36.89 0.00 (0.00%)
After hours: 4:57PM EDT
|Bid||36.85 x 800|
|Ask||37.38 x 800|
|Day's Range||35.66 - 36.90|
|52 Week Range||23.25 - 39.78|
|Beta (3Y Monthly)||1.61|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 23, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||1.36 (4.07%)|
|1y Target Est||35.91|
NEW YORK, May 21, 2019 /PRNewswire/ -- Precidian Investments today announced that the U.S. Securities and Exchange Commission (SEC) granted exemptive relief for Precidian's non-transparent exchange-traded fund (ETF) structure, ActiveShares®. Once approved for listing and trading on a national stock exchange, funds utilizing the ActiveShares intellectual property will be able to offer semi-transparent active portfolios with the tax efficiency, cost effectiveness and intraday trading capabilities of an ETF. "ActiveShares will fit seamlessly onto existing platforms and into investment models that utilize ETFs.
This isn’t the first time Peltz has wanted to fix Legg Mason. The stock climbed more than 75% the last time he was on the board.
Legg Mason Inc NYSE:LMView full report here! Summary * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is low for LM with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding LM totaled $7.72 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is strong relative to the trend shown over the past year, but is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
The well-known activist investor has reached a deal with Legg Mason Inc. that will net his fund three seats on the money manager's board of directors.
The move comes days after reports that Trian, which has a 4.5% stake in Legg Mason, might push for changes at the mutual fund company to boost returns. Trian will identify a third independent director to be nominated at the company's annual meeting of shareholders, the company said in a statement.
Legg Mason Inc. said late Monday it has appointed Nelson Peltz and Ed Garden of activist hedge fund Trian Fund Management to the company's board, effective immediately, increasing the size of the board to 12 from 10. Peltz is Trian's chief executive officer and founding partner, and Garden is Trian's chief investment officer and also a founding partner. Trian Partners owns about 4.5% of Legg Mason's stock. Trian will also get to nominate a third independent director who, pending board approval, will be included as a director nominee on the slate of nominees recommended by the board at the annual meeting. The board will appoint or nominate at least two other independent candidates, the company said. The three new independent directors will replace three incumbent directors, two of whom have reached the company's retirement-age guidelines, it said.The Wall Street Journal on Friday reported that Legg Mason was nearing a settlement with Trian to avoid a proxy fight, with Trian pressuring for cost cuts and other measures.
BALTIMORE, May 20, 2019 /PRNewswire/ --Legg Mason, Inc. (LM) announced today that it has increased the size of its Board of Directors from 10 to 12 members and has appointed Nelson Peltz and Ed Garden of Trian Fund Management, L.P. ("Trian Partners") to the Company's Board of Directors, effective immediately. Mr. Peltz is Chief Executive Officer and a Founding Partner and Mr. Garden is Chief Investment Officer and a Founding Partner of Trian Partners.
Trian Partners’ Nelson Peltz and Ed Garden were granted board seats at Legg Mason as the asset manager agreed to expand its board to 12 directors to avoid a proxy fight by the shareholder activist fund. Mr Peltz, chief executive of Trian, is returning to the company after a previous stint, where he held a board seat from October 2009 until the end of 2014. During that time, the shares climbed 93.3 per cent. Trian sold most of its 9.9 per cent holding in 2016 to a Singapore firm.
Nelson Peltz's Trian Fund Management LP is nearing a settlement with Legg Mason Inc that will give the activist hedge fund three or four seats on the mutual fund's board and avoid a proxy fight, the Wall ...
Nelson Peltz's firm, Trian Fund Management LP, is considering waging an activist fight to get Baltimore-based Legg Mason to improve its financial results, according to the Wall Street Journal.
Activist investor Trian reportedly held discussions with Legg Mason encouraging the firm to cut costs and improve margins, people familiar with the matter told The Wall Street Journal. The Baltimore-based investment firm, with $758 billion in assets under management, has struggled with changing trends in the investment industry. Shares of Legg Mason LM popped after The Wall Street Journal reported that Nelson Peltz's Trian may wage a fight to turn around the struggling investment firm.
Legg Mason has narrowed the cost-savings goal for its restructuring plan and no longer plans to combine affiliate operations into the company's overall global business platform.
U.S. stock futures were lower Wednesday though sentiment was lifted by a softening of the rhetoric from Donald Trump in the U.S.-China trade war and suggestions that talks could resume in the coming weeks. Markets also were soothed by weaker-than-expected economic data from China that pointed to not only slowing growth in the world's second-largest economy but also a weakening bargaining position in Beijing's trade standoff with Washington. With President Trump describing the dispute with China as "a little squabble" on Tuesday, as well as confirmation from the U.S. Treasury that Secretary Steven Mnuchin will soon travel to Beijing to resume trade talks, markets were happy to add risk following Tuesday's gains on Wall Street.
Nelson Peltz' Trian Fund Management LP may push Legg Mason Inc. to implement changes to boost returns, a person familiar with the matter said on Tuesday, the second time in 10 years that Trian has targeted the mutual fund company. The two sides have discussed cutting costs, the source said, and Legg Mason chairman, president and chief executive officer Joseph Sullivan said on an earnings call on Monday that the company plans to manage costs more effectively to improve profitability. Legg Mason's share price has fallen 15.5 percent in the last year.
The fashion retailer’s shares sold off sharply Tuesday morning despite a 10% dividend increase announced before the opening bell.
Legg Mason's (LM) assets under management (AUM) inched up 1.3% in April, supported by increase in alternative, equity and fixed income AUM.
Legg Mason's (LM) fourth-quarter fiscal 2019 (ended Mar 31) results indicate lower revenues, reduced expenses and improvement in assets under management (AUM).
Legg Mason (NYSE:LM) reported its quarterly earnings figures after the close of the market today, bringing in a profit that surpassed the Wall Street consensus estimate, yet its revenue total was below the mark for the three-month period-LM stock remained unchanged late Monday afternoon.The Baltimore, Md.-based investment management firm said that for its fourth quarter of its fiscal 2019, it amassed adjusted earnings of 56 cents per share, which was about 2 cents ahead of the Wall Street guidance of analysts, who predicted adjusted earnings of 54 cents per share.Legg Mason added that its revenue for the three-month period tallied up to $692.6 million, missing the outlook of $694.6 million. The company also included a quarterly dividend that increased by roughly 18% when compared to the year-ago quarter to 40 cents per share.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"This quarter's results reinforce the benefits of diversification of our investment management platform across asset classes, with alternative and fixed income net inflows offset by decelerating equity net outflows," Joseph A. Sullivan, Chairman and CEO of Legg Mason said. "Our distribution platform contributed with a favorable inflection in retail net flows reflecting higher sales and slower redemptions.""We continue to focus on meeting evolving client demand by expanding client choice in investment strategies, vehicles and distribution access," he added. "Looking ahead, lead indicators of improving investment performance, ongoing product development, and increasing interest in alternative strategies bode well for organic growth prospects."LM stock was down roughly 2.5% during regular trading hours on Monday as the company readied itself to report its results. Shares were then largely unchanged after hours off the heels of a mixed financial performance from Legg Mason. More From InvestorPlace * 7 Dividend Stocks to Buy as the Trade War Reignites * 7 Dangerous Dividend Stocks to Stay Far Away From * 7 Cloud Stocks to Buy on Overcast Days Compare Brokers The post Legg Mason Earnings: LM Stock Unmoved on Mixed Q4 Results appeared first on InvestorPlace.