Last $54.49 USD
Change Today -0.02 / -0.04%
Volume 303.4K
LM On Other Exchanges
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As of 3:48 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

legg mason inc (LM) Key Developments

Legg Mason Inc.(NYSE:LM) added to S&P 500 Growth Index

Legg Mason Inc.(NYSE:LM) added to S&P 500 Growth Index

Legg Mason Inc.(NYSE:LM) dropped from S&P 500 Value Index

Legg Mason Inc.(NYSE:LM) dropped from S&P 500 Value Index

Legg Mason Inc. Announces Resignation of Nelson Peltz from the Board of Directors

Legg Mason Inc. announced that Nelson Peltz, CEO and a founding partner of Trian Fund Management, L.P., has announced his resignation from the company's board of directors. Mr. Peltz was chairman of Legg Mason's nominating and corporate governance committee. Mr. Peltz has served on Legg Mason's Board since October 2009, and made significant contributions to the company's ongoing successful turnaround.

Legg Mason Announces the Launch of a New Series of Nine Target Retirement Collective Investment Funds

Legg Mason announced the launch of a new series of nine target retirement collective investment funds, the 401(k) Roadmap Funds (Roadmap Funds), which are sponsored and maintained by Hand Benefits & Trust Company (HB&T), a Benefits Plans Administrative Services Company (BPAS). The Roadmap Funds are designed to give employee benefit plans access to asset allocation strategies. QS Investors, LLC, a wholly-owned subsidiary of Legg Mason Inc. and a leading customized solutions and global quantitative equities manager, has been retained by HB&T to provide sub-advisory and asset allocation services to the Roadmap Funds. In addition, Sheridan Road Investment Consulting, LLC supports QS Investors by providing investment research and fund analytics. The Roadmap Funds were designed to be successor funds to QS Legg Mason Target Date Retirement Funds, a series of target date mutual funds that closed on November 14 and, as such, will utilize substantially similar investment strategies and processes as those utilized by the Legg Mason Target Date Retirement Funds, including similar asset allocation glide path and dynamic risk management. The Roadmap Funds are funds-of-funds and will invest in a combination of underlying funds representing a variety of broad asset classes such as equity, fixed income and inflation-hedging strategies. The Roadmap Funds' glide path is designed to adjust over time to become more conservative by increasing allocations to fixed income securities as investors near retirement and to effectively balance market risk against longevity risk.

Legg Mason, Inc. Announces the Resignation Nelson Peltz as Chief Executive Officer

Legg Mason Inc. announced that Nelson Peltz, Chief Executive Officer and a founding partner of Trian Fund Management, L.P. has informed the company of his resignation from the company's Board of Directors, effective immediately, to devote more time to other commitments, including service on current and future boards. Mr. Peltz was Chairman of Legg Mason's Nominating & Corporate Governance Committee. Mr. Peltz has served on Legg Mason's Board since October 2009, and made significant contributions to the Company's ongoing successful turnaround. During that time period, Legg Mason has made senior management and Board changes and has significantly reduced overhead, increased cash flow and returned more than $2 billion of capital to shareholders.

 

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LM

Industry Average

Valuation LM Industry Range
Price/Earnings 28.5x
Price/Sales 2.3x
Price/Book 1.4x
Price/Cash Flow 26.6x
TEV/Sales 1.4x
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