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Legg Mason Inc (LM.N)

LM.N on New York Stock Exchange

37.43USD
21 Apr 2017
Change (% chg)

$-0.35 (-0.93%)
Prev Close
$37.78
Open
$37.89
Day's High
$37.89
Day's Low
$37.43
Volume
204,610
Avg. Vol
404,288
52-wk High
$38.98
52-wk Low
$27.54

Latest Key Developments (Source: Significant Developments)

Legg Mason says entered third amendment to unsecured credit agreement, dated Dec 29, 2015 - SEC filing
Friday, 31 Mar 2017 05:25pm EDT 

Legg Mason Inc : Legg Mason Inc - entered into a third amendment to company's unsecured credit agreement, dated as of December 29, 2015 - SEC filing . Legg Mason - third amendment reduces aggregate amount of lenders' commitment to make loans to company under credit agreement from $1 billion to $500 million .Legg Mason - will take non-cash charge of $1.5 million for unamortized financing costs from reduction in lenders' commitment to make loans available to co.  Full Article

Legg Mason reports third fiscal quarter results
Wednesday, 1 Feb 2017 04:01pm EST 

Legg Mason Inc : Legg Mason reports third fiscal quarter results . Q3 earnings per share $0.50 . Q3 revenue rose 8 percent to $715.2 million .Q3 earnings per share view $0.64 -- Thomson Reuters I/B/E/S.  Full Article

Bill Miller to acquire Legg Mason's stake in LMM LLC
Thursday, 11 Aug 2016 07:36am EDT 

Legg Mason Inc : Bill Miller to acquire Legg Mason's stake in LMM LLC . Miller, together with companies he controls, will own 100 percent of LMM . Terms of transaction were not disclosed .There will be no changes to investment team or portfolio management responsibilities as a result of transaction.  Full Article

Legg Mason reports assets under management and flows for July
Wednesday, 10 Aug 2016 08:00am EDT 

Legg Mason Inc : Legg Mason reports assets under management and flows for July 2016 . July AUM included longterm outflows of $0.5 billion, driven by alternative of $1.1 billion, equity of $0.8 billion, offset by fixed income inflows of $1.4 billion . Preliminary assets under management of approximately $756.6 billion as of July 31, 2016 .July liquidity inflows were $2 billion and July AUM included a positive foreign exchange impact of $0.8 billion.  Full Article

Legg Mason priced $500 mln of Junior Subordinated notes due 2056 at a price equal to 100 pct of par
Wednesday, 3 Aug 2016 03:05pm EDT 

Legg Mason Inc : Legg Mason Inc announces pricing of junior subordinated notes offering . Legg Mason Inc says priced its underwritten public offering of $500 million of junior subordinated notes due 2056 at a price equal to 100% of par .Says junior subordinated notes will bear interest at a fixed rate of 5.45% per year.  Full Article

Legg Mason reports preliminary AUM of $741.9 bln for June
Wednesday, 13 Jul 2016 08:00am EDT 

Legg Mason Inc : Legg Mason reports assets under management and flows for June 2016 . Reported preliminary assets under management of $741.9 billion as of June 30, 2016. . Month's AUM included long-term inflows of $0.6 billion, driven by fixed income inflows of approximately $2.0 billion .June month's AUM included a positive foreign exchange impact of approximately $3 billion.  Full Article

Legg Mason says May preliminary AUM $717.8 billion
Friday, 10 Jun 2016 08:00am EDT 

Legg Mason Inc : Reported preliminary assets under management of $717.8 billion as of May 31, 2016. .Legg Mason reports assets under management and flows for May 2016.  Full Article

Legg Mason Inc announces pricing of senior notes offering
Thursday, 17 Mar 2016 05:06pm EDT 

Legg Mason Inc:Priced its underwritten public offering of $450.0 million of Senior Notes due 2026 at a price equal to 99.954% of par.Offering is expected to close on March 22.Mason plans to use net proceeds to finance the purchase prices for the previously announced acquisitions of Clarion Partners and EnTrust Capital and to pay fees and expenses related to these acquisitions.  Full Article

Legg Mason Inc declares dividend
Friday, 22 Jan 2016 07:00am EST 

Legg Mason Inc:Declared a quarterly cash dividend on its common stock in the amount of $0.20 per share.Dividend is payable April 11, 2016 to shareholders of record at the close of business on February 10, 2016.  Full Article

Legg Mason announces combination of EnTrust Capital and Permal Group
Friday, 22 Jan 2016 06:30am EST 

Legg Mason Inc:Entered into a definitive agreement to combine Permal, Legg Mason's existing hedge fund platform, with EnTrust Capital.As a result of the combination, Legg Mason will own 65% of the new entity, branded EnTrustPermal, with 35% being owned by Gregg S. Hymowitz, EnTrust's Co-founder and Managing Partner.EnTrustPermal will be led by Hymowitz, who will become the Chairman and Chief Executive Officer of EnTrustPermal.Combination is expected to close in mid-2016.Transaction is expected to be modestly accretive to Legg Mason's earnings in the first year.Legg Mason expects EnTrustPermal to achieve cost savings of approximately $35-$40 million per year.Morgan Stanley & Co. LLC has acted as financial advisor to Legg Mason in connection with this transaction.  Full Article

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BRIEF-Legg Mason reports AUM and flows for March 2017

* Legg Mason reports assets under management and flows for March 2017