Legg Mason’s 3Q profit declines 54 percent
BY: Staff and Wire Reports
POSTED: January 27, 2012
Tags: earnings, Gabelli & Co., Legg Mason, Macrae Sykes, mark fetting, Western Asset
Legg Mason Inc. said Friday that its fiscal third-quarter profit declined 54 percent as assets fell, lowering fees for managing investors’ money.
Baltimore-based Legg earned $28.1 million, or 20 cents a share, in the quarter that ended Dec. 31, from $61.6 million, or 41 cents, a year earlier. Profit missed the $42.1 million average estimate of [...]
Legg Mason’s Miller to step down from day-to-day running of fund
BY: Staff and Wire Reports
POSTED: November 17, 2011
Tags: Bill Miller, Ernie Kiehne, Legg Mason, Legg Mason Capital Management, Legg Mason Value Trust, morningstar, s&p 500, Sam Peters, Standard & Poor's 500
The long-time manager of Legg Mason’s flagship mutual fund, Bill Miller, is stepping down next year.
After 30 years at the helm of the Legg Mason Value Trust, the company said Thursday that Miller will cede the day-to-day reins to co-manager Sam Peters. Legg Mason Capital Management said that the transition had been in the works [...]
Legg’s assets under management decline
BY: Daily Record Staff
POSTED: October 12, 2011
Tags: asset manager, assets, assets under management, Baltimore, fixed-income, invesments, Legg Mason, liquid assets, money-market mutual funds
Legg Mason Inc. of Baltimore, a global asset manager, said its assets under management fell to $611.8 billion at the end of September 2011, down more than 9.1 percent from the $673.5 billion recorded in September 2010.
Fixed-income investments declined to $355.5 billion from $371.6 billion in the previous year. Managed assets in stocks dropped to [...]
Legg Mason assets slip nearly 2 percent in August
BY: Associated Press
POSTED: September 13, 2011
Tags: assets under management, Baltimore, equity assets, fixed-income assets, Legg Mason, Legg Mason Inc., liquidity assets, stock, trading
Mutual fund company Legg Mason Inc. on Tuesday said it had $643.4 billion in assets under management in August, down 1.8 percent from the previous month.
The Baltimore-based company’s total assets are down 4.2 percent since the end of January.
Legg Mason had $655.4 billion in assets under management in July and $671.9 billion at the end [...]
Legg Mason sees drop in managed assets
BY: Daily Record Staff
POSTED: August 10, 2011
Tags: asset manager, assets under management, Baltimore, fixed-income investments, Legg Mason, liquid assets, money-market mutual funds, Stocks
Legg Mason Inc. of Baltimore, a global asset manager, said its assets under management fell in July to $655.4 billion, down 1.1 percent from the $662.5 billion recorded in the prior month.
Fixed-income investments closed at $370.6 billion, up $5.2 billion from the June total of $365.4 billion. Managed assets in stocks dropped to $176.2 billion, [...]
Legg Mason reports Q1 profit of $60M
BY: Rachel Bernstein
POSTED: July 28, 2011
Tags: assets under managent, earnings, fiscal quarter, Legg Mason, mark r. fetting, net income, profit
Money manager Legg Mason Inc. Thursday reported a 25 percent increase in profit from the corresponding period a year ago, but said assets under management were down 2 percent for the quarter ending June 30.
The Baltimore company reported $60 million in net income, or 40 cents per diluted share, for its fiscal first quarter, compared [...]
Fetting says Legg still has work to be done 
BY: Ben Mook
POSTED: July 26, 2011
Tags: Baltimore, CEO, chairman, fiscal year, harbor east, laid off, Legg Mason Inc., mark fetting, maryland, owings mills, securities and exchange commission, shareholders, workers, workforce
As part of its continuing restructuring efforts, Legg Mason Inc. said Tuesday that it had laid off 180 people, about 5 percent of its workforce, at the beginning of the month.
The staff reduction, part of an effort to save the company as much as $150 million by next year, was announced Tuesday during the Baltimore-based [...]
Legg’s assets increased in June
BY: Daily Record Staff
POSTED: July 13, 2011
Tags: assets, Baltimore, fixed-income investments, Legg Mason, managed assets, money-market mutual funds, Stocks
Legg Mason Inc. of Baltimore, a global asset manager, said its assets under management rose in June to $662.5 billion, up 2.6 percent from the $645.4 billion recorded in June 2010. Fixed-income investments closed at $365.4 billion, an increase of $7.5 billion over the June 2010 figure of $357.9 billion. Managed assets in stocks rose [...]
Legg’s assets under management up slightly
BY: Daily Record Staff
POSTED: April 12, 2011
Tags: assets, Baltimore, investments, Legg Mason, maryland, mutual funds, stock
Legg Mason Inc. of Baltimore, a global asset manager, said its assets under management rose slightly to $677.6 billion through the end of March 2011, up from $672.7 billion at the end of February 2011.
However, the total was lower than at the end of March 2010, when the firm reported assets under management of $684.5 [...]
Legg, T. Rowe have stake in each other’s success
BY: Ben Mook
POSTED: February 24, 2011
Tags: Baltimore, competition, east baltimore, firms, Inner Harbor, investment, Legg Mason, lender, market, success, T. Rowe Price
As two of the biggest kids on the block in the world of asset management, who just happen to live down the street from each other, it would be easy to believe a bitter rivalry has developed between T. Rowe Price Group Inc. and Legg Mason Inc.
The companies have both been in downtown Baltimore for [...]
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