Asset Management & Custody Banks

Raymond James upgraded Harsco Corporation (NYSE: HSC) from “market perform” to “strong buy.” HSC's shares closed at $19.25 yesterday. Harsco's trailing-twelve-month ROE is -3.71%. Analysts at Keefe Bruyette upgraded Heritage Financial Group Inc (NASDAQ: HBOS) from “market perform” to “outperform...

Pre-open movers US stock futures are mostly flat this morning, as investors are awaiting weekly jobless-claims data. Futures for the Dow Jones Industrial Average gained 1 point to 12,575.00 and S&P 500 index futures rose 0.60 points to 1,323.00. Nasdaq 100 futures dropped 2 points to 2,555.50...

Legg Mason, Inc. (NYSE: LM) announced yesterday the pricing of its sale of $650 million of 5.5% senior notes due 2019. The offering is expected to settle on May 21, 2012. The senior notes will bear interest at a rate of 5.5% per year. Interest for the senior notes will be payable semi-annually...

According to Citi, Legg Mason (NYSE: LM) is upgraded to Buy. Citi said that the announcement comes following mixed C1Q post call update. “Cognizant of the strong outperformance on 5/16 (up 7.5% vs. median 50 bps decline for Traditionals), we nonetheless see further follow through as investors...

Legg Mason, Inc. (NYSE: LM) announced today that it plans to offer and sell senior notes. The net proceeds from the senior notes offering are expected to be used, together with cash on hand and other borrowings, to repurchase $1.25 billion in aggregate principal amount of the Company's 2.5%...

Legg Mason, Inc. (NYSE: LM) announced today a new capital plan which includes the refinancing of $1.25 billion of convertible senior notes. The Company expects to use $250 million to be drawn on its existing revolving credit facility, other borrowings and cash on hand to repurchase the $1.25...

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $639 billion as of April 30, 2012.

According to a research report this morning, Sterne Agee upgrades its rating on Legg Mason (NYSE: LM) to Neutral following substantial valuation discount and material underperformance. Sterne Agee continued, “LM is roughly unchanged since the market bottom in early October, underperforming the...

Legg Mason Inc (NYSE: LM) reported a 10% rise in its fourth-quarter earnings. Legg Mason's quarterly net income climbed to $76.1 million, or $0.54 per share, from $69 million, or $0.45 per share, in the year-ago period. Analysts were expecting earnings of $0.47 per share. Legg Mason shares...

Pfizer Inc (NYSE: PFE) is expected to post its Q1 EPS at $0.56 on revenue of $15.47 billion. Archer Daniels Midland Company (NYSE: ADM) is estimated to post its Q3 EPS at $0.59 on revenue of $21.38 billion. Office Depot Inc (NYSE: ODP) is projected to report its Q1 earnings at $0.05 per share on...

According to a research report published earlier today, Jefferies has increased Legg Mason's (NYSE: LM) PT from $31 to $33. Jefferies commented in the report, “Last week we spent several days with the mgmt team of LM throughout Europe. In general, business trends continue to improve on a modest...

According to a research report published earlier today, Citi has increased Legg Mason Inc.'s (NYSE: LM) PT from $2 to $29. Citi said in the report, “Actions follow CIRA sponsored investor meeting with senior management on 3/6 in NY ahead of Citi's 3/7-3/8 Financial Services conference and...

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $631 billion as of January 31, 2012.

Shares of Legg Mason (NYSE: LM) are higher on the session by 2.35%, currently trading at $26.14. The stock has been moving largely higher over the past three weeks and is currently trading above the 50-day moving average. Options traders are focusing on calls today. The strike seeing the heaviest...

WisdomTree (Nasdaq: WETF), an exchange-traded fund sponsor and asset manager, today announced a new investment sub-adviser relationship with Western Asset Management, a subsidiary of Legg Mason (NYSE: LM). The collaboration will be in the global fixed income area with a focus on credit products.