Asset Management & Custody Banks

Legg Mason (NYSE: LM) and affiliate Permal have today announced a definitive agreement to acquire Fauchier Partners, a leading European based manager of funds of hedge funds, from BNP Paribas Investment Partners. Fauchier Partners will be combined with Permal, one of the largest alternative asset...

Legg Mason, Inc. (NYSE: LM) announced today that its Board of Directors approved an amendment to the payment date for the Company's quarterly cash dividend on its common stock in the amount of $0.11 per share. The dividend was previously declared by the Company on October 26, 2012. The dividend...

American Axle & Manufacturing Holdings (NYSE: AXL) is expected to report its Q3 earnings at $0.33 per share on revenue of $686.83 million. Comcast (NASDAQ: CMCSA) is projected to report its Q3 earnings at $0.46 per share on revenue of $16.08 billion. Aon plc (NYSE: AON) is estimated to report...

Legg Mason (NYSE: LM) reported preliminary assets under management of $651 billion as of September 30, 2012.  LEGG MASON, INC. AND SUBSIDIARIES (Amounts in billions) (Unaudited) Assets Under Management Preliminary  September 2012 June March December...

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $639 billion as of August 31, 2012.  This month's AUM reflects a $1.1 billion redemption from an enhanced cash, low fee mandate within fixed income.

Legg Mason, Inc. (NYSE: LM) today announced that Mark R. Fetting, Chairman and Chief Executive Officer, has decided to step down effective October 1, and will remain as a consultant to the company through year end.  Lead Independent Director W. Allen Reed will become Non-Executive Chairman and...

Below are the top mid-cap asset management stocks on the NYSE and the NASDAQ in terms of cash. Principal Financial Group (NYSE: PFG) had $3.42 billion in total cash and $2.93 billion in total debt for the latest quarter. Legg Mason (NYSE: LM) had $1.16 billion in total cash and $1.43 billion in...

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $636 billion as of July 31, 2012. This month's AUM reflects the previously disclosed transfer of $2.0 billion of liquidity assets to Morgan Stanley Smith Barney as well as a $2.0 billion redemption from an enhanced...

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $632 billion as of June 30, 2012. This month's AUM reflects the previously disclosed transfer of $2.5 billion of liquidity assets to Morgan Stanley Smith Barney.

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $627 billion as of May 31, 2012. This month's AUM reflects the previously disclosed transfer of $1.9 billion of liquidity assets to Morgan Stanley Smith Barney.

This weekend in Barron's online: Hedge-fund manager Ray Dalio's thoughts on the troubles in Europe, the effect of comments made by David Einhorn, and the consequences of the Facebook IPO flop. Cover Story "Ray Dalio's World" by Sandra Ward. Ray Dalio, fabled hedge-fund manager, is the head of...

Listed below are today's Top Upgrades at Benzinga: KeyBanc Capital Markets Upgrades G&K Services (NASDAQ: GKSR) to Buy: KeyBanc Capital Markets says, "We have become more favorable toward GKSR primarily due to our view that the Company has a significant cost takeout catalyst that could alone...

Morgan Stanley raises its price target on Legg Mason (NYSE: LM) from $30 to $31 as it reaffirms a rating of Equal-weight on shares. Morgan Stanley comments, "Capital management has become a tailwind again for LM instead of a question mark, with debt refi quickly accretive to EPS and $1B of new...