LM - Legg Mason, Inc.

NYSE - NYSE Delayed Price. Currency in USD
37.75
-0.54 (-1.41%)
At close: 4:02PM EST
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Previous Close38.29
Open38.31
Bid37.73 x 800
Ask37.75 x 1200
Day's Range37.66 - 38.45
52 Week Range26.36 - 40.27
Volume724,128
Avg. Volume600,316
Market Cap3.277B
Beta (5Y Monthly)1.48
PE Ratio (TTM)N/A
EPS (TTM)-0.68
Earnings DateOct 21, 2019 - Oct 27, 2019
Forward Dividend & Yield1.60 (4.27%)
Ex-Dividend DateDec 21, 2019
1y Target Est40.55
  • Will Legg Mason (LM) Beat Estimates Again in Its Next Earnings Report?
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    Will Legg Mason (LM) Beat Estimates Again in Its Next Earnings Report?

    Legg Mason (LM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

  • A $453 Billion Bond Manager Is Shifting Bets From India to China
    Bloomberg

    A $453 Billion Bond Manager Is Shifting Bets From India to China

    (Bloomberg) -- Western Asset Management Co. is reducing its Indian government bond holdings as tensions around a new citizenship law and the Kashmir region cloud the economic outlook.The $453 billion investor, an affiliate of Legg Mason Inc., is diverting some of its funds into longer-dated Malaysian and Chinese debt, according to Desmond Soon, head of investment management for Asia ex-Japan. It has an overweight position in India bonds.The initial market euphoria from Prime Minister Narendra Modi’s re-election last year is wearing thin as economic growth stutters and a policy making it harder for Muslim migrants to get citizenship stirs protests. Foreign holdings of Indian sovereign debt have dropped to near a three-month low.“It certainly distracts Prime Minister Modi’s government from making the necessary economic policy and reform to focus on the economy,” Soon, a 30-year investment veteran, said in Singapore. “We are in the process of reducing India somewhat.”Angry protests have erupted in many Indian states, forcing the government to send in hundreds of soldiers to aid local police. Modi also stoked tension in Kashmir, the nation’s only Muslim-majority state, when he ended seven decades of autonomy for the area in 2019.The changes, part of the election promises made by Modi’s Hindu nationalist government, have created mistrust among Muslims, who form about 14% of the population.Read More: Microsoft CEO Nadella Calls India’s Citizenship Limits ‘Sad’Despite five interest-rate cuts last year to shore up growth, yields on 10-year India bonds remain some of the highest in Asia at 6.64%.A recent rally in the market, spurred by bond purchases from the Reserve Bank of India, has stalled as inflation surges to a five-year high. Stagflation looms as the economy grinds toward its slowest expansion in more than a decade.The central bank will probably refrain from cutting interest rates in the coming months, and that along with the deteriorating macro environment, is probably why global funds are turning away from Indian bonds, said Ek Pon Tay, a portfolio manager for emerging-market fixed-income at BNP Paribas Asset Management.“An expected increase in the fiscal deficit and economic growth not yet rebounding from below-trend levels mean bond yields will be under further upward pressure,” Tay said.Malaysia SwitchWestern Asset is buying Malaysian debt as the oil exporter will benefit medium term from higher energy prices, Soon said.Gobal investors may also pour another $150 billion to $200 billion into Chinese bonds as the debt is gradually included in global benchmarks, he said.Other Investment ViewsDollar bond sales from companies in Asia, excluding Japan, to exceed last year’s issuance in 2020 -- driven by Chinese companies seeking debt to growFund is overweight Indonesian and Philippines local currency bondsAsian countries appear poised to embark on fiscal easing, including Korea, Singapore, Hong Kong and Taiwan(Updates with BNP comments in ninth paragraph)\--With assistance from Chester Yung and Kartik Goyal.To contact the reporters on this story: Ruth Carson in Singapore at rliew6@bloomberg.net;Ameya Karve in Singapore at akarve@bloomberg.netTo contact the editors responsible for this story: Tan Hwee Ann at hatan@bloomberg.net, Cormac MullenFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Legg Mason (LM) December AUM Up on Fixed Income Net Inflows
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    Legg Mason (LM) December AUM Up on Fixed Income Net Inflows

    Increase in Legg Mason's (LM) asset under management balance is likely to continue supporting its top-line growth.

