Trian Fund Management Exits Position in Legg Mason Inc (LM)

Legg Mason Inc (LM) : Trian Fund Management has sold out all of its stake in Legg Mason Inc during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 11,039,896 shares of Legg Mason Inc which is valued at $372,154,894.

Other Hedge Funds, Including , Vident Investment Advisory reduced its stake in LM by selling 55,199 shares or 49.44% in the most recent quarter. The Hedge Fund company now holds 56,459 shares of LM which is valued at $1,903,233. Legg Mason Inc makes up approx 0.25% of Vident Investment Advisory’s portfolio.Pacad Investment Ltd. boosted its stake in LM in the latest quarter, The investment management firm added 17,600 additional shares and now holds a total of 28,900 shares of Legg Mason Inc which is valued at $974,219. Legg Mason Inc makes up approx 0.13% of Pacad Investment Ltd.’s portfolio.Eaton Vance Management boosted its stake in LM in the latest quarter, The investment management firm added 21 additional shares and now holds a total of 139,620 shares of Legg Mason Inc which is valued at $4,734,514. Legg Mason Inc makes up approx 0.01% of Eaton Vance Management’s portfolio. Robeco Institutional Asset Management B.v. sold out all of its stake in LM during the most recent quarter. The investment firm sold 368 shares of LM which is valued $12,184.Clarkston Capital Partners boosted its stake in LM in the latest quarter, The investment management firm added 439,825 additional shares and now holds a total of 2,478,050 shares of Legg Mason Inc which is valued at $82,048,236. Legg Mason Inc makes up approx 4.10% of Clarkston Capital Partners’s portfolio.

Legg Mason Inc opened for trading at $34.31 and hit $34.57 on the upside on Monday, eventually ending the session at $34.35, with a gain of 0.32% or 0.11 points. The heightened volatility saw the trading volume jump to 7,06,149 shares. Company has a market cap of $3,560 M.

On the company’s financial health, Legg Mason Inc reported $0.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.73. The company had revenue of $700.20 million for the quarter, compared to analysts expectations of $683.62 million. The company’s revenue was down -1.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.14 EPS.

Legg Mason Inc. is a holding company. Through its subsidiaries the Company provides investment management and related services to institutional and individual clients company-sponsored investment funds and retail separately managed account programs. The Company offers its products and services directly and through various financial intermediaries. Its investment advisory services include discretionary and non-discretionary management of separate investment accounts in numerous investment styles for institutional and individual investors. Its investment products include proprietary mutual funds ranging from money market and other liquidity products to fixed income equity and alternative funds managed in a wide variety of investment styles. The Company also offers other domestic and offshore funds to both retail and institutional investors and funds-of-hedge funds. The Company’s United States mutual funds consist of two groups of mutual and closed-end funds.

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