Asset Management & Custody Banks

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $627 billion as of December 31, 2011.

Deutsche Bank has downgraded Legg Mason (NYSE: LM) from Buy to Hold and has lowered the price target from $32 to $27.

Citigroup has published a research report on Legg Mason (NYSE: LM) after a press release on 12/13 commenting on Moody's negative outlook. In the report, Legg Mason writes, "Per a 12/13 press release, Moody's Investors Service revised LM's ratings outlook to negative from stable citing erosion in...

Tuesday, December 13, 2011 This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session. • The first form of the stock market in New York started in 1792 with just 24 stock brokers meeting in the Tontine Coffee House on the corner of...

Analysts at Mizuho downgraded ADTRAN Inc (NASDAQ: ADTN) from “buy” to “neutral.” ADTN's shares closed at $30.46 yesterday. ADTRAN's trailing-twelve-month ROA is 16.52%. Analysts at Citigroup downgraded Legg Mason Inc (NYSE: LM) from “buy” to “neutral.” LM' shares closed at $25.23 yesterday. Legg...

Citigroup lowered its rating on Legg Mason (NYSE: LM) from Buy to Neutral and lowers its target price from $33 to $27, reflecting long term flow uncertainty, reduced EPS outlook and lower sector valuations. Citigroup says, “We are increasingly concerned around two building trends that could...

Citigroup has downgraded Legg Mason (NYSE: LM) from Buy to Neutral and has lowered the price target from $33 to $27.

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $621 billion as of November 30, 2011.

Asset manager Legg Mason (NYSE: LM) looks like it will be the next in long line of mutual fund issuers to get into the ETF game as the firm has filed plans to introduce the Legg Mason Western Asset Ultra-Short Duration ETF. The ETF will own short-term corporate debt securities, bank obligations,...

Big news in the mutual fund world, as 'legendary' investor Bill Miller of Legg Mason, has been "escorted" away from Legg Mason Value Trust (LMVTX).  In the 90s and early 00s Miller had an incredible streak of beating the S&P 500 fifteen years in a row.  However the more recent past has not been...

On Thursday, Bill Miller, Chairman and Chief Investment Officer of Legg Mason (NYSE: LM) Capital Management announced that at the end of April 2012, he will step down from the Value Trust Fund. This will conclude a 30 year career at the fund. Bill Miller will continue to manage the Legg Mason...

Shares of Legg Mason (NYSE: LM) are higher on the session by 1.23%, currently trading at $26.24. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. A short while ago the December...

Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $629 billion as of October 31, 2011.

Analysts at Jefferies & Company downgraded Avon Products Inc (NYSE: AVP) from “buy” to “hold.” AVP's shares closed at $18.28 yesterday. Avon Products' trailing-twelve-month profit margin is 6.51%. Ticonderoga downgraded Legg Mason Inc (NYSE: LM) from “neutral” to “sell.” LM's shares closed at...

A report from Sterne Agee reiterates its Underperform rating and $32 price target, and lowers its FY '12 and '13 estimates to $1.61 and $2.04 on Legg Mason (NYSE: LM). The report states, “We are reducing our fiscal '12 estimate by $0.03 to $1.61. Our fiscal '13 estimate is reduced by $0.26 to $2....