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  • LM or APO: Which Is the Better Value Stock Right Now?
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  • How Did Legg Mason, Inc. (LM) Perform In Comparison to Hedge Fund Favorites in 2019?
    Insider Monkey

    How Did Legg Mason, Inc. (LM) Perform In Comparison to Hedge Fund Favorites in 2019?

    Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]

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  • PR Newswire

    Legg Mason Reports Assets Under Management and Flows for December 2019

    Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management (AUM) of $803.5 billion as of Dec. 31, 2019. This month's AUM included long-term net outflows of $1.5 billion, driven by equity net outflows of $3.6 billion, partially offset by fixed income net inflows of $1.3 billion and alternative net inflows of $0.8 billion. This month's equity outflows included a previously reported $2.8 billion redemption. Realizations totaled $0.3 billion. AUM also included liquidity net inflows of $3.7 billion and positive foreign exchange of $2.7 billion.

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  • Franklin Resources' (BEN) December AUM Up on Net Market Gains
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    Franklin Resources' (BEN) preliminary assets under management (AUM) of $698.3 billion for December up from the prior month, driven by net market gains.

  • Improve Your Retirement Income with These 3 Top-Ranked Dividend Stocks - January 09, 2020
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  • Why Legg Mason (LM) is a Great Dividend Stock Right Now
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    Why Legg Mason (LM) is a Great Dividend Stock Right Now

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  • Zacks.com featured highlights include: Navios Maritime Partners, Qiwi, DXP Enterprises, Legg Mason and Schweitzer-Mauduit International
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    Zacks.com featured highlights include: Navios Maritime Partners, Qiwi, DXP Enterprises, Legg Mason and Schweitzer-Mauduit International

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  • Improve Your Retirement Income with These 3 Top-Ranked Dividend Stocks - January 03, 2020
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  • LM vs. EV: Which Stock Is the Better Value Option?
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    LM vs. EV: Which Stock Is the Better Value Option?

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  • How to Maximize Your Retirement Portfolio with These Top-Ranked Dividend Stocks - December 27, 2019
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  • T. Rowe’s $1 Trillion Answer to Claims Stock-Picking Is Dead
    Bloomberg

