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Legg Mason Inc. (LM)

- NYSE
  • Jan. 27, 2013, 9:18 AM
    The money management business inspires a lively exchange at the Barron's Roundtable, with Brian Rogers' liking of Legg Mason (LM) as either a value or takeover play getting the thumbs up from Mario Gabelli, but a razzing from Bill Gross who says the stock-picking industry is in secular decline thanks to ETFs. Gabelli to Gross: "If you want to preach in favor of mindless investing, we don't have to stand by."
    | Jan. 27, 2013, 9:18 AM | 39 Comments
  • Jan. 22, 2013, 3:19 PM
    Something may be up with Legg Mason (LM +2.5%), speculates Susquehanna's Doug Sipkin, after the company confirms a $734M charge for asset write-downs and preps an exchange offer for certain of its notes. The firm has been a frequent focus of takeover talk. "While we remain bearish, we do acknowledge the odds of some sort of corporate action are increasing," says Sipkin.
    | Jan. 22, 2013, 3:19 PM | Comment!
  • Jan. 15, 2013, 11:26 AM
    T. Rowe Price (TROW) and Legg Mason (LM) get the go-ahead from the SEC to offer actively-managed ETFs. Both will likely move fast, says Morningstar's Robert Goldsborough, expecting products from both before year's end. Actively-managed ETFs account for less than 1% of the $1.4T ETP market.
    | Jan. 15, 2013, 11:26 AM | 1 Comment
  • Jan. 11, 2013, 10:42 AM
    A buyout of Legg Mason (LM) is an unlikely prospect say both Citi's William Katz and Nomura's Glenn Schorr, following yesterday's report the board was approached about such. Too complex a transaction, says Katz, who believes CEO Fetting departed only after it became clear a buyout wasn't a possibility. Schoor focuses on the level of debt: Too high to allow an LBO.
    | Jan. 11, 2013, 10:42 AM | Comment!
  • Jan. 10, 2013, 12:40 PM
    Legg Mason (LM +5.7%) pops on a report it's been approached by some senior managers and P-E firms about a buyout. The board turned away the feelers at least until the company has a new CEO, according to sources. Privatizing the company is easier said then done thanks to the high level of firm debt compared to industry peers.
    | Jan. 10, 2013, 12:40 PM | Comment!
  • Dec. 12, 2012, 4:52 PM
    Legg Mason (LM) announced change in payment date of quarterly dividend to Dec. 28 from previously announced Jan. 07. However, the records date remains unchanged at Dec. 12. (PR)
    | Dec. 12, 2012, 4:52 PM | Comment!
  • Oct. 26, 2012, 2:50 PM
    Legg Mason (LM) beat estimates in Q3, but all is not well, says Susquehanna's Doug Sipkin. Board member Nelson Peltz's insistence on buybacks is "hurting recovery prospects," says Sipkin, as every dollar used to purchase shares is a dollar that must be otherwise raised to rebuild the franchise. On deck as organic growth deteriorates could be a Moody's downgrade.
    | Oct. 26, 2012, 2:50 PM | Comment!
  • Oct. 26, 2012, 7:23 AM
    Legg Mason (LM): FQ2 EPS of $0.75 beats by $0.20. Revenue of $640.3M (-4% Y/Y) beats by $4M. (PR)
    | Oct. 26, 2012, 7:23 AM | Comment!
  • Oct. 26, 2012, 12:10 AM
    Notable earnings before Friday’s open: ACI, AON, ARLP, AXL, B, CMCSA, CVH, DAN, DLR, EGO, ERIC, GT, HMSY, IMGN, IPG, KKR, LM, LYB, MCO, MRK, OHI, OSK, QSII, TASR, TCB, VTR, WY
    | Oct. 26, 2012, 12:10 AM | Comment!
  • Oct. 25, 2012, 5:30 PM
    Notable earnings before Friday’s open: ACI, AON, ARLP, AXL, B, CMCSA, CVH, DAN, DLR, EGO, ERIC, GT, HMSY, IMGN, IPG, KKR, LM, LYB, MCO, MRK, OHI, OSK, QSII, TASR, TCB, VTR, WY
    | Oct. 25, 2012, 5:30 PM | Comment!
  • Sep. 11, 2012, 11:59 AM
    Investors cheer the departure of CEO Mark Fetting from Legg Mason (LM +5.6%) amid indications he was given a push through the door. Taking over in January 2008, Fetting was effective at cutting costs, but it is felt different leadership is needed as the company turns its focus to growth, according to CFO Pete Nachtwey.
    | Sep. 11, 2012, 11:59 AM | Comment!
  • Sep. 11, 2012, 7:24 AM
    Legg Mason (LM) Chairman and CEO Mark Fetting announces his retirement, effective October 1. Joe Sullivan - current Head of Global Distribution - will become Interim CEO while the Board conducts a search for a permanent replacement. (PR)
    | Sep. 11, 2012, 7:24 AM | Comment!
  • Jul. 27, 2012, 12:48 PM
    Shares of Legg Mason (LM -2%) swing lower after the company missed FQ1 estimates this morning. The asset manager posted double-digit revenue declines amid a smaller pool of assets under management and continued outflows of investor cash. The company has struggled with a dwindling asset base due to poor performance, having not seen any net inflows of investor funds since 2007.
    | Jul. 27, 2012, 12:48 PM | Comment!
  • Jul. 27, 2012, 7:42 AM
    Legg Mason (LM): Q2 EPS of $0.25 may not be comparable to consensus of $0.30. Revenue of $631M (-12% Y/Y) misses by $14M. (PR)
    | Jul. 27, 2012, 7:42 AM | Comment!
  • Jul. 27, 2012, 12:05 AM
    Notable earnings before Friday’s open: ACI, AON, CCJ, CFX, CPN, CVH, CVX, DHI, DTE, EGO, FNFG, HP, KKR, LM, LYB, MRK, NEM, NVE, OHI, TOT, TRP, WY
    | Jul. 27, 2012, 12:05 AM | Comment!
  • Jul. 26, 2012, 5:30 PM
    Notable earnings before Friday’s open: ACI, AON, CCJ, CFX, CPN, CVH, CVX, DHI, DTE, EGO, FNFG, HP, KKR, LM, LYB, MRK, NEM, NVE, OHI, TOT, TRP, WY
    | Jul. 26, 2012, 5:30 PM | Comment!
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Company Description
Legg Mason Inc is an asset management company. The Company through its subsidiaries provides related financial services to individuals, institutions, corporations and municipalities.
Sector: Financial
Country: United States