|Bid||37.15 x 800|
|Ask||37.17 x 800|
|Day's Range||36.94 - 37.32|
|52 Week Range||23.25 - 38.87|
|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|
Here's what happens when a big U.S. mutual-fund manager, beseiged by the growing popularity of exchange-traded funds, suddenly has to confront a legendary corporate raider in its own board room: job cuts. , a mutual-fund firm founded over a century ago and now with $758 billion under management, plans to cut 120 positions as part of a cost-cutting effort, according to an internal memo sent to staff by CEO Joseph Sullivan. A copy of the memo was forwarded to TheStreet by company spokeswoman Mary Athridge.
While P/E alone only gives an idea of stocks that are trading at a discount, PEG, while adding the growth element to it, helps to identify stocks that have solid potential.
Activist investor Nelson Peltz is well known for taking stakes in companies and pushing executives to make changes to increase the value of shares.
Legg Mason Inc said on Thursday that the mutual fund company is cutting 120 jobs, or about 12% of its corporate workforce, with the step coming only days after the appointment of Trian Fund Management LP's Nelson Peltz and Ed Garden as directors. Most of the job cuts will be coming from shared services like human resources or finance, a Legg Mason spokeswoman told Reuters. On Monday, Legg Mason had raised the size of its board to 12 members with the appointments of Peltz and Garden.
The moves come just three days after Nelson Peltz, an activist investor known for pushing executives to make changes that improve a company's share price, reached a deal with Legg Mason for three seats on its board.
The cost-cutting steps are “critical to our ongoing growth,” Joseph Sullivan, chief executive officer of the Baltimore-based asset manager, said in a memo to staff Thursday. In recent months, BlackRock Inc., State Street Corp. and AQR Capital Management have announced staff reductions.
The Baltimore-based company, which oversees $758bn in assets, will lose a handful of executives, including its heads of marketing and business development, in what Joe Sullivan, chief executive, called a “difficult day” in an internal memo seen by the Financial Times. The cuts represent 12 per cent of its workforce.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Citi lowered its price target on Tesla to $191 from $238 Guggenheim named Anheuser-Busch InBev a best idea Evercore ISI upgraded Legg Mason to in-line from underperform Stephens downgraded Activision Blizzard to equal-weight from overweight Bank of America upgraded Ericsson to buy from neutral J.
Legg Mason is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
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 firstname.lastname@example.org.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 have been 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. Trian was also granted the choice of a third independent director, while the board will pick at least two more directors, for election at Legg Mason’s upcoming annual shareholder meeting as part of a board overhaul.
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 ...