    T. Rowe’s $1 Trillion Answer to Claims Stock-Picking Is Dead

    (Bloomberg) -- Stock pickers may be under siege after decades of ruling Wall Street, but not every old-school champion of active mutual funds is losing ground to cheaper rivals tracking indexes.T. Rowe Price Group Inc. is one of the rare winners.The 82-year-old company, which built its reputation sifting standouts and laggards in U.S. equities, has seen assets under management swell to just over $1 trillion from around $400 billion at the start of the decade. That means it stayed abreast of the long bull market even as peers including Franklin Resources Inc. and Legg Mason Inc. suffered outflows and revenue declines.With its focus on plain old stock funds in retirement accounts, Baltimore-based T. Rowe is an unlikely success in an era when the likes of BlackRock Inc. and Vanguard Group are luring investors looking to make low-cost bets on broadly rising markets. But the firm, whose informal motto is “get rich slow,” has thrived by establishing itself in an area that’s yet to embrace exchange-traded funds.“They decided early on that they’d focus on one niche part of the market, and that’s really helped them,” said Greggory Warren, an analyst at Morningstar Inc. “Combined with their dedication to investment performance, they’ve done a lot of the right things historically.”About two-thirds of T. Rowe’s assets under management are held in retirement-related products. The firm started offering funds in company-sponsored defined contribution plans in 1974 and today sits among the top 10 providers of recordkeeping services for 401(k)s -- a role tracking employee investments in a company’s retirement plan. Its funds are also available on platforms managed by other providers.“Defined contribution is an important marketplace for us,” Chief Executive Officer Bill Stromberg said in an interview.About 4,600 retirement plan sponsors were using T. Rowe’s platform at the end of 2018, according to the company.“Those are sticky, high quality assets,” said Robert Lee, an analyst at Keefe Bruyette & Woods who rates T. Rowe’s own shares “market perform.”Index-tracking products such as exchange-traded funds aren’t as popular in retirement accounts like 401(k) plans, where their tax advantages aren’t relevant.T. Rowe’s strategy has helped the company secure net inflows in all but one of the five years through 2018; revenue rose 35% over the period. By contrast, Legg Mason saw outflows of more than $80 billion in its past four fiscal years. Franklin’s outflows were even deeper, with clients withdrawing more than $100 billion in its past four fiscal years.A Franklin spokesman declined to comment. A spokeswoman for Legg Mason said it “has sought to diversify its investment offerings in fixed income and equity categories, while adding alternative investment capabilities.”T. Rowe keeps a narrow focus on U.S. mutual funds -- a strategy that comes with trade-offs. The fund house obsesses over its cautious, meticulous investment process and long history, to the extent that it called its company mascot -- a bighorn sheep -- “Trusty” on fears that the original name “Lucky” would reflect badly on how it chooses stocks.One ex-staffer recalled toting a photo of founder Thomas Rowe Price Jr. on sales calls, displaying the image to institutional investors to illustrate the firm’s principles and history.The steady-as-she goes ethos is part of the investment process, and helped about 75% of the firm’s U.S. mutual funds do better than the median offering in their class over the past five years, according to Morningstar. It also competes on price, with about half of T. Rowe’s funds charging below the industry average, Morningstar data show.Stromberg has spent more than 30 years at the 7,000-person company, which he joined after a brief stint playing for the Philadelphia Eagles. It’s not uncommon to see portfolio managers for T. Rowe funds stay put for decades. Some financial advisers favor that consistency.The CEO is aware that the years ahead could be challenging, despite the firm’s successes.Passive investing continues to gather momentum. In August, assets in U.S. index-based equity mutual funds and exchange-traded funds topped those in active stock funds for the first time: $4.3 trillion compared with $4.2 trillion, respectively, according to Morningstar.Read more: End of Era: Passive Equity Funds Surpass Active in Epic ShiftWhile it may help with stock-picking T. Rowe’s conservative culture means it can miss out on major industry shifts, such as the growth of index funds. The firm chose not to make a heavy push into such products, said Stromberg, deciding it was too crowded to stand out.“There wasn’t much room for another player,” he said.That stance seems to be changing. Regulators recently approved partially concealed, actively-managed ETFs from T. Rowe that would reveal their holdings once a quarter, rather than every day as conventional ETFs do. Active strategies account for around 2% of U.S. ETF assets.Alternative investment strategies could also make sense at some point, said Stromberg, though he didn’t give more details. Those investments tend to come with longer time horizons and higher fees.“We’re on our toes,” said Stromberg. “We’re trying to keep abreast of the changes, and keep an open mind about how we innovate and evolve our business.”\--With assistance from Denise Cochran.To contact the reporters on this story: Annie Massa in New York at amassa12@bloomberg.net;Heather Perlberg in Washington at hperlberg@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Why Legg Mason (LM) is a Top Dividend Stock for Your Portfolio
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    Why Legg Mason (LM) is a Top Dividend Stock for Your Portfolio

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  • How to Maximize Your Retirement Portfolio with These Top-Ranked Dividend Stocks - December 19, 2019
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    How to Maximize Your Retirement Portfolio with These Top-Ranked Dividend Stocks - December 19, 2019

    The traditional ways to plan for your retirement may mean income can no longer cover expenses post-employment. But what if there was another option that could provide a steady, reliable source of income in your nest egg years?