED, ARCO, AVP, BEN, BP, CIE, CMI, CNH, COCO, CRIS, CYNO, DBD, DDD, DPZ, ECL, EPD, ESV, EXAS, FCH, FIS, FLWS, GAS, GOV, HCLP, HCP, HEP, HNR, HOT, HRS, HUN, HW, IVZ, KLIC, LM, MCGC, MHP, MLM, MNTA, MPC, MPLX, MSO, MTG, MTOR, MWV, NEE, NI, NYX, ODP, OSK, PBI, PEG, PES, PFE, ROC, SAVE, SIRI, TFX, THC, TRI, TRW, UBS, UDR, VLO, VSH, WEC, X, XYL, ZTS 1 Comment [Earnings]
Tuesday, April 23, 1:33 PM Legg Mason, Inc. (LM) declares $0.13/share quarterly dividend, 18% increase from prior dividend of $0.11. Forward yield 1.71%. For shareholders of record June 11. Payable July 08. Ex-div date June 07. (PR) Comment! [Dividends]
Thursday, March 21, 1:06 PM Western Asset Management, the $462B bond unit of Legg Mason (LM), names Kenneth Leech to replace outgoing CIO Stephen Walsh. Western is battling to retain client money even as Walsh has engineered a major positive turnaround in fund performance over the last 5 years. Much of the money that has left was in low-yielding accounts like money-markets. Comment! [Financials]
Tuesday, March 5, 12:31 PM Stock fund inflows have had a good 2013, but the 12-month totals continue to run highly negative, notes Ryan Detrick. They're minus $130B through February, marking 6 consecutive years of outflows. 3 Comments
Tuesday, March 5, 12:00 PM Legg Mason (LM +3.1%) pops as CFO Pete Nachtwey tells the Citi Financial Services Conference (presentation) the company could trim the number of funds it offers and its 32 offices. He cautions, however, not to expect a repeat of the major cuts made over the last few years. Comment! [Financials, On the Move]
Wednesday, February 13, 12:37 PM Legg Mason (LM -1.5%) slides following the appointment of interim CEO Joe Sullivan as CEO. Investors who bought shares thanks to the activism of board member Nelson Peltz may be disappointed with the status quo choice, but, says Citi's Bill Katz, Mr. Sullivan is not without a solid track record in his time as interim head of the company. Comment! [Financials]
Wednesday, February 13, 5:26 AM Legg Mason (LM) will reportedly appoint interim CEO Joseph Sullivan to the job permanently, with an announcement expected today. Sullivan has been the acting chief since Mark Fetting quit in October. Legg Mason is also expected to name Jennison Associates Chairman Dennis Kass to the board as it seeks to bring in institutional asset management expertise and stop investor outflows.
Comment! [Financials]
Friday, February 1, 7:38 AM More on Legg Mason (LM) FQ3 earnings: AUM of $648.9B up 3% Y/Y. Client outflows of $7.5B during FQ3 offset by $5.7B in market performance. Adjusted operating margin of 19.8% vs. 21.2% in FQ2. Interim CEO: "We are disappointed with our results this quarter." The CEO search continues. Traders see something they like, shares +4.9% premarket. (PR) Comment! [Financials, Earnings, On the Move]
Friday, February 1, 7:06 AM Legg Mason (LM): FQ3 EPS of $0.7 misses by $0.13. Revenue of $673.9M misses by $3.55M. (PR) Comment! [Earnings, Breaking News, Financials]
Friday, February 1, 12:05 AM Notable earnings before Friday’s open: AON, BEAM, BEN, BPO, CVX, HCLP, IR, LM, LYB, MAT, MRK, NOV, NS, NWL, PRGO, TSN, WETF, XOM Comment! [Earnings]
Thursday, January 31, 5:30 PM Notable earnings before Friday’s open: AON, BEAM, BEN, BPO, CVX, HCLP, IR, LM, LYB, MAT, MRK, NOV, NS, NWL, PRGO, TSN, WETF, XOM Comment! [Earnings]