(GuruFocus, October 22, 2009) This morning, Legg Mason reported quarterly report that exceeds street estimate. The asset management company had a net income of $46 Million, or $0.30 per Diluted Share; cash income came in at $90 Millionand Assets Under Management of (AUM) $703 Billion.
The company saw the asset outflow slow down to 1% for the quarter, and the CEO thinks the positive asset inflow is just around the corner.
As a going-forward strategy, the company is looking for opportunity to acquire additional asset managers.
For starters, Legg Mason Inc. is a holding company which through its subsidiaries is principally engaged in providing asset management, securities brokerage, investment banking, and related financial services to individuals, institutions, corporations and municipalities. Investment Guru Bill Miller manages Legg Mason Value Fund for the company.
Legg Mason Inc. has a market cap of $4.67 billion; its shares were traded at around $31.71 with and P/S ratio of 1.4. The dividend yield of Legg Mason Inc. stocks is 0.4%. Legg Mason Inc. had an annual average earning growth of 9.6% over the past 10 years. GuruFocus rated Legg Mason Inc. the business predictability rank of 4.5-star.
Watch the company’s President and CEO Mark Fetting discussing its quarterly results and the strategy gong forward:
The company saw the asset outflow slow down to 1% for the quarter, and the CEO thinks the positive asset inflow is just around the corner.
As a going-forward strategy, the company is looking for opportunity to acquire additional asset managers.
For starters, Legg Mason Inc. is a holding company which through its subsidiaries is principally engaged in providing asset management, securities brokerage, investment banking, and related financial services to individuals, institutions, corporations and municipalities. Investment Guru Bill Miller manages Legg Mason Value Fund for the company.
Legg Mason Inc. has a market cap of $4.67 billion; its shares were traded at around $31.71 with and P/S ratio of 1.4. The dividend yield of Legg Mason Inc. stocks is 0.4%. Legg Mason Inc. had an annual average earning growth of 9.6% over the past 10 years. GuruFocus rated Legg Mason Inc. the business predictability rank of 4.5-star.
Watch the company’s President and CEO Mark Fetting discussing its quarterly results and the strategy gong forward:
