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Recap: Legg Mason Q1 Earnings

Benzinga Insights
·1 min read

Shares of Legg Mason (NYSE:LM) were flat in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 5.33% over the past year to $0.71, which beat the estimate of $0.64.

Revenue of $666,186,000 declined by 5.55% from the same period last year, which missed the estimate of $677,750,000.

Looking Ahead

Legg Mason hasn't issued any earnings guidance for the time being.

View more earnings on LM

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

52-week high: $50.70

Company's 52-week low was at $33.99

Price action over last quarter: Up 0.30%

Company Profile

Legg Mason provides investment management services for institutional and individual investors. The firm had $783.4 billion in managed assets at the end of June, spread among its equity (25% of total AUM), fixed-income (57%), alternatives (9%), and money market (9%) investment platforms. Legg Mason uses a multiaffiliate business model, with its single-largest affiliate, Western Asset Management, accounting for more than 60% of managed assets. Other major affiliates include ClearBridge Investments (more than 15% of AUM), Brandywine (less than 10%), and Clarion Partners (less than 10%). The remaining affiliates--Martin Currie, Royce & Associates, EnTrustPermal, QS Investors, and RARE Infrastructure--each account for 2% or less of Legg Mason's managed assets.

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