49.99 0.00 (0.00%)
After hours: 4:31PM EDT
Commodity Channel Index
|Bid||0.00 x 308300|
|Ask||0.00 x 2200|
|Day's Range||49.99 - 50.00|
|52 Week Range||33.99 - 50.70|
|Beta (5Y Monthly)||0.76|
|PE Ratio (TTM)||17.77|
|Earnings Date||Oct 22, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||1.60 (3.20%)|
|Ex-Dividend Date||Jun 15, 2020|
|1y Target Est||49.10|
Moody's Investors Service, ("Moody's") has affirmed Franklin Resources, Inc.'s ("Franklin", NYSE: BEN) A2 senior unsecured debt rating following the conclusion of its acquisition of Legg Mason. Concurrently, Moody's upgraded Legg Mason's senior unsecured and junior subordinate debt ratings one-notch to A3 and Baa1, respectively.
Legg Mason, Inc. (the "Company") today announced that following the completion of its previously announced merger with Alpha Sub, Inc. ("Merger Sub"), a wholly owned subsidiary of Franklin Resources, Inc. ("Franklin Templeton"), the Company has notified the New York Stock Exchange ("NYSE") of its intention to delist its 6.375% Junior Subordinated Notes due 2056 (NYSE: LMHA) and 5.45% Junior Subordinated Notes due 2056 (NYSE: LMHB) (collectively, the "Junior Notes"), as well as to deregister the Junior Notes from registration with the Securities and Exchange Commission (the "SEC"). The Company has not made, and does not intend to make, arrangements for the listing and/or registration of the Junior Notes on another national securities exchange or for quotation on another medium. These actions do not affect the terms of the Junior Notes. The last day of trading of the Junior Notes is expected to be August 20, 2020.
Franklin Resources, Inc. (the "Company") [NYSE:BEN], a global investment management organization with subsidiaries operating as Franklin Templeton, today announced that it has completed its previously announced acquisition of Legg Mason, Inc. [NYSE:LM] and its specialist investment managers.
S&P; Dow Jones Indices will make the following changes to the S&P; MidCap 400 and S&P; SmallCap 600 effective prior to the opening of trading on Monday, August 3:
Legg Mason's (LM) first-quarter fiscal 2021 (ended Jun 30) earnings reflect lower revenues, reduced expenses and a rise in assets under management (AUM).
Legg Mason (LM) delivered earnings and revenue surprises of 0.00% and -3.78%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
The Zacks Analyst Blog Highlights: Legg Mason, Flagstar, Sprouts Farmers Market, Brunswick and Patrick Industries
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 LMRevenue guidance hasn't been issued by the company for now.Recent Stock Performance 52-week high: $50.70Company's 52-week low was at $33.99Price 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.See more from Benzinga * Lakeland Financial: Q2 Earnings Insights * A Look Into Lincoln Electric's Debt * How Does Biogen's Debt Look Like?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Legg Mason (LM) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Several stocks are expected to beat earnings estimates. Notably, a few mid-cap stocks with top Zacks Rank are likely to beat earnings estimates next week.
Last year, regulators finally approved five new structures that allow actively managed exchange-traded funds to not disclose their holdings daily. Now some major fund companies are beginning to launch ETFs based on the new structures.
Franklin Resources, Inc. ("Franklin Templeton") (NYSE: BEN) and Legg Mason, Inc. ("Legg Mason") (NYSE: LM) announced today that all conditions to the closing of their previously announced merger transaction have been satisfied and the transaction is expected to close on July 31, 2020.
(Bloomberg Opinion) -- Legendary investor Bill Miller, this week's guest on Masters in Business, is anything but your standard-issue value-stock money manager. He has owned high-flying stocks such as (Google parent) Alphabet and Amazon since their initial public offerings. At one time, he was one of the 100 biggest holders in Bitcoin, personally, buying the cryptocurrency between $200 and $400 (it recently traded at about $9,200). He has not yet sold any.Miller says that “value has led markets out of every recession as far back as the data goes.” That is because value stocks tend to be more cyclical and their returns on capital decline when the economy peaks. Whatever advantage value may have had will be short -ived, as growth will reassert itself. Low nominal growth rates and low inflation are much more challenging for value stocks and make growth stocks look cheap.Miller rebooted his investing philosophy after the 1987 stock-market crash and his fund’s terrible market returns in 1989 and 1990. He began integrating academic research that had showed a benefit of focusing on return on capital through a market cycle. Instead of the using traditional measures embodied in generally accepted account principles, he focused on free cash flow yield, return on invested capital and full-cycle earnings.The result of these changes was the fund he was managing, Legg Mason’s Capital Management Value Trust, soon went on an unprecedented winning streak: after-fees returns beat the S&P 500 Index for 15 consecutive years from 1991 through 2005.Today, his firm, Miller Value Partners, manages more than $2 billion in client assets.A list of his favorite books are here; a transcript of our conversation is here.You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Overcast, Google, Bloomberg and Stitcher. All of our earlier podcasts on your favorite pod hosts can be found here.Be sure to check out our Masters in Business next week with Martin Franklin of Mariposa Capital. Franklin is credited with successfully reviving the use of special purpose acquisition companies, or so-called blank-check companies, as public vehicles for mergers and acquisitions with closely held companies.